Transaction in Own Shares

BH Macro Limited (the "Company")
(a closed-ended collective investment scheme established as a company with limited liability under the laws of Guernsey with registered number 46235)

Transaction in Own Shares
11 August 2016

BH Macro Limited (the Company) announces today it has purchased the following number of its ordinary shares on the London Stock Exchange from J.P. Morgan Securities plc:

Ordinary Shares: - Share Class	Sterling	US Dollar	Euro
Date of purchase:	11 August 2016	11 August 2016	11 August
Number of ordinary shares purchased:	58,268	3,000	10,600
Lowest price per share	19.18	18.55	18.45
Highest price per share	19.25	18.55	18.50
Trading venue	London	London	London
Aggregate volume per date per trading venue:	58,268	3,000	10,600
Weighted average price per day per trading venue:	19.2401	18.55	18.4972

The Company intends to hold the purchased shares in treasury.

On 11 August 2016, the Company also cancelled 64,000 Euro treasury shares.

Following the above share transactions of the relevant Euro, US Dollar and Sterling Shares, the total number of shares in issue in each share class of the Company will be as follows:

Ordinary Shares in issue (excluding Treasury)	Ordinary Shares held in Treasury
22,608,105 Sterling Shares	2,146,302 Sterling Shares
2,362,730 Euro Shares	205,757 Euro Shares
10,978,264 Dollar Shares	1,020,824 Dollar Shares

From 11 August 2016, the total number of voting rights in the Company (rounded down to the whole number) is 43,969,320.


Enquiries:
Company website:       www.bhmacro.com

William Simmonds
JPMorgan Cazenove
Tel: [phone]

The Company Secretary
Northern Trust International Fund Administration Services (Guernsey) Limited
Tel: [phone]