Hedge fund Brevan Howard up 1 percent on UK's Brexit vote - source

LONDON (Reuters) - British billionaire Alan Howard's main hedge fund, one of Europe's largest, gained 1 percent on Friday after Britain voted to leave the European Union, a source close to the matter told Reuters.

As the pound fell more than 10 percent against the dollar on Friday, hitting a 31-year low, Brevan Howard's $16 billion main 'macro' fund ended the week to June 24 up 0.45 percent, the source added.

Although many markets plunged last Friday, performance for macro hedge funds proved more resilient and they were down 0.55 percent on average, data tracker Hedge Fund Research on Tuesday.

In contrast to the average macro fund, Brevan Howard joins systematic or computer driven hedge funds Winton Capital and Cantab Capital Partners and stock picker Odey Asset Management in making money on the surprise result.

Hedge Fund Research data showed hedge fund managers who made money from the vote tended to be varying positions in sterling, the yen, euro, gold, global equities and fixed income.

Brevan Howard's main fund bets on a variety of securities including rates and currencies using macroeconomic analysis. It lost nearly 2 percent in 2015 after falling nearly 4 percent in the month of December.

Investors put some $2.1 billion into the so-called 'macro' hedge fund investment strategy, of which Brevan is part, in May after pulling out $15.2 billion in the seven months to end-March, data from industry tracker eVestment showed on Wednesday.

(Reporting by Maiya Keidan; Editing by Keith Weir)