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BH Macro Shs GBP ( (GB:BHMG) ) just unveiled an announcement.
BH Macro Limited, a feeder fund into Brevan Howard Master Fund, reported a decline in total net assets from $1.98 billion at the end of 2025 to $1.87 billion at 31 March 2026, driven mainly by lower GBP share class assets while USD share class assets were broadly stable. The number of GBP shares in issue fell over the quarter, though both USD and GBP share prices rose, even as net asset values per share edged slightly lower, underscoring the persistent premium at which the stock trades and highlighting ongoing investor demand despite cautious performance signals.
The USD share price increased to $4.31 from $4.24 while its NAV slipped to $4.48 from $4.52, and the GBP share price climbed to £4.21 from £3.99 as NAV eased to £4.37 from £4.41, reflecting modest performance headwinds at the portfolio level. The quarterly investor statement, issued to meet regulatory reporting requirements, reiterates that the figures are unaudited and net of fees and that investments in BH Macro carry capital risk, with returns subject to currency fluctuations and not necessarily mirroring underlying NAV movements.
Spark’s Take on BHMG Stock
According to Spark, TipRanks’ AI Analyst, BHMG is a Neutral.
The score is primarily supported by a very strong balance sheet (no debt) but held back by inconsistent earnings/cash flow history. Weak technical momentum and a high P/E further constrain the rating, while ongoing buybacks provide only a modest offset.
To see Spark’s full report on BHMG stock, click here.
More about BH Macro Shs GBP
BH Macro Limited is a listed feeder fund that invests in the Brevan Howard Master Fund, providing investors with access to Brevan Howard’s macro trading strategies. Managed and operated by Brevan Howard Capital Management, which is regulated in Jersey, the fund targets professional and sophisticated investors seeking diversified macro exposure through USD and GBP share classes.
Average Trading Volume: 779,377
Technical Sentiment Signal: Strong Buy
See more data about BHMG stock on TipRanks’ Stock Analysis page.