BH Global & BH Macro
Company Notes
Manager seeks to increase fees
On 22 January the Boards of both BH Global and BH Macro published letters that they had received from the investment manager of both funds, Brevan Howard Capital Management LP. The manager has requested amendments to the management agreements for both funds. These include an increase in the base management fee for both funds from 1% to 2%. Both funds also have existing 20% performance fees. The manager has requested that its proposals be put to shareholder votes for the respective funds. If notices of EGMs and circulars are not published by 17 February, the manager intends to serve notice to terminate the relevant management agreement.
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