20th Aug 2018 18:36
LONDON (Alliance News) - BH Macro Ltd on Monday posted an increase in its net asset value in the first half of 2018 as market volatility boosted the performance of its primary investment.
In the six months to June 30, the macro-trading investment firm recorded an 8.5% increase in its net asset value per share to 2,333 pence from 2,150 pence the year before.
Shares in BH Macro closed up 0.5% at 2,205.00 pence on Monday.
All of BH Macro's assets are invested in the Brevan Howard Master Fund Ltd, which performs best during volatile market conditions. The formation of a coalition government after the Italian election produced such turbulence, leading the master fund to record an 8.2% jump in its net asset value back in May.
The company's total assets grew to USD500.4 million from USD452.8 million during the period. No dividend payment has been recommended.
"Improved performance from the Master Fund will be important in securing the future of the company...There are now clear signs that investors are beginning to focus more closely on the political and economic uncertainties lying ahead and any increased volatility arising from this will present further opportunities for the Master Fund’s macro-trading strategies," said BH Macro Chairman Huw Evans.
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