LONDON (Alliance News) - BH Global Ltd on Friday said "the road ahead for Brexit is foggy", despite a rise in net asset value per share in the first-half of 2018.
The investment company said net asset value per share for the sterling class shares grew to 1,539 pence per share from 1,429p the year prior.
As at the end of the period, share price stood at 1,455p, representing a 5.8% discount to NAV.
The stock was trading 0.1% higher on the day Friday at 1,476.10p per share.
NAV total return was 0.8% compared to the HFRI Macro Total Index, which was down 1.8% over the period.
BH Global said it benefited from a number of larger moves in both volatility and price levels. The performance in January and May was particularly strong with May producing the highest monthly return since the fund's inception.
The direct investment portfolio was the main positive contributor to the fund's year-to-date
performance, it said.
"Political developments are going to shape markets in unpredictable ways going forward. The road ahead for Brexit is foggy," BH Global said in the statement.