Brevan Howard Absolute Return Government Bond Fund
Brevan Howard Absolute Return Government Bond Fund is an active bond fund from Brevan Howard, ISIN LU2663014210.
Active
Bond
Global
Fund size (GBP) £2.0B
The Brevan Howard Absolute Return Government Bond Fund (“UGB” or the “Fund”) is a daily dealing, absolute return, discretionary macro UCITS fund. The strategy seeks to provide an alternative alpha stream to investors that is uncorrelated with traditional asset classes. It aims to have a diversified portfolio of multiple exposures, predominantly to certain interest and inflation rates, and foreign currencies, with a pro-active approach to risk management, including the use of conditional hedges and stress testing of tail scenarios.
How the fund has returned, and where it ranks among peers. Returns to Oct 2026 end, GBP net total return.
+4.9%
1 year return
–
3 year return
–
5 year return
Chart type
Compare with
Show
Daily NAV, percent change from the start of the range. Source: FE fundinfo.
3 months+3.8%
Ongoing charge (OCF)
Fund size (GBP)£2.0B
What the fund holds
Where the money is: sectors, countries and largest holdings. As supplied by FE fundinfo, last updated 17 Oct 2026. Swipe or use the arrows for more panels.
By asset class
Spot concentrations at a glance. Share of the fund's portfolio, as supplied by FE fundinfo, last updated 17 Oct 2026.
Largest asset class: Treasury Bonds. 7 asset classes reported.
See all asset classesA free account shows the full list.
Largest holdings
The biggest positions, and how concentrated the fund is. As supplied by FE fundinfo, last updated 17 Oct 2026.
The 10 largest holdings are reported by FE.
See all holdingsA free account shows the full list.
Macro events and this fund
Recent events linked to this fund by its country and sector exposure, and how it moved after. A measured move, not a cause.
Performance, risk and facts
Judge return, risk and cost before a client conversation. Relative return uses the chart's time range. Facts as reported by the manager.
Against its benchmark
How the fund compares with its benchmark over the same period.
Risk
How bumpy the ride has been, plus the regulatory risk rating.
Sharpe ratio, 1 year (FE)0.29
Scale −1 to 3
Volatility and maximum drawdown are not available for this fund.
Sharpe, alpha, beta: FE fundinfo, as at 6 Jul 2026.
Regulatory risk rating (SRRI)4 of 7
Fund facts
Legal and cost facts for a client note. As reported by the manager.
ISIN
LU2663014210
Management company
Carne Global Fund Managers (Luxembourg) S.A.
Depositary
State Street Bank Intl GmbH, Lux Br.
Ongoing charge
Share class launch date
6 Mar 2025
Domicile
LU
Fund type
open-ended fund
SRRI
4 of 7
What a sum would have become
What an amount would have grown to over the period.
n/a
Past performance is not a reliable guide to future returns. Capital is at risk. Source: FE fundinfo. Returns are GBP net total return to month end unless stated. Headline returns to Oct 2026. Fund size is shown in GBP.
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