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About the company
BH Macro Limited is a closed-ended investment company. The Company is organized as a feeder fund that invests all of its assets (net of short-term working capital requirements) directly in the Master Fund, a hedge fund in the form of a Cayman Islands open-ended investment company. Its investment objective the generation of consistent long-term appreciation through active leveraged trading and investment on a global basis. The Master Fund invests in a range of instruments including, debt securities and obligations (which may be below investment grade), bank loans, listed and unlisted equities, other collective investment schemes, currencies, commodities, digital assets, futures, options, warrants, swaps and other derivative instruments. The Master Fund employs a combination of investment strategies that focus primarily on economic change and monetary policy and market inefficiencies. The Master Fund is managed by Brevan Howard Capital Management LP, the Company’s Manager.
- Revenue in GBP (TTM)151.19m
- Net income in GBP53.24m
- Incorporated2007
- Employees0.00
- LocationBH Macro Limited GBPTrafalgar Court,, Les BanquesPO Box 255SAINT PETER PORT GY1 3QLGuernseyGGY
- Websitehttps://www.bhmacro.com/
Profile
| Management group(s) | Brevan Howard Capital Management LP |
|---|---|
| AIC sector | Hedge Funds |
| ISIN | GG00BQBFY362 |
| Launch date | 14 Mar 2007 |
| Share type | Ordinary Share |
| Structure | Investment Trust |
| Base currency | GBP |
Objective
The Company is organised as a feeder fund that invests all of its assets (net of short-term working capital requirements) directly in Brevan Howard Master Fund Limited, a hedge fund in the form of a Cayman Islands open-ended investment company, which has as its investment objective the generation of consistent long-term appreciation through active leveraged trading and investment on a global basis.
Managed by
| Not Disclosed |
|---|
Management & contract fees
Management fee equals to 1.5% p.a. of the NAV of each class of Shares. Performance of 20% of the appreciation in the NAV per share of that class during that calculation period which is above the base NAV. Agreement may be terminated on notice period of 24 months.
Peer analysis
| Company | Revenue (TTM) | Net income (TTM) |
|---|---|---|
| Herald Investment Trust plc | 62.03m | 48.12m |
| Fidelity China Special Situations PLC | 32.38m | -7.84m |
| Vietnam Enterprise Investments Limited | -156.84m | -188.22m |
| JPmorgan Emerging Markets Inv Trust PLC | 42.51m | 22.66m |
| Aberforth Smaller Companies Trust plc | 114.86m | 99.04m |
| Hipgnosis Songs Fund Ltd | 119.54m | -106.74m |
| Sequoia Economic Infrastrctr Incm Fd Ltd | 105.91m | 95.12m |
| Bankers Investment Trust PLC | 79.14m | 64.56m |
| Allianz Technology Trust PLC | 429.01m | 420.20m |
| BH Macro Ltd | 151.19m | 53.24m |
| Nationwide Building Society | 12.29bn | 1.66bn |
| Finsbury Growth & Income Trust PLC | 143.71m | 128.86m |
| Pantheon International PLC | -14.34m | -54.32m |
| Witan Investment Trust plc | 206.42m | 181.48m |
| Murray International Trust plc | 151.47m | 131.85m |
| Fidelity European Trust PLC | 262.10m | 238.69m |
Institutional shareholders
| Holder | Shares | % Held |
|---|---|---|
| Investec Wealth & Investment Ltd.as of 14 Feb 2024 | 67.49m | 18.66% |
| Rathbones Investment Management Ltd.as of 14 Feb 2024 | 34.02m | 9.41% |
| Close Asset Management Ltd.as of 10 Oct 2023 | 18.75m | 5.18% |
| Janus Henderson Investors UK Ltd.as of 29 Feb 2024 | 7.71m | 2.13% |
| BlackRock Investment Management (UK) Ltd.as of 31 Mar 2024 | 5.41m | 1.50% |
| Saltus Partners LLPas of 28 Mar 2024 | 4.89m | 1.35% |
| Vanguard Global Advisers LLCas of 31 Mar 2024 | 4.23m | 1.17% |
| UBS LA MAISON de Gestionas of 30 Jun 2022 | 2.17m | 0.60% |
| HSBC Global Asset Management (UK) Ltd.as of 04 Apr 2024 | 1.93m | 0.53% |
| Brewin Dolphin Ltd.as of 31 Aug 2023 | 1.80m | 0.50% |
