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BH Macro Ltd said on Thursday its net asset value performance was ‘modest but consistent’ for 2021.
The Guernsey-based close-ended investment company said its NAV per sterling share at December 31 stood at £34.30, up 2.8% from £33.38 at the same time a year previous. NAV per US dollar share rose 2.6% to $35.71 from $34.78.
BH Macro said this increase in NAV was largely due to its long term growth strategy and returns. It added that it was ‘confident’ this strategy would continue to return positive levels of growth in the future.
Its total gain for sterling shares for 2021 fell to 89.76p per share from 719.39p the previous year. Gains for US dollar shares also fell, dropping to 98.46 US cents from 784.32 cents.
The company's total assets totalled $1.31 billion at December 31, up 63% from $802.2 million at the same time the previous year. Its net investment loss widened to $36.7 million in 2021 from $20.8 million in 2020.
‘Overall, relative value strategies and trading in inflation, volatility and some minor markets performed well as did the capital deployed early in the year to digital assets, however given that the overall environment was more difficult for traditional macro trading, it was a year of mixed results. The master fund ended 2021 with modest gains,’ the company said.
Shares were down 0.4% at 3,954.20 pence on Thursday in London.
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