BH Macro Limited Investor Statement - 30 June 2017
28 July 2017 - 9:13PM
UK Regulatory
TIDMBHMG TIDMBHMU
BH Macro Limited
INVESTOR STATEMENT
For the quarter ended 30 June 2017
YOUR ATTENTION IS DRAWN TO THE DISCLAIMER AT THE END OF THIS DOCUMENT
© Brevan Howard Capital Management LP (2017). All Rights Reserved.
Overview and Objective This Investor Statement covers the period of 1 April 2017 to 30 June 2017
and is being circulated to satisfy the quarterly account statement
obligations of the commodity pool operator of BH Macro Limited ("BHM")
pursuant to CFTC Regulation 4.7.
Company Size The total net assets of BHM are summarised as follows:
Share Class 30 June 31 March Change in 30 June 2017 31 March
2017 2017 Net Assets In Currency 2017
Currency Currency 31 March Class (mm) In Currency
USD (mm) USD (mm) 2017 to 30 Class (mm)
June 2017
Currency:
USD (mm)
USD Shares 61.3 210.3 -149.0 61.3 210.3
GBP Shares 390.9 612.7 -221.9 300.9 490.0
EUR Shares* - 33.5 -33.5 - 31.3
Total 452.2 856.6 -404.4 - -
*As previously announced by the Company, the Company determined that all
remaining shares in the Euro share class be converted into Sterling shares
effective as of 29 June 2017 and all Euro shares held by the Company in
treasury were cancelled on that date. The Euro share class has been
closed and its listing has been cancelled.
Source: Northern Trust International Fund Administration Services
(Guernsey) Limited ("Northern Trust")
Figures are rounded to one decimal place.
Share Capital The number of shares in issue in each share class of BHM is summarised as
follows:
Share Class 30 June 2017 31 March 2017
USD Shares 2,849,663 9,944,059
GBP Shares 13,995,456 22,429,359
EUR Shares - 1,474,935
Source: Northern Trust
Performance The closing share price* of each share class of BHM is summarised
Review as follows:
Share Class 30 June 2017 31 March 2017
USD Shares 19.05 20.27
(US$)
GBP Shares 19.15 21.20
(GBP)
EUR Shares - 20.40
(EUR)
Source: Bloomberg
The NAV per share* of each share class of BHM is summarised as
follows:
Share Class 30 June 2017 31 March 2017
USD Shares 21.53 21.15
(US$)
GBP Shares 21.50 21.84
(GBP)
EUR Shares - 21.25
(EUR)
* NAV performance is provided for information purposes only. Shares
in BHM do not necessarily trade at a price equal to the prevailing
NAV per Share.
Source: BHM's Net Asset Value per Share data is provided by BHM's
Administrator, Northern Trust, and is based on the Fund's (as
defined below) Net Asset Value data provided by the Administrator
of the Fund, International Fund Services (Ireland) Limited. BHM's
Net Asset Value data in this report is unaudited and net of all
investment management fees and all other fees and expenses payable
by BHM. In addition, the Fund is subject to an operational services
fee.
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS
Further details of monthly performance information and the outlook
of Brevan Howard Master Fund Limited (the "Fund") and BHM can be
obtained from BHM's Shareholder Reports, copies of which can be
found on BHM's website: www.bhmacro.com
To the best of my knowledge and belief, the information detailed in
this statement is accurate and complete:
By:
Name: Jonathan Wrigley
Title: Group Head of Finance and Authorised Signatory
Brevan Howard Capital Management Limited as general partner of
Brevan Howard Capital Management LP, the manager and commodity pool
operator of BH Macro Limited.
Important Legal Information and Disclaimer
BH Macro Limited ("BHM") is a feeder fund investing in Brevan Howard Master
Fund Limited (the "Fund"). Brevan Howard Capital Management LP acting through
its general partner Brevan Howard Capital Management Limited ("BHCM") has
supplied certain information herein regarding BHM's and the Fund's performance
and outlook. BHCM is regulated by the Jersey Financial Services Commission as
a fund services business and is the commodity pool operator of BHM.
The material relating to BHM and the Fund included in this investor statement
is provided for information purposes only, does not constitute an invitation or
offer to subscribe for or purchase shares in BHM or the Fund and is not
intended to constitute "marketing" of either BHM or the Fund as such term is
understood for the purposes of the Alternative Investment Fund Managers
Directive as it has been implemented in states of the European Economic Area.
This material is not intended to provide a sufficient basis on which to make an
investment decision.
Tax treatment depends on the individual circumstances of each investor in BHM
and may be subject to change in the future. Returns may increase or decrease as
a result of currency fluctuations.
You should note that, if you invest in BHM, your capital will be at risk and
you may therefore lose some or all of any amount that you choose to invest.
This material is not intended to constitute, and should not be construed as,
investment advice. All investments are subject to risk. You are advised to
seek expert legal, financial, tax and other professional advice before making
any investment decisions.
THE VALUE OF INVESTMENTS CAN GO DOWN AS WELL AS UP. YOU MAY NOT GET BACK THE
AMOUNT ORIGINALLY INVESTED AND YOU MAY LOSE ALL OF YOUR INVESTMENT. PAST
PERFORMANCE IS NOT A RELIABLE INDICATOR OF FUTURE RESULTS.
PDF Version: http://content.prnewswire.com/documents/
PRNUK-2807171210-17C5_BMA_-_Investor_Statement_-_June_2017_CC.pdf
END
(END) Dow Jones Newswires
July 28, 2017 07:13 ET (11:13 GMT)
Bh Macro (LSE:BHMG)
Historical Stock Chart
From Jun 2024 to Jul 2024
Bh Macro (LSE:BHMG)
Historical Stock Chart
From Jul 2023 to Jul 2024