Investment Trusts

BH Macro Limited GBP

BHMG:LSE

BH Macro Limited GBP

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  • Price (GBX)4,621.49
  • Today's Change-3.52 / -0.08%
  • Shares traded10.65k
  • 1 Year change+20.98%
  • Beta-0.2229
Data delayed at least 20 minutes, as of Nov 30 2022 11:30 GMT.
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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 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. The Master Fund's investment objective is 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 but not limited to, 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.

  • Revenue in GBP (TTM)243.88m
  • Net income in GBP32.61m
  • Incorporated2007
  • Employees0.00
  • Location
    BH Macro Limited GBPTrafalgar Court Les BanquesPO Box 255SAINT PETER PORT GY1 3QLGuernseyGGY
  • Websitehttp://www.bhmacro.com
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Profile

Management group(s)Brevan Howard Capital Management LP
AIC sectorHedge Funds
ISINGG00B1NP5142
Launch date14 Mar 2007
Share typeOrdinary Share
StructureInvestment Trust
Base currencyGBP

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

Key Information
CompanyRevenue (TTM)Net income (TTM)Market capEmployeesPrice/earnings (TTM)Price/book value (MRQ)Price/cash flow (TTM)Price/sales (TTM)EPS (excl. extraordinary items, TTM)EPS (incl. extraordinary items, TTM)Revenue per share (TTM)Book value per share (MRQ)Asset turnover (TTM)Inventory turnover (TTM)Receivables turnover (TTM)Revenues per employee (TTM)Return on avg assets (TTM)Return on avg assets (5 yr avg)Return on investment (TTM)Return on investment (5 yr avg)Gross margin (TTM)Gross margin
(5 yr avg)
Net profit margin (TTM)Net Profit margin
(5 yr avg)
Quick ratio (MRQ)Interest coverage (TTM)Total debt to capital (MRQ)Payout ratio
(5 yr avg)
Revenue
(YOY change %)
Revenue
(5 yr growth rate)
Net income
(YOY change %)
Net income
(5 yr growth rate)
Capital expenditure
(5 yr growth rate)
Dividend
(5 yr growth rate)
Fidelity European Trust PLC-35.59m-49.63m1.30bn0.00--1.02-----0.1208-0.1208-0.08663.12-0.0269-------3.7513.27-3.7613.31--94.41--92.18---109.860.0017.07152.1816.29165.4016.64--10.37
Bankers Investment Trust PLC25.58m10.84m1.31bn0.00123.320.8941--51.130.00820.00820.01951.130.016--3.85--0.679911.230.681811.2858.1494.7342.3792.74----0.085718.51386.0813.65454.4213.93--5.06
Capital Gearing Trust plc-24.17m-30.21m1.31bn0.00--1.04-----1.09-1.09-1.1447.98-0.0229-------2.876.33-2.916.39--93.15--90.78----0.0018.568.6333.187.1533.29--35.39
Jpmorgan Global Growth & Income PLC-18.77m-25.56m1.31bn0.00--1.08-----0.1431-0.1431-0.11844.03-0.0259-------3.538.13-3.588.24--91.95--88.70----0.0692---111.28---116.47------
Impax Environmental Markets plc-148.57m-163.53m1.32bn0.00--1.06-----0.529-0.529-0.49794.11-0.1106-------12.1716.48-12.2416.52--94.67--93.10---9,546.060.03984.861.2914.09-0.165713.81--7.50
JPMorgan American Investment Trust PLC20.44m9.94m1.36bn0.00162.331.03--66.430.04420.04420.10556.960.014--19.99--0.682814.940.689615.2266.6797.1648.6595.09----0.05797.8547.276.4048.596.90--6.96
Pantheon International PLC605.35m572.60m1.43bn0.002.540.5956--2.361.061.061.124.520.2756--117.11--26.0714.7326.1614.8195.5392.4294.5990.64----0.01570.0085.0022.3287.1423.36----
BH Macro Ltd243.88m32.61m1.51bn0.0046.401.16--6.190.99710.99718.6639.760.249--8.55--3.338.533.508.6975.7177.9413.3769.27--1.240.000.00-73.60-0.0167-93.38------
Witan Investment Trust plc-248.95m-270.19m1.52bn6.00--0.9949-----0.3768-0.3768-0.33662.23-0.1213-----41,492,330.00-13.167.68-13.788.01--91.09--84.56----0.129725.44211.81-4.09472.56-4.29--8.06
Sequoia Economic Infrastrctr Incm Fd Ltd-18.96m-55.37m1.52bn0.00--0.9323-----0.0314-0.0314-0.01070.9364-0.0097-------2.834.44-3.044.67--81.90--78.80---3.320.1056140.92-62.9512.43-70.138.45---1.78
Mercantile Investment Trust PLC-499.75m-525.70m1.57bn0.00--0.8414-----0.6643-0.6643-0.63152.37-0.2026-------21.317.76-21.407.80--90.06--89.09----0.14929.64334.7323.27284.0426.47--8.45
Murray International Trust plc151.70m132.31m1.66bn0.0012.671.05--10.911.051.051.2012.570.0859--8.62--7.505.437.785.6092.6588.7287.2282.99----0.112673.381,302.61-13.2776,987.16-14.19--2.98
HgCapital Trust plc354.83m344.07m1.67bn0.004.720.8224--4.700.77280.77280.78794.430.1846--3.09--17.9023.7917.9123.8399.42--96.9797.74--90.020.008.47137.7142.29140.9942.68--8.76
Bridgepoint Group PLC-100.00bn-100.00bn1.68bn340.00--2.30----------0.8877----------------------------0.4627--40.80--58.44------
Templeton Emerging Markets Inv Trust plc-406.48m-442.41m1.69bn0.00--0.8127-----0.3746-0.3746-0.34421.78-0.1637-------17.814.61-18.044.76--81.68--78.31----0.045546.40-142.89---147.35----18.16
Data as of Nov 30 2022. Currency figures normalised to BH Macro Limited GBP's reporting currency: UK Pound GBX

Institutional shareholders

49.43%Per cent of shares held by top holders
HolderShares% Held
Investec Wealth & Investment Ltd.as of 29 Sep 20227.82m25.95%
Rathbone Investment Management Ltd.as of 28 Apr 20222.76m9.14%
Quilter Cheviot Ltd.as of 10 Feb 20221.97m6.54%
Janus Henderson Investors UK Ltd.as of 30 Sep 2022754.72k2.50%
BlackRock Investment Management (UK) Ltd.as of 31 Oct 2022461.82k1.53%
Vanguard Global Advisers LLCas of 31 Oct 2022309.79k1.03%
Evelyn Partners Investment Management LLPas of 31 Oct 2022232.62k0.77%
Thesis Unit Trust Management Ltd.as of 31 Jan 2013222.51k0.74%
Rathbone Investment Management International Ltd.as of 28 Apr 2022193.10k0.64%
Saltus Partners LLPas of 31 Oct 2022177.23k0.59%
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Data from 30 Sep 2022 - 10 Nov 2022Source: FactSet Research Systems Inc.
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