BH Macro Limited (BHMG), the Guernsey-registered closed-ended collective investment scheme listed on the London Stock Exchange, has announced the purchase of 68,654 Sterling ordinary shares on 12 November 2026, with the transaction executed through J.P. Morgan Securities plc. The shares were acquired at a weighted average price of 4.1215 Sterling and will be held in treasury rather than cancelled. The buyback reduces the Sterling shares in circulation and updates the company's total voting rights figure, details investors in the fund will want to monitor closely.

Key Points

  • BH Macro Limited (BHMG) — a closed-ended collective investment scheme incorporated in Guernsey
  • The company purchased 68,654 Sterling ordinary shares on 12 November 2026 via J.P. Morgan Securities plc
  • Weighted average purchase price was 4.1215 Sterling per share; shares will be held in treasury
  • Investors should watch future treasury share disclosures and any further buyback activity that may affect the voting rights total

BHMG Executes Sterling Share Buyback Through J.P. Morgan Securities

BH Macro Limited confirmed it purchased 68,654 Sterling ordinary shares on the London Stock Exchange on 12 November 2026, with J.P. Morgan Securities plc acting as the executing broker. The weighted average price paid was 4.1215 Sterling per share. The company stated its intention to hold the purchased shares in treasury, meaning they will not be voted or count toward the freely tradeable share pool. The transaction forms part of the company's ongoing approach to managing its share capital, a common tool used by closed-ended funds to address discounts to net asset value.

Sterling and US Dollar Share Classes: Updated Treasury and Issued Share Counts

Following the transaction, BH Macro Limited's updated share capital position shows 298,047,091 Sterling ordinary shares in issue, excluding treasury, alongside 79,617,177 Sterling shares now held in treasury. The company also maintains a US Dollar share class, with 23,394,334 US Dollar shares in issue and 1,239,899 US Dollar shares held in treasury. The announcement states that from 12 November 2026, the total number of voting rights in the company, rounded up to the whole number, stands at 456,221,001. This figure is relevant for shareholders calculating proportional voting stakes.

Guernsey-Incorporated Structure and BH Macro's Closed-Ended Fund Profile

BH Macro Limited is incorporated in Guernsey with registered number 46235 and operates as a closed-ended collective investment scheme. The company provides investors with exposure to the investment strategies managed by Brevan Howard, one of Europe's prominent macro hedge fund managers. As a closed-ended vehicle, BH Macro's shares trade independently of the underlying net asset value, and buyback programmes are a recognised mechanism used by such funds to manage share price discounts. The company secretary function is provided by Northern Trust International Fund Administration Services (Guernsey) Limited, with JPMorgan Cazenove serving as corporate broker.