BR.Assets Trust Share Discussion Threads

[deanforester] 01/2/2015 22:20

If you already have a certificated holding, it is outside the F&C Asset Management orbit, as far as I can see, so no action required.

[rich1952] 01/2/2015 19:41

Thanks Dean. I have a certificated holding and I expect procedures might become a bit clearer nearer the time but I still have some other questions to ask so will be trying the helpline tomorrow.I wonder what will happen to the share price in the next few weeks.

[deanforester] 01/2/2015 17:38

Having read the letter, it seems that you have the option to liquidate the BSET holding inside the F&C Investment plan and reinvest the cash realised in another trust which F&C manage (Option 1), or you can opt to have the cash paid to you (Option 2), or you can opt to transfer the BSET shares either to a certificated holding or to another plan manager (Option 3), or else you can opt to just hold the cash, which will be done automatically if you do nothing (Option 4).

Option 1 will be carried out by F&C at effectively nil cost.

If you choose to take option 3, Blackrock will pay the costs unless you transfer to another manager. You have to apply to Blackrock or the other manager in this case.

You have until 30th April to make your mind up.

[topvest] 01/2/2015 16:10

I think the Board have made a poor choice here. They had so much better opportunities than this to get a decent manager with an intelligent strategy, yet we get this opaque multi-asset rubbish with a tender offer. They have NOT served shareholders well at all in my view.

[rich1952] 01/2/2015 14:14

I wish I could help you Spec, but I'm struggling with the basics!

I want to carry on holding my shares in British Assets and I thought it was just a change of name and strategy but I'm reading the documents to mean that I've got to apply to Blackrock to get my holding transferred to them. I hold an FANDC account with lump sum investments in British Assets and the FANDC Capital & Income Trust.I thought all this was going to be automatic unless a holder wanted to sell out.Hope the help line's not too busy tomorrow!

[specuvestor] 01/2/2015 10:21

Does the proposed targeted total return of 4% + inflation include the proposed dividend of a minimum of the existing 6.44p per share? The dividend alone makes a yield of 4.9%. Does this mean that there will be no capital growth in this fund?

However much I read the company announcement I cant work this out.

Can anybody shed some light?

[rich1952] 17/1/2015 19:26

topvest, fair comment. This is not really my specialist area but I hope we might see some positive action this year.I suppose in the BOD defence,this is a very major move for such a staid old business so they wanted some degree of caution.

[topvest] 17/1/2015 17:56

For a trust founded in 1898 I really think they could have done better. Did they not conduct a beauty parade of the best managers around? Instead they seem to have gone for a rather non-mainstream investment mandate. Very poor! I could name 3/4 managers that would be far better. The Board are rubbish at this trust.

[topvest] 17/1/2015 13:20

It looks a bit of a poor move in terms of their strategy switch. Surely, they could have found a better mandate than this eclectic BlackRock approach? Not impressed and will probably vote against it.

[rich1952] 16/1/2015 17:12

Thanks Skyship. Much appreciated.

[skyship] 16/1/2015 16:37

Citywire tells the full story:

[skyship] 16/1/2015 16:28

An opportunity to sell 20% of your holding at close to NAV; ie, at the moment perhaps at 131p versus the 126p bid in the Market. The new managers will be restructuring the portfolio into Absolute Return mode. There will be dealing costs in doing so; but we end up with a trust less subject to the vagaries of the Market - that is the intention at least. Thet target CPI + 4%pa. They will also be applying a Discount Management System so as to closely align the share price to the underlying NAV.

On this basis I bought a few after EI (above) brought to my attention with a post on the SHA thread.

[essentialinvestor] 15/1/2015 13:44

Bought a few yesterday, nice discount which under the new strategy will
hopefully markedly reduce, vote on proposals next month and the largest
shareholder appears to have backed the BOD, all IMV only.

[topvest] 30/10/2014 21:45

Possibly because F&C have managed this poorly over a number of years. Time for a change. Policy looks OK. BlackRock are probably a better manager, but not the best option in my view. Happy to keep holding and see how they do. Dividend looks like it will be maintained and the tender offer proposal will keep the discount down. It does make you wonder whether F&C are disintegrating. Will they lose the Foreign & Colonial Investment Trust plc mandate next?

[vraic] 30/10/2014 20:39

As a holder I ask why the news and change of manager???????????????

[unastubbs] 18/7/2014 14:42

now at 7% discount according to trustnet



something not right here...

[northernlass] 08/5/2012 04:39

Today's Must-Buy Dividends

Searching for Today's Must-Buy Dividends

My favorite here is the British Assets Trust (ISE: BSET.L) , two-thirds invested in UK shares. It is up 58% over three years and yields a juicy 4.9%. It trades at a small -2% discount and has an acceptable TER of 0.74% and a track record that stretches back to 1898.



Also,

Here's a couple of links about SCLP, one of the hottest stocks at the moment:

[gateside] 17/2/2008 11:19

Country (or region) / Sector %

UK 62.4
Europe (ex UK) 6.2
North America 11.1
Japan 3.3
Far East (ex Japan) 5.1
Corporate Bonds 6.0
Cash 5.9

Total 100.0

[gateside] 04/1/2008 10:07

The largest ten investments and all investments with a value greater than 5% of
total assets as at 31-Dec-07 are

Company % Total Assets

BP 5.4
Vodafone 3.2
Glaxosmithkline 2.7
Royal Dutch Shell B 2.4
RBS Group 2.3
HSBC 2.3
Astrazeneca 2.0
Anglo American 2.0
Centrica 2.0
Standard Life Euro 1.8

[gateside] 04/1/2008 10:04

British Assets Trust invests in an international portfolio of company shares and equity-related securities and is managed with an emphasis on regional asset allocation, as well as active stock selection in the regional sub-portfolios.

Most of the investments are securities traded on the London Stock Exchange. The Trust pays a good quarterly dividend whilst providing the potential for capital growth. It invests in a highly diversified portfolio.

Highlights

Established in 1898
Among the largest investment trusts in its sector
Pays dividends four times a year

Aim

To achieve a total return in excess of an index composed of 75% FTSE All-Share Index, and 25% FTSE World ex-UK Index. British Assets Trust aims to maintain a progressive dividend policy.

[ntv] 30/10/2006 19:23

small long (17.5k) on friday at 36.25

[flateric] 18/10/2006 13:27

Just found this on asca. Looking like a short...?

Snapshot just now.