LONDON (Alliance News) - BH Global Ltd on Wednesday said the net asset value per share of both its share classes "declined modestly over a calendar year for the first time" since the company was launched in May 2008.
The dollar is the functional currency of the company and the NAV per share of the dollar class declined by 1.73% and that of the much larger sterling class by 1.32%.
"2015 was a year where many equity markets struggled, with some reporting significant losses and substantial volatility. Despite the small decline in NAV, BH Global continues to function as a portfolio diversifier that is only moderately correlated with equity markets and the Board look forward to the resumption of positive NAV growth," Chairman Michael Bunbury said.
Brevan Howard Capital Management LP is the manager of the Company. BH Global Ltd invests all its assets, net of short-term working capital, in Brevan Howard Multi-Strategy Master Fund Ltd, a company managed by Brevan Howard Capital Management.
BH Global shares were flat at 1,239.74 pence Wednesday.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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