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

17 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	Euro	Dollar
Date of purchase:	17 August 2016	17 August 2016	17 August 2016
Number of ordinary shares purchased:	63,000	23,287	14,556
Lowest price per share	19.19	18.47	18.45
Highest price per share	19.26	18.50	18.58
Trading venue	London	London	London
Aggregate volume per date per trading venue:	63,000	23,287	14,556
Weighted average price per day per trading venue:	19.2499	18.4961	18.559

The Company intends to hold the purchased shares in treasury.

On 17 August 2016, the Company also cancelled 80,000 EUR 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
22,337,295 Sterling Shares	2,417,112 Sterling Shares
2,265,892 Euro Shares	197,295 Euro Shares
10,955,149 Dollar Shares	1,043,939 Dollar Shares

From 17 August 2016, the total number of voting rights in the Company (rounded down to the whole number) is 43,456,539.

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]