BH Macro Limited (BHMG), a closed-ended collective investment scheme incorporated in Guernsey, has announced the purchase of 104,754 Sterling ordinary shares on the London Stock Exchange on 5 November 2026. The transaction was executed through J.P. Morgan Securities plc at a weighted average price of 4.1202 pence per share. The purchased shares will be held in treasury rather than cancelled, a move that investors in closed-ended funds often monitor as a signal of discount management activity.

Key Points

  • BH Macro Limited (BHMG) — a Guernsey-registered closed-ended collective investment scheme listed on the London Stock Exchange
  • The company purchased 104,754 Sterling ordinary shares on 5 November 2026 via J.P. Morgan Securities plc
  • Weighted average purchase price was 4.1202; purchased shares will be held in treasury
  • Investors may be watching the total voting rights figure and ongoing treasury share accumulation as indicators of future capital management decisions

104,754 Sterling Shares Acquired via J.P. Morgan Securities on 5 November 2026

BH Macro Limited confirmed in its 6 November 2026 announcement that J.P. Morgan Securities plc executed the buyback on its behalf on the London Stock Exchange. The weighted average price achieved for the Sterling share class was 4.1202. The company did not disclose the total cash consideration for this specific transaction in the announcement. Buybacks of this nature are a standard mechanism used by closed-ended investment companies to manage the discount at which their shares may trade relative to net asset value, though the company made no explicit statement to that effect in this update.

Treasury Share Position and Total Sterling Shares in Issue Following the Transaction

Following the buyback, BH Macro Limited's Sterling share class comprised 298,777,226 ordinary shares in issue excluding treasury, with 78,887,042 Sterling shares now held in treasury. The US Dollar share class stood at 23,398,556 shares in issue excluding treasury, alongside 1,235,677 US Dollar shares in treasury. The company intends to hold the newly purchased shares in treasury, meaning they are not cancelled and could potentially be reissued in future. The announcement states that all figures are effective from 5 November 2026.

Total Voting Rights in BH Macro Stand at 457,298,241 from 5 November 2026

From 5 November 2026, the total number of voting rights in BH Macro Limited, rounded up to the whole number, is 457,298,241. This figure is relevant to shareholders and institutional investors who are required under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules to assess whether their holdings cross notifiable thresholds. BH Macro is administered by Northern Trust International Fund Administration Services (Guernsey) Limited, with JPMorgan Cazenove acting as the company's broker contact for enquiries relating to such announcements.

BH Macro's Structure as a Guernsey-Domiciled Closed-Ended Fund

BH Macro Limited operates as a closed-ended collective investment scheme established under the laws of Guernsey, with registered number 46235. The fund offers both Sterling and US Dollar share classes, giving investors currency-denominated access to its underlying strategy. The dual share class structure means buyback activity and treasury holdings must be tracked separately for each class, as reflected in this announcement. Investors may be watching the pace of treasury share accumulation across both classes as part of their assessment of the company's ongoing capital allocation approach.