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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Blue Plan.uts | BPFU | London | Packaged Unit |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 29.50 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 29.50 | 29.50 |
| Top Posts |
|---|
Posted at 16/1/2008 13:29 by stun12 I'm a little mystified by the discount to NAV - I thought that logically this should only apply to investments where liquidity or valuation issues arose. BPFU is 46% cash or near-cash and the manager, who has been bearish for a good while, says his (or our!) long equity positions are hedged. He looks well positioned to take advantage of lower prices - once we get there - so I don't really understand why the discount (showing on Bloomberg at 24% - don't know whether that is diluted or not) is so large. Must say that the structure of the funds leaves a lot to be desired on the opacity front. Had to read the description on the BP website about 5 times before I had the faintest idea of what was going on.I bought these because Trustnet showed an even greater discount to NAV - think I paid about 170p for them, with a gross 30%-ish discount, so I'm not complaining, just a bit confused! They're in a SIPP so probably there for the long term. Any other longs out there? Any views on what is likely to happen come warrant expiry year (2010?) - is there a wind-up option to realise the discount? |
Posted at 02/1/2008 11:19 by tuckswood8 The warrant units (BPFV) have an exercise date of July 2010, and each warrant unit gives the right to purchase ten equity units (BPFU) of the investment trust. Warrant units are exercisable at 1000p, and there is an annual opportunity to exercise.The structure of the BLUE PLANET GROWTH&INCOME INVESTMENT TRUST is so complicated, especially following the 10 for 1 split, that it is virtually impossible to understand. I believe that this has seriously affected the warrant perfomance since the split and that BLUE PLANET MANAGEMENT have an obligation to explain and simplify matters. Having said that, I did go back into warrants at 1025p in December and expect to see a strong rise over the next few months as the financial sector recovers from the sub-prime debacle. .................... |
Posted at 25/1/2007 17:11 by tuckswood8 Copied my earlier chart to make it easier for me to keep track of relative performances.I should have got back into BPFU back in December but didn't as funds were tied up elsewhere. Increased holding of BPFV on 15th January when I thought they looked undervalued again.... good to see quoted spread on the warrants has now narrowed. |
Posted at 25/1/2007 16:55 by tuckswood8 .................... |
Posted at 21/12/2006 18:42 by jhan66 tuckswood- wonder if it's not too early to get back in?SBer up 5% in a week, BPFU down 5% |
Posted at 15/12/2006 09:41 by tuckswood8 Agree totally jhan, hasn't quite reached my target but it has been a good run and I am also now out of BPFU, although I have retained a small holding of BPFV as I believe the warrants are now undervalued relative to the units.This trust has been the best performer in my portfolio over the last two years and I am confident that the management will adjust the holdings in the light of changing situations, and I too will be looking to buy again. |
Posted at 11/10/2006 14:00 by tuckswood8 I am looking for 15% discount to NAV by November with a strong rise in NAV to the end of the year. Expect to see £2.80 by January.Still keen on the warrants; bought more a couple of weeks ago and my split is now BPFU 50%/BPFV 50% Now showing a true gain of over 17% on total holdings since I went in again in July. BPI have got things together again and this time G&I are going with the other ITs. |
Posted at 08/9/2006 10:07 by tuckswood8 Pcscambler,I have never had any problems setting a stop-loss or selling BPFU or BPFV online with TDW. My warrants are listed as Units of warrants 1 - 10. I place my orders using the normal share trading screen not the fund supermarket one. This may possibly make a difference. I am not sure that the suggestion re. discount would have the desired effect. BP Management have been buying BPFU regularly and the hedge fund now holds 4.5% but this has not reduced the discount. I do think that the structure of the trust and the long complicated name deters some potential investors, but you will recall that at the EGM the proposal to change the name was thrown out. I bought some more BPFV a couple of days ago and the price seems to be moving along nicely at present. |
Posted at 04/9/2006 16:52 by pscambler Tuckswood,I use TDW and they list my warrant units as the underlying 10 warrants. Are you saying that TDW allow you to set a stop loss (and subsequently sell) the warrant as a package unit? I think BP should try and address the discount issue, maybe by getting rid of the old structure which has long sicne served its purpose. It would not be fair on BPW to merge, but it would help shareholders of both trusts if BPW started to buy BPFU (obtain underlying shares at a discount and reduces BPFU discount) until discount reduced to less than 10% |
Posted at 31/8/2006 09:26 by tuckswood8 Agreed the spread on the warrants is typically twice that of the ordinaries but the potential rewards on any price rise are also much greater. I don't think that the trust is constrained by the general market conditions at present because of the large discount to NAV compared with BPW. There has to be a partial correction in the near future and the warrants stand to benefit more from this.Last year my holdings were split 40%BPFU/60%BPFV, at present I have 80%BPFU/20%BPFV so I am not now as confident of the warrant perfomance, but I consider the potential is worth the risk. I use TDWaterhouse and have never had much trouble dealing in the warrants... the only poor result was in May when my warrants were sold 20p below my stop-loss in the rapidly falling market. |
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