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Brevan Howard Asset Management - $40 billion (change in value since June 2012: +9%)

Alan Howard’s (pictured) Geneva-based firm retains its spot at the top of the rankings for the second consecutive year. Brevan Howard enjoyed inflows across its range of funds, notably its credit catalysts, Ucits emerging markets and multi-strategy fund, which invests across its in-house range.  Last year the firm saw a net addition of 38 investment professionals and opened a trading office in New York. However this year it has cut at least a dozen traders following poor performance. Departures have included Luke Ding, a partner who managed a currency hedge fund. The flagship Brevan Howard Master fund gained 3.9% last year and is up 3.9% in the first six months of this year. Brevan Howard’s emerging markets hedge fund, which is run by Geraldine Sundstrom, gained 14.1% last year but is down 12.9% in the first six months of this year.

Financial News this week published an annual ranking of the 20 biggest hedge funds in Europe. Here are the top 10.

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Fareed Sahloul

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Baldwin left EY after losing out on the CEO role last year

Fiera Capital managing partner Catherine O’Reilly exits

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The former Goldman Sachs  and TCI Fund Management employee has also stepped down from her board role at UK trade body the Investment Association

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The country’s antitrust authority has proposed to designate Google as having strategic market status in general search and search advertising, which could change how the U.S. tech company operates.

U.K. Regulator Sets Out Proposals to Tackle Google’s Status in Search Market

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