The numerical rankings of top five hedge fund firms in Europe in 2015 didn’t change much from the year before, but those numbers mask big changes at the individual firms. No. 1-ranked Winton Capital Management grew firm-wide hedge fund assets by nearly 22 percent, while assets at No. 5-ranked Marshall Wace grew a remarkable 24 percent. Meanwhile, assets at macro hedge fund giant Brevan Howard fell by 12 percent. Many of the firms that posted big asset gains in 2015 have posted poor performance in 2016, owing to market volatility following the controversial Brexit vote in June, so the makeup of next year’s list may look quite different. All told, Europe’s biggest hedge funds managed a combined $393 billion at the start of 2015, up from $374 billion the year before.