Investment Trusts

BH Macro Limited GBP

BHMG:LSE

BH Macro Limited GBP

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  • Price (GBX)400.50
  • Today's Change0.00 / 0.00%
  • Shares traded509.71k
  • 1 Year change+7.52%
  • Beta-0.0738
Data delayed at least 20 minutes, as of Jul 14 2025 16:35 BST.
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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 Company is managed by Brevan Howard Capital Management LP.

  • Revenue in GBP (TTM)171.12m
  • Net income in GBP43.14m
  • Incorporated2007
  • Employees0.00
  • Location
    BH Macro Limited GBPTrafalgar Court, Les BanquesPO Box 255SAINT PETER PORT GY1 3QLGuernseyGGY
  • Websitehttps://www.bhmacro.com/
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Profile

Management group(s)Brevan Howard Capital Management LP
AIC sectorHedge Funds
ISINGG00BQBFY362
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)
JPmorgan Emerging Markets Inv Trust PLC98.01m77.94m1.18bn0.0016.700.943--12.030.07020.07020.08841.240.0725--38.43--5.763.455.773.4590.8183.7279.5372.91----0.0033.98487.62-8.854,539.24-10.95--6.30
Fidelity Special Values PLC219.14m205.12m1.19bn0.005.831.05--5.440.63290.63290.67623.530.2057--23.97--19.269.8419.469.9397.0194.1093.6090.05--36.780.0028.43256.82--311.16----10.66
Ashmore Group plc187.70m72.60m1.20bn283.0016.031.4614.916.370.10470.10470.27061.150.1977--3.00663,250.908.1213.329.0215.44----41.0854.13----0.007286.395.06-8.4012.48-12.100.000.2985
Sequoia Economic Infrastrctr Incm Fd Ltd96.58m79.80m1.25bn0.0016.200.8763--12.960.050.050.0610.92550.0636------5.265.055.285.1883.9183.6782.6380.62----0.038124.36-26.70---27.73----1.96
Aberforth Smaller Companies Trust plc170.87m151.59m1.25bn0.008.540.9226--7.341.801.802.0316.670.119--63.44--10.563.4910.563.5494.2185.1888.7276.31--24.420.069376.5248.77-11.3853.05-12.73--6.38
Bankers Investment Trust PLC-6.81m-21.24m1.27bn0.00--1.03-----0.0221-0.0221-0.0061.19-0.0046-------1.436.80-1.436.84--91.51--88.07----0.089629.58208.6912.22256.2012.72--5.16
Fidelity China Special Situations PLC371.46m338.01m1.29bn0.003.970.9153--3.460.65890.65890.72462.860.2794--211.72--25.434.8626.105.0991.6272.5790.9969.96----0.0041.72314.48--258.35----13.49
Finsbury Growth & Income Trust PLC48.98m37.23m1.29bn0.0039.600.954467.7426.320.22960.22960.29929.520.0306--1.11--2.331.832.361.8479.1175.9376.0271.95----0.0207108.04-15.82-15.56-16.05-16.70--3.38
Law Debenture Corporation plc176.04m96.95m1.35bn301.0013.601.4513.597.670.74130.74131.346.940.1609--6.46584,837.208.864.699.154.8595.3492.1955.0746.22--18.700.155181.3932.001.0929.00-5.6965.305.20
Worldwide Healthcare Trust PLC-185.53m-209.77m1.41bn0.00--0.8998-----0.4145-0.4145-0.35753.40-0.0935-------10.572.87-11.163.03--73.57--69.87----0.0023.15-180.77---204.28-----0.8131
Pantheon International PLC143.07m90.28m1.41bn0.0016.480.6339--9.890.1930.1930.30585.020.057--51.44--3.609.593.689.6668.5287.9663.1086.03----0.10090.00-3.19-18.12-25.15-30.29----
BH Macro Ltd171.12m43.14m1.42bn0.0038.481.01--8.270.10470.10470.41993.980.1132--7.02--2.855.992.876.1180.6179.1025.2140.87--2.730.000.0022.3318.13-12.43-0.4175----
Alpha Group International PLC135.60m93.02m1.44bn533.0016.045.2213.8210.592.122.123.096.510.3171--19.97254,409.0021.6919.1731.5331.07----68.3855.54----0.074710.0322.7830.834.7255.4120.1052.59
JTC PLC305.38m-7.26m1.45bn1.93k--2.6666.634.75-0.0433-0.04331.863.160.3173--4.63158,640.50-0.7542.69-0.84792.93-----2.388.431.310.15910.376885.1818.6225.20-133.25--22.8118.80
Personal Assets Trust PLC91.17m114.92m1.60bn0.0014.750.9899--17.570.34570.34570.27425.150.0546--16.42--6.884.576.974.61----126.0691.22------25.6145.770.0977159.6411.92--0.00
Allianz Technology Trust PLC470.94m460.07m1.61bn0.003.630.9432--3.431.191.191.224.590.3066--784.24--29.9618.1030.0118.2298.1394.7097.6994.01----0.000.009.7729.599.4930.08----
Data as of Jul 14 2025. Currency figures normalised to BH Macro Limited GBP's reporting currency: UK Pound GBX

Institutional shareholders

56.08%Per cent of shares held by top holders
HolderShares% Held
Investec Wealth & Investment Ltd.as of 13 Nov 202472.03m21.27%
Rathbones Investment Management Ltd.as of 12 Feb 202543.22m12.76%
RBC Europe Ltd.as of 23 Dec 202426.23m7.75%
LGT Wealth Management UK LLPas of 26 Jun 202419.11m5.64%
BlackRock Investment Management (UK) Ltd.as of 31 May 20255.60m1.65%
Janus Henderson Investors UK Ltd.as of 31 May 20255.31m1.57%
Saltus Partners LLPas of 30 Jun 20255.17m1.53%
Brewin Dolphin Ltd.as of 31 Aug 20245.17m1.53%
Vanguard Global Advisers LLCas of 31 May 20254.63m1.37%
CG Asset Management Ltd.as of 30 Jun 20253.46m1.02%
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Data from 31 Mar 2025 - 10 Jul 2025Source: FactSet Research Systems Inc.
Data Provided by LSEG
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