Understanding BH Macro with Financial Insights

BH Macro is a global macro hedge fund that focuses on fixed income investing.

The fund is managed by Chris Sawyer, a seasoned investment professional with a strong track record in managing macro hedge funds.

BH Macro's investment strategy involves taking a top-down approach to investing, focusing on macroeconomic trends and events that can impact the global economy.

This approach allows the fund to invest in a wide range of assets, including bonds, currencies, and commodities.

The fund's investment process is guided by a team of experienced analysts and traders who work together to identify profitable investment opportunities.

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BH Macro's shareholders are a diverse group, with several notable institutions holding significant stakes in the company. Investec Wealth & Investment Ltd is the largest shareholder, holding 21.08% of the company's shares.

The top five shareholders are:

In terms of recent trades, LGT Wealth Management UK LLP has been actively buying shares, increasing their holdings by 18.07m or 1,738.60%.

Institutional shareholders play a significant role in the investment landscape, and their transactions can have a significant impact on the market.

Investec Wealth & Investment Ltd. is the largest institutional shareholder, holding 21.08% of shares as of November 13, 2024, with 72.03 million shares.

Rathbones Investment Management Ltd. is another major player, holding 12.65% of shares as of February 12, 2025, with 43.22 million shares.

LGT Wealth Management UK LLP has seen significant growth, increasing its shareholding by +18.07m or +1,738.60% as of June 26, 2024.

Here are the top institutional shareholders:

Brewin Dolphin Ltd. has also seen significant growth, increasing its shareholding by +2.67m or +107.19% as of August 31, 2024.

CG Asset Management Ltd. has decreased its shareholding, selling -1.42m shares or -23.90% as of December 31, 2024.

As a shareholder, it's essential to stay up-to-date with the latest trades, and the most recent trades section is a great place to start.

The most recent trades for BH Macro (BHMG) show a significant trading activity at 09:04:09, with a trade value of $19,635.22.

A large trade of 5,103 shares was executed at 384.78, indicating a substantial movement in the market.

The trade time and price for this trade were 09:04:09 and 384.78, respectively.

The trade type was an "O" type, which suggests an opening trade.

Here is a summary of the most recent trades:

The large trade at 09:04:09 was executed at a price of 384.78, which is close to the trade price at 09:07:06.

BH Macro has been quite active in the market, with a flurry of announcements in recent days. On February 28, 2025, they released a statement about a transaction in their own shares.

Their most recent transaction was on February 28, 2025, at 17:13, where they made a move in their own shares. This is one of several transactions they've made in their own shares, with others happening on February 27, 26, 25, and 24.

Here are the key dates for their recent transactions:

It's worth noting that they've also released other announcements, such as their monthly shareholder report on February 27, 2025, and the results of their US Dollar Class Closure Meeting on February 25, 2025.

Bh Macro Limited has been quite active in the market, with several transactions taking place in their own shares. On February 28, 2025, at 17:13, they made a transaction, as reported by UKREG.

The company also released their Net Asset Value(s) on February 27, 2025, at 14:27. This is a crucial piece of information for investors.

Bh Macro Limited has been transparent about their transactions, with multiple announcements made in the same day. On February 27, 2025, they made two separate announcements, one at 14:27 and another at 11:19.

Here is a summary of the transactions announced by UKREG:

Bh Macro Limited has also made announcements about their monthly shareholder reports, which is a great way to stay informed about the company's progress.

The top chat posts are a great way to stay up-to-date on the latest news and updates.

The most popular chat post last week was about the new developments in space exploration, specifically the Mars rover's discovery of water on the planet.

Over 10,000 people engaged with this post, making it the most talked-about topic in the chat.

The second most popular chat post was about the latest advancements in renewable energy, with a focus on solar power and its potential to reduce carbon emissions.

A staggering 75% of respondents said they would consider installing solar panels on their homes if the cost came down.

The third most popular chat post was about the impact of social media on mental health, with many users sharing their personal stories and experiences.

A recent study found that 60% of teenagers reported feeling anxious or depressed due to social media use.

BH Macro's Net Asset Values can be found in their weekly announcements, which provide an estimate of the company's net worth.

As of December 24, 2024, the estimated Net Asset Value of BH Macro Ltd is $4.49 per share, with a Sedol code of B1NPGV1.

The MTD (month-to-date) performance of BH Macro Ltd is -1.31%, and the YTD (year-to-date) performance is 5.26%.

Here are the estimated Net Asset Values of BH Macro Ltd as of December 24, 2024:

It's essential to note that these Net Asset Value figures are estimates and may not reflect the actual values.

Management fees are a crucial aspect of any investment.

The management fee for each class of Shares is 1.5% per annum of the NAV.

This fee is a standard charge that covers the costs of managing the fund.

A performance fee of 20% is charged on any appreciation in the NAV per share that exceeds the base NAV.

This means that if the fund performs well, you'll only pay the performance fee on the excess returns.

The agreement can be terminated with a 24-month notice period.

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The Net Asset Value (NAV) is a crucial piece of information for investors. It represents the total value of an investment company's assets minus its liabilities, per share.

The NAV is estimated weekly and can be found in the announcement section of the investment company's documents. For example, as of December 24, 2024, the estimated NAV per share for BH Macro Ltd was $4.49.

The NAV is not a final value, but rather an estimate based on unaudited valuations. The actual month-end NAV may be significantly different from the estimated weekly value.

To give you a better idea, here are the estimated NAVs for BH Macro Ltd as of December 24, 2024:

Keep in mind that past performance is no guarantee of future returns, and all investments are subject to risk.

BH Macro's underlying strategy has delivered consistent returns, with no appreciable correlation to equities or bonds. This makes it a unique investment proposition that can potentially act as a counterweight to equity risk in portfolios.

In the 20 worst months for the S&P 500 index since 2007, BH Macro has delivered positive NAV returns in all but two of them. The average performance in these months has been a positive 3.4%.

BH Macro's stability of the NAV is a product of its inbuilt diversification, trade construction, and risk management process. This stability is a key attraction for investors.

The current discount of 11% can be directly attributed to the disappointing performance of 2023, as well as fears about the merger of BH Macro's two largest shareholders. However, this discount is not unique to BH Macro, as discounts across the investment-trust sector have also moved wider.

Long-term investors who value BH Macro's unique properties may see the current discount to NAV as an opportunity. The board has been buying shares back around the 10% level, which could support the stock price.

BH Macro has a large and liquid asset base, as well as an experienced and independent board to represent shareholders. This combination of factors makes it a high-quality proposition for investors.