Doom and gloom have descended on the stock market, with the FTSE 100 down 25% in the first three months of the year — the biggest quarterly contraction since the crash of 1987.
Yet amid the damage done by Covid-19, there are some listed entities that are on the rise. Take BH Macro, whose shares have risen by 23% over the same period.
This is no straightforward share. BH Macro is a closed-ended investment trust incorporated in Guernsey but listed in London. BH refers to Brevan Howard, the hedge fund whose products it tracks. Macro is the practice of trading based on market movements.
The rally in its share price to £33.10 on Friday, valuing the trust at £543m, puts it higher than its latest