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BH Macro USD (Ordinary Share) BHMU

Hedge Funds

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Estimated NAV


Share Price


Total Returns on £1000 over 

Fund / Benchmark Total returns(%)
BH Macro USD (Ordinary Share) Price -10.24%
BH Macro USD (Ordinary Share) NAV 0.15%
FTSE World 44.22%
Total Returns on £1000

Discount / Premium Movement

Discount / Premium Movement


Share Type Yesterday's
Closing Price
Discount / Premium Diluted NAV Gearing Dividend
Est Last
Ordinary Share 18.4 -10.5% 21.00 21.00
30 Jun

Discrete performance % over

Fund / BenchmarkOct '13
Sep '14
Oct '14
Sep '15
Oct '15
Sep '16
BH Macro USD (Ordinary Share) Price-4.340.05-6.21
BH Macro USD (Ordinary Share) NAV0.830.14-0.82
FTSE World10.130.8129.90

Discrete performance over

Discrete Performance

Top 10 Holdings

Herald Investment Trust 1.82%
Dunelm Group PLC 1.49%
Schlumberger-USA 1.04%
Halliburton-USA 0.92%
Amlin Plc 0.87%
Croda International 0.82%
Persimmon Plc 0.81%
Dominos Pizza 0.71%
Imi PLC 0.65%
National Grid 0.65%

Sectors weighting

Hedge Funds 100.00%
  • Investment trust info:

  • Sector Hedge Funds
  • Launch Date 14 Mar 2007
  • Currency USD
  • Domicile Guernsey
  • Share Price 18.40
  • Share Type Ordinary Share
  • Shares Issued (M) 10
  • Market Capital (£M) 148.50
  • Gross Assets (£M) 165.89
  • Net Assets (£M) 165.89
  • TER (%) 1.94
  • Last AGM 25 Jun 2016
  • Next AGM 25 Jun 2017
  • Last Annual Report Date 15 Apr 2016
  • Next due Report Date 31 Dec 2016
  • Next due Report Type A/R
  • Objective:

  • To generate consistent long-term appreciation through active leveraged trading and investment on a global basis.
  • Management Group(s):

  • Brevan Howard Capital Management LP
  • Brevan Howard Offshore Management Ltd
  • Managed by:

  • Not Disclosed Start: 21 Jun 2010
  • Management Contract & Fees:

    On 21-Jun-10 Brevan Howard Capital Management LP replaced Brevan Howard Offshore Management as the Manager of the fund. The Manager will receive a monthly fee equivalent to 1/12 of 2% per annum of the Net Asset Value of each class of Shares. In addition, the Manager is entitled to receive an annual Performance fee equal to the aggregate of 20% of the appreciation in the NAV per share of that class during that calculation period which is above the base NAV per share of that class. The Manager will be paid an estimated performance on the last day of the calculation period. Within 15 business days following the end of the calculation period, any difference between the actual performance fee and the estimated amount will be paid to or refunded by the Manager, as appropriate. The Master Fund itself is not subject to performance fees. The Management Agreement may be terminated by either party giving 24 months' notice. The Administrator will be entitled to receive a fee of 0.015% of the average monthly Net Asset Value of the Company calculated as at the last valuation day in each month during the relevant quarter, subject to a minimum fee of £67,500 per annum payable quarterly in arrears.

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