BH Macro Limited
BHMDF
Other OTC4.54
USD
+0.54
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BH Macro Limited
BHMDF
(Other OTC)
Recent
price
4.54
P/E
ratio
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div
yld
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ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- BH Macro Limited (ticker: BHMDF) is a closed-end investment company that provides investors with exposure to the performance of Brevan Howard Master Fund Limited, a leading multi-strategy hedge fund managed by Brevan Howard Asset Management LLP; its primary offerings include ordinary shares traded on the London Stock Exchange and subscription shares that enable capital inflows to the master fund without diluting existing investors. The company offers two main classes of shares: ordinary shares, which capture the economic performance of the master fund net of fees, and subscription shares, which are issued to accredited investors to facilitate new capital subscriptions into the master fund on a quarterly basis. Headquartered in St Peter Port, Guernsey, BH Macro was founded in 2007 and operates principally in Europe with a focus on institutional and professional investors seeking absolute returns through diversified hedge fund strategies including global macro, credit, and quantitative approaches. The company's core services encompass portfolio management through its investment manager, Brevan Howard Asset Management, which employs a range of liquid trading strategies across fixed income, currencies, commodities, equities, and derivatives; it does not engage in direct manufacturing or sales but provides fund investment products tailored for long-term capital appreciation. BH Macro targets sophisticated investors such as high-net-worth individuals, family offices, and institutions, with geographic operations centered in the UK, Europe, and select international markets where the master fund trades globally. There is no parent company, though it maintains a key affiliate relationship with Brevan Howard Master Fund Limited as its underlying investment vehicle. In recent developments, BH Macro announced a tender offer in 2024 to repurchase up to 10% of its ordinary shares, enhancing shareholder liquidity amid favorable market conditions; the company also expanded its subscription share program in late 2024, raising additional capital for the master fund during a period of strong performance in global macro strategies. No major acquisitions, name changes, or reorganizations have occurred in the last 1-2 years, with strategic focus remaining on optimizing net asset value growth and maintaining low discount to NAV through share buybacks. Operational changes include enhanced risk management disclosures in its 2025 interim reports, reflecting adaptations to elevated interest rate volatility.