Brevan Howard Asset Management, the UK hedge fund company with about $21 billion of assets, is planning to launch a fund to be listed on the London Stock Exchange, little over a year after it floated a similar product. The company, one of the largest hedge fund groups in Europe, said it is considering launching BH Global, a Guernsey-registered feeder fund that will put 50 per cent of its assets into the existing Brevan Howard Master Fund and the remaining half into a mixture of Brevan Howard hedge funds covering sectors such as emerging markets. Morgan Stanley and Dexion Capital are advising on the flotation and are joint book-runners. The fund will be marketed to clients of private banks, other high net worth individuals, as well as institutional investors, a spokesman for Brevan Howard told WealthBriefing. There is no set date yet for any flotation of the fund, the spokesman said. "All we have done is issue a statement but there's no prospectus yet," he said. Some market reports state that Brevan Howard is looking to raise $500 million in the new fund but the spokesman declined to give or confirm any figure. The float of BH Global, if it goes ahead, will follow the initial public offering in March last year of the Brevan Howard Master Fund, which is a macro hedge fund achieving total net returns, after fees, of more than 40 per cent over the past 12 months, the spokesman added.