UPDATE (Oct 26): BHMG returned +2.4% for its Sterling Class in the first half of 2026, with its average discount narrowing slightly to 7%. The sterling shares produced a NAV gain of 1.4% for 2025. A second class-closure vote was held in February 2026, as the discount on both share classes exceeded 8% for the second year running. 96% of sterling and 99% of US dollar shareholders voted against closure.

BH Macro (BHMG/BHMU) is effectively the last trust remaining in what was once a much larger AIC Hedge Fund sector, and it serves as a feeder fund for the Brevan Howard Master Fund. BH Macro has n...