26th Aug 2015 16:59
LONDON (Alliance News) - BH Macro Ltd Wednesday reported a rise in net asset value in the first half of 2015, although it said that a strong start to the year weakened as the months progressed.
The investment company said that its NAV rose 1.9% in the six months to June 30, after achieving a 3.3% gain in January in "more active market conditions" which then proved challenging throughout the subsequent five months.
It said that markets retreated into a more cautious pattern of trading amid heightened uncertainties resulting from the Greek financial crisis, the European Central Bank's quantitative easing programme, slower growth in the US in the first quarter, volatile movements in Chinese equities and falling commodity prices.
"Looking ahead, it remains the case that, with increased divergence between growth rates in the major economies, and with the faster-growing economies likely to raise interest rates while weaker-performing economies are still in a phase of easing, underlying macroeconomic trends are likely to become a more dominant influence on markets, providing a more fertile environment for macro-trading strategies," BH Macro said in a statement.
"The manager has indicated that it expects more favourable trading opportunities as economies
diverge and interest rates rise in those countries where growth has been strong. Both manager and board hope that such conditions will bring stronger returns for shareholders than has been the case in the last two years. Meanwhile the board will ensure that it continues to represent and further
shareholders' interests," the company added.
Shares in BH Macro closed down 0.1% at 2,065.00 pence on Wednesday.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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