BH Macro (tickers: BHMG and BHMU) is the largest trust in the AIC Hedge Fund sector with net assets of £1.3bn. It invests solely in the Brevan Howard Master Fund, which in turn invests in a number of other Brevan Howard funds as well as having its own core portfolio. The Master Fund focuses on fixed income and currency investment and seeks to exploit pricing anomalies and increased market volatility. Although the Master Fund uses leverage, it says that most trades are structured to minimise downside risk where possible. After a period of impressive returns following its 2007 IPO, BH Macro's NA...