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British Empire Trust PLC

Geplaatst: 12 Dec 2017 15:25
door marvan

Re: British Empire Trust PLC

Geplaatst: 12 Dec 2017 15:30
door marvan

It is announced that the un‑audited Net Asset Value per Ordinary share (inclusive of accumulated income) of British Empire Trust plc, an investment trust managed by Asset Value Investors Limited, at the close of business on 08th December 2017 was as follows:

Net Asset Value ‑ Debt at par value: 801.34 pence

Net Asset Value ‑ Debt at market value: 792.89 pence

Re: British Empire Trust PLC

Geplaatst: 12 Dec 2017 17:53
door marvan
Portfolio Holdings

Japan Special Situations* 7.7%
Pargesa 6.1%
Exor 5.5%
Riverstone Energy 5.2%
Wendel 5.1%
JPEL Private Equity 4.9%
Tetragon Financial 4.9%
Symphony International Holdings 4.7%
Pershing Square 4.7%
Jardine Strategic 4.6%
Adler Real Estate 4.5%
Third Point Offshore 4.4%
Tokyo Broadcasting System 4.2%
Investor 4.1%
Aker 4.0%
Aberdeen Private Equity 3.8%
NB Private Equity 3.4%
Toyota Industries 3.4%
Fondul Proprietatea 3.4%
Digital Garage 2.8%
Vietnam Phoenix – Private Equity 2.7%
Kinnevik 2.6%
Undisclosed 1.9%
GP Investments 1.6%
Toshiba Plant 1.4%
Vietnam Property 0.7%
Swire Pacific – A 0.5%
Better Capital 2009 0.4%
Ashmore Global Opportunities 0.3%
Ecofin Realisation 0.1%

Re: British Empire Trust PLC

Geplaatst: 11 Jan 2018 20:04
door marvan
BTEM’s NAV was up +1.8% in December, and closed the calendar year up +14.6%. With FX moves netting out to almost zero over the month, the gains came from local currency moves in key holdings. Our largest contributors were Aberdeen Private Equity, Aker, the Japanese Special Situations basket, Adler Real Estate, NB Private Equity Partners, JPEL Private Equity, Tetragon, Wendel, and Cosan Limited. Detractors were Jardine Strategic, GP Investments, Riverstone Energy, and Swire Pacific.

Aberdeen Private Equity (APEF)’s share price climbed +16% upon the announcement that an agreement had been reached to sell its entire investment portfolio at a modest premium to NAV. We made our initial investment in APEF in Apr-17 at a 20% discount to the prevailing NAV, and built up a stake in excess of 25% over the following months at tighter discounts. ... wsletters/

Re: British Empire Trust PLC

Geplaatst: 22 Jan 2018 17:42
door marvan
Since October 2015 to the end of 2017, the trust’s NAV total returns have been 64% - meaning it has comfortably outperformed its average peer, the MSCI AC World index and its own benchmark, the MSCI AC World ex USA index over that time. Though much of that outperformance was generated in 2016 (a year when value investing made a brief return to form following a prolonged period of doldrums), the trust managed to outperform the MSCI AC World index over the course of 2017 with NAV returns of 14.9% despite a clear style headwind. We would argue this shows the benefits of the team’s disciplined approach and stockpicking, with major contributors to returns including private equity trusts (where the team’s own activism and engagement with the board helped drive shareholder value) and their Japanese holdings, which the team have significantly increased their exposure to over the past 12 months on the back of attractive valuations and a change in attitudes towards corporate governance within the country.

https://absolutehedge-website.s3-eu-wes ... PPgXru0%3D

Re: British Empire Trust PLC

Geplaatst: 22 Jan 2018 18:27
door marvan
British Empire Trust PLC (BTEM) Insider Buys £14,418.25 in Stock

Posted by Anthony Sawyer on Jan 21st, 2018 // No Comments

British Empire Trust logoBritish Empire Trust PLC (LON:BTEM) insider Susan Margaret Noble acquired 1,925 shares of the firm’s stock in a transaction dated Wednesday, January 17th. The shares were purchased at an average cost of GBX 749 ($10.16) per share, for a total transaction of £14,418.25 ($19,552.82).

Shares of British Empire Trust PLC (LON:BTEM) opened at GBX 748 ($10.14) on Friday. The stock has a market capitalization of $858.36 and a P/E ratio of 644.83. British Empire Trust PLC has a twelve month low of GBX 646.50 ($8.77) and a twelve month high of GBX 755 ($10.24). ... stock.html

Re: British Empire Trust PLC

Geplaatst: 07 Feb 2018 12:07
door marvan
Fans of Warren Buffett may like value plays, finding under-priced assets capable of unlocking underappreciated returns potential.
Topping the broker’s selections in this segment is British Empire Trust (BTEM). It is managed by Asset Value Investors’ Joe Bauernfreund, who has been in the hotseat since October 2015.
His mandate is to find undervalued stocks around the globe, but outside of the US.
Since Bauernfreund took the helm the trusts has outperformed is benchmark MSCI World Index in NAV terms by 17%. Its NAV total return of 13% last year was driven primarily by two of its top holdings, Wendel and its Japanese Special Situations which is a basket of 17 Japanese stocks. ... ent-trusts

Re: British Empire Trust PLC

Geplaatst: 09 Feb 2018 18:43
door marvan

Re: British Empire Trust PLC

Geplaatst: 10 Feb 2018 09:45
door tosca
marvan schreef:January 2018 newsletter ... 18-JAN.pdf

Ben aan het instappen. Zitten nog al veel in Japan overwogen. I ike it.

Re: British Empire Trust PLC

Geplaatst: 06 Mar 2018 13:54
door marvan
Is it worth paying a triple layer of fees on this fund of trusts? ... -of-trusts