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Stifel downgrades Brevan Howard's BH Macro trust on 'whipsaw' concerns
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investmentweek.co.ukIn a research note published today (1 March), analyst Sachin Saggar said the broker's base case is that 2024 will be a «tough year» with no «obvious trades» providing upside optionality for the strategy. «We believe BH Macro is a high quality fund but today's environment does not seem conducive to the strategy,» he said. The trust, which holds £1.6bn in assets and is a feeder into the $13bn Brevan Howard Master fund, one of Brevan Howard's flagship funds, fell 2% in 2023. Pershing Square Holdings manager slashes performance fee as Ackman eyes US launch BHM has remained in negat...
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