LONDON (ShareCast) - (ShareCast News) - Closed-ended investment company, BH Macro posted a "modest" decline in net asset value per share of 0.7% in its US dollar shares, while its sterling shares saw a more significant 4.2% drop over the first six months of the year.
The company claims the decline was due to the performance of its Brevan Howard Master Fund wherein most of its assets are invested.

BH said market conditions had offered fewer opportunities for the master fund to grow its "macro-directional trading focus," due to several major economies experiencing synchronised deceleration in growth.

"Evident political and economic uncertainties lying ahead suggest that more fruitful opportunities will present themselves for the master fund's macro-trading strategies and the board believes that in these conditions shares in the company will continue to provide a valuable listed avenue for portfolio diversification that is uncorrelated with other asset classes," said chairman Huw Evans.

As of 1520 BST, shares in BH Macro were up 0.66% to 1,994.66p.

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE