The co-founder of hedge fund Brevan Howard has trebled his personal wealth to £1.4bn in just three years, according to new research. Publicity shy Alan Howard, 48, tops the list of hedge fund entrants in The Sunday Times Rich List 2012, with a 44% annual increase in his wealth. Howard who recently moved to Geneva from London, was the highest-earning European hedge fund manager in 2011. His $26bn master fund led the way for the firm in 2011, returning 12.14% net of fees.
Howard is joined on the list by some of the biggest names in the sector, including Michael Hintze and Crispin Odey. Robert Miller, of Sail Advisors, was ranked second with an estimated wealth of £955m. Miller was followed by David Harding, who runs Winton Capital. Harding uses scientific research to spot patterns in market behaviour and was the highest riser in the hedge fund table. He has twice built “black box” funds, having co-founded AHL, in 1987, later bought by Man Group. Michael Platt, of Bluecrest Capital, was ranked fourth with an estimated wealth of £650m. The wealth of Conservative party donor Hintze, the Australian who set up CQS in 1999, was put at £580m.
The average hedge fund lost 4.8% in 2011 but gained 4.94% in the first quarter of this year. The Rich List is published on Sunday.