Compliance with Model Code

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)

Compliance with the Model Code

1 July 2015

Pursuant to Listing Rule 15.5.1 R (Compliance with the Model Code) the Company hereby wishes to notify the market that the close period of the Company commenced today, 1 July 2015 and is anticipated to end following the release of the interim results on or before 26 August 2015.

In accordance with Listing Rule 15.5.1 (4), the Company confirms that weekly NAVs have been and will continue to be notified to the Exchange and that the Directors and the Company are not in possession of any additional price sensitive information that has not been notified to the Exchange.

Accordingly the Company will continue to observe the Model Code during the close period with the exception of the following activities, which may be undertaken:

· dealings by persons discharging managerial responsibilities in the Company;

· purchases by the Company of its own securities;

· sales of treasury shares for cash or transfers.

Enquiries:
Company website:       http://www.bhmacro.com/
Enquiries:
Northern Trust International Fund Administration Services (Guernsey) Limited
Rebecca Booth
Tel:    [phone]