(Alliance News) - BH Global Ltd and BH Macro Ltd reported an improved performance for 2019, with both funds recording higher net asset value per share in both share classes.
BH Global is a sister fund of BH Macro.
A the end of December, BH Global reported NAV per pound sterling share of GBP16.11 compared to GBP15.37 at the same time in 2018. NAV per dollar share stood at USD16.48 from USD15.51 year-on-year. As at period end, net assets stood at USD467.8 million, but have since risen to USD496.3 million on Wednesday.
BH Global shares were trading flat on Wednesday in London at 1,585.00 pence each.
Over the course of the year, the average discount on the sterling class was 3.7% and on the US dollar class, 2.8%.
Looking ahead, Chair Michael Bunbury said: "Financial markets have recently experienced a black swan event in the shape of the worldwide outbreak of coronavirus. Increased market volatility has historically provided opportunities for Brevan Howard and the last few weeks have been no exception. BH Global has made a strong start in 2020. It is clear that the world economy faces major uncertainties ahead which may lead into yet more uncharted territory in terms of official responses and the consequences for markets. It is my hope and expectation that BH Global will continue to be a rock of stability in a very uncertain world."
BH Macro's NAV per sterling share increased by 8.0%over 2019 to GBP26.06 and the NAV per US Dollar share increased by 9.4% to USD26.99
BH Macro shares were trading 1.8% lower at 2,800.00 pence each on Wednesday afternoon in London.
The price of a sterling share increased by 10% over the year and a US dollar share by 11%.
During 2019 the average premium at which the company's shares traded in relation to monthly NAV was 1.2% for the dollar share class and 0.4% for the sterling share class.
No dividend was declared for either fund.
By Ife Taiwo; ifetaiwo@alliancenews.com
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