Holding(s) in Company

For filings with the FCA include the annex For filings with issuer exclude the annex

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached: ii		BH Macro Limited
2. Reason for the notification (please tick the appropriate box or boxes):
An acquisition or disposal of voting rights
An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached
An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments
An event changing the breakdown of voting rights
Other (please specify):                         Type 1 disclosure as per the Transparency Directive II Regulation
3. Full name of person(s) subject to the notification obligation: iii	Schroders plc
4. Full name of shareholder(s) (if different from 3.):iv
5. Date of the transaction and date on which the threshold is crossed or reached: v	27.09.16
6. Date on which issuer notified:	28.09.16
7. Threshold(s) that is/are crossed or reached: vi, vii	Above 25%

8. Notified details:
A: Voting rights attached to shares viii, ix
Class/type of shares if possible using the ISIN CODE	Situation previous to the triggering transaction		Resulting situation after the triggering transaction
	Number of Shares	Number of Voting Rights	Number of shares	Number of voting rights		% of voting rights x
			Direct	Direct xi	Indirect xii	Direct	Indirect
Ordinary GG00B1NPGZ52 GG00B1NPGV15 GG00B1NP5142 TOTAL	99,738 2,529,270 8,367,032 10,996,040	99,738 2,529,270 8,203,942 10,832,950	95,573 2,516,561 8,131,392 10,743,526		95,573 2,516,561 7,968,303 10,580,436		0.226% 5.961% 18.875% 25.062%

B: Qualifying Financial Instruments
Resulting situation after the triggering transaction
Type of financial instrument	Expiration date xiii	Exercise/ Conversion Period xiv	Number of voting rights that may be acquired if the instrument is exercised/ converted.	% of voting rights

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi
Resulting situation after the triggering transaction
Type of financial instrument	Exercise price	Expiration date xvii	Exercise/ Conversion period xviii	Number of voting rights instrument refers to	% of voting rights xix, xx
					Nominal	Delta

Total (A+B+C)
Number of voting rights	Percentage of voting rights
10,580,436	25.062%

9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable: xxi

Schroder & Co. Limited	6,869,596	16.272%
Schroders (C.I.) Limited	1,316,728	3.119%
Schroder Investment Management Limited	2,394,112	5.671%

Proxy Voting:
10. Name of the proxy holder:
11. Number of voting rights proxy holder will cease to hold:
12. Date on which proxy holder will cease to hold voting rights:

13. Additional information:	The shares referred to in section 9 are held in portfolios managed by the firm on a discretionary basis for clients under investment management agreements. This disclosure has been calculated based on issue share capital amount 42,216,680.
14. Contact name:	Shaheen Hussain
15. Contact telephone number:	020 7658 6000