The lead manager of Brevan Howard Asset Management’s $500m-plus currency fund is one of a number of traders who is leaving Europe’s largest hedge fund manager because of disappointing fund performance, a person with direct knowledge of the situation said today.

Luke Ding, a partner who is the lead manager on the $570m Brevan Howard Investment Fund II Macro FX Fund, is leaving the firm. The departure is amicable and follows disappointing performance on the currency fund, this person said. Ding could not be reached for comment.