(Alliance News) - BH Macro Ltd on Thursday struck a cautious tone ahead of the US presidential election, as it reported a jump in interest income for last year.
The Guernsey-based close-ended investment company said net asset value per share was GBP4.11 as at December 31. The asset figures from a year prior are from before the company's sub-division of its shares at a factor of 10 to 1. For December 31, 2022, before the share sub-division, it had reported a net asset value of GBP41.81.
Notably, the company reported a surge in interest income to USD100.0 million in 2023 from USD14.3 million.
Further, BH Macro had a foreign exchange gain of USD108.5 million in 2023 compared to none a year prior.
The company swung to a net investment gain of USD91.3 million from a loss of USD242.4 million. However, it reported a net unrealised loss of USD213.5 million on investments, compared to a gain of USD236.1 million.
Looking ahead, Chair Richard Horlick said that the Biden-Trump rematch at the US presidential election in November "increased the uncertainty for the global economy and political stability worldwide. Meanwhile, closer to home in Europe both the economic and political outlook are cause for concern."
BH Macro shares were 0.2% lower at 335.40 pence each on Thursday morning in London.
By Tom Budszus, Alliance News slot editor
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