BH Macro Ltd - feeder fund that invests in Brevan Howard Master Fund - Non-Executive Chair Colin Maltby resigns, having served on the board since 2015 but as chair only since June 2019. Independent Director Richard Horlick, on board since 2019, takes over as chair. BH Macro last month said it received a letter from its manager, Brevan Howard Capital Management LP, requesting that previously agreed fee concessions be withdrawn or else the management agreement may be terminated. Brevan Howard Capital Management said management fee concessions, agreed in 2016 and 2017, no longer support BH Macro's future success and proposes these be withdrawn with "contractual fee terms are adjusted back broadly to their prior position".
Current GBP stock price: 3,339.42 pence
Year-to-date change: down 5.1%
By Tom Waite; thomaslwaite@alliancenews.com
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BH Macro GBP (BHMG)