Underperforming but not underpaid – hedge funds accused of rewarding failure | Business | The Guardian:
"When the European Central Bank announced a smaller-than-expected stimulus plan last month, Brevan Howard, one of Europe’s largest hedge funds, was one of the biggest casualties. Its master fund is said to have lost $670m after misreading the runes.
From being ahead on the year by 2.4%, the fund went 1.2% behind and finished the year down 1.99%, according to figures that came out last week. The performance, though not dismal, must have disappointed investors.
But if anybody expected such an event to have any financial impact on the firm’s partners, they have now have been disabused of that notion."
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