Europe's largest hedge fund manager has established a presence on the Island by listing two of its funds on the Bermuda Stock Exchange (BSX).

BH Global Ltd. and BH Macro Ltd., both closer-ended feeder funds managed by Brevan Howard Offshore Management Ltd., which are listed on the London Stock Exchange, have made a secondary listing on the BSX.

Brevan Howard, which already has an office in Bermuda and has more than $27 billion of assets under management, said the reason behind the move was to expand its liquidity and get closer to its investors in the US and Canada at the same time as taking advantage of the Island's high regulatory standards, investor base and favourable time zone.

It will also be looking at having a trading listing on the BSX in the future.

"This underlines our commitment to broadening BH Global's shareholder base and thereby increasing secondary market liquidity," said Lord Turnbull, chairman of BH Global.

"The Bermuda Stock Exchange listing will increase BH Macro's profile and will give BH Macro access to a wider range of investors," said Ian Plenderleith, chairman of BH Macro.

Greg Wojciechowski, president & CEO of the BSX, said: "We are delighted to welcome BH Global Ltd. and BH Macro Ltd. to the Official List of the BSX. These two Brevan Howard managed funds join a prestigious group of international funds and corporate entities that have listed on the BSX.

"They have a high regulatory standard and are a great complement to the listed companies we already have on the BSX and it is also a fantastic opportunity for the jurisidiction as well to have a company of Brevan Howard's calibre listing here and holds us in good stead."

Bob Richards, president of Bermuda Asset Management, who supplies local investors with information about Brevan Howard's two funds, said it was good to be involved in setting up the listings of such high quality in Bermuda in light of the current global economic tension and uncertainty.

No additional capital raising was undertaken and no new securities were issued by either company in connection with the listings.

Both BH Global and BH Macro are feeder funds, with BH Global solely investing in the Brevan Howard Global Opportunities Master Fund. The Brevan Howard Global Opportunities Master Fund seeks to spread risk by investing in a variety of underlying funds managed by Brevan Howard to provide exposure to a range of strategies, asset classes and geographies.

BH Macro invests in the Brevan Howard Master Fund, whose investment objective is to generate consistent long-term appreciation through active leveraged trading and investment on a global basis. The Brevan Howard Master Fund employs a combination of investment strategies that focus primarily on economic change, monetary policy and market inefficiencies.