Blue Planet Investment Share Discussion Threads

[cottlet] 17/1/2006 20:34

Thanks jhan66
appreciate your reply

[jhan66] 17/1/2006 12:09

Hi Cottlet,
Bit of related info repeated below from August last year. I know Sperbank is 9th largest holding of Baring Emerging European IT (BEE) too, but don't know how easy it is to get into directly.

MOSCOW, November 16 (RIA Novosti) - Sberbank, Russia's largest state-owned savings bank, will increase its net profit by 37.3% year-on-year to more than $2 billion in 2005 according to Russian Financial Reporting Standards, First Deputy Chairman at Sberbank, Alla Alyoshkina, said Wednesday.

Alyoshkina said the bank's assets would reach $88 billion by the year's end vs. $69 billion at the start of the year, while its capital base would be $8.5 billion vs. $6 billion. She added that the figures might change when the revaluation of assets was taken into account.

Return on equity is expected at 26.6% against 26.3% in 2004, with a 2.7% return on assets vs. last year's 2.5%.

The deputy chairman said Sberbank might also close deals to purchase banks in Kazakhstan and Ukraine before the end of the year, and split its shares to increase its capitalization in 2006
-------------------------------------------------------
The undisputed leader of the Russian banking industry with the market shares of 62% in deposits, 50% in retail lending, 32% in commercial lending, 29% in aggregate assets of the Russian banking sector.

The Bank of the Year 2004 in Russia (The Banker).

The largest bank in Central and Eastern Europe, the 1st on The Banker's Top 100 Banks from 27 transition countries and 152d on The Banker's Top 1000 Banks of the world.

Sovereign ratings from Fitch and the highest in Russia from Moody's.


Sberbank= 16.7% of BLP, also 14.6% of BPlan worldwide & 17.3% of BPlan growth.

[cottlet] 17/1/2006 10:45

The guys on Bloomberg have been speaking of late about European banks merging. Could BLP benefit from this? Seems a good way into Sperbank. It's not possible to buy into this Russian bank through the LSE or is it?

[erstwhile2] 16/1/2006 19:07

Murray's purchases were not market impacting - he bought 33,351 shares of BPFU which is precisely the number of shares which were recently held by BLP (the "European" one - they are all the same really)

Similarly, he bought 146k BPW, coincidentally the same number of shares of BPW held by BPFU at the last release date

I don't doubt also that the 45k purchase of BPFU comes from the 68k holding of BPFU by BPW

In other words, the cross shareholding of the blue planet trusts is somewhat cleaned up and Murray has lifted the lot on a 25-30 discount rather than a simple share swap from each of the trusts.

There is always a danger with a large shareholder that minority investors get what might not be best described as "acts in their best interests"

Nevertheless the whole move into emerging europe was very fortunately timed which is beneficial for all investors.

When does the discount improve? When Murray wants it to. As simple as that. He is effectively full on BPFU without having to make a bid for the remainder, but I doubt any corporate action is imminent as his management company cleans up on fees from all three trusts. I expect he has hoovered up a lot of the warrants too.

[drben] 14/1/2006 13:24

Kenneth Murray got annother 45,000 shares on 13 Jan 06 and now has a holding over 28%

[malcolmmm] 12/1/2006 12:02

Thats mainly why the fund was set up in the first place, to benefit from takeovers and mergers as more countries join the European Union

[rogerbridge] 11/1/2006 21:31

There is a lot of speculation about mergers and takeovers in the European banking system. This is a good way into this sector. I purchased a few days ago.

[foster] 11/1/2006 11:37

Good news. While I was posting yesterday, chairman and CE, Kenneth Murray, was busy purchasing another 2.456% of BPFU (33,351 shares) at £16.275, to bring his total holding to 25.43%.

[foster] 10/1/2006 12:25

The NAV performance of the three Blue Planet trusts since July last year has been outstanding. IMHO the high discount levels are an anomoly that will correct itself. Whenever the discount on any of them falls to 30 I regard it as a buying oppportunity.

Currently BLP and BPW prices have responded to the recent rise in NAV and the discounts now stand at 18.2 and 19.5 respectively and could come down further.

The BPFU price however got left behind. This seems to happen from time to time and after a while it then corrects itself in line with the other two. Its discount is currently 32.8 so, rather than BLP, BPFU is the one I am currently buying. In the last two days the price has started to move. Compare the three price charts over 3 months.

Note that TrustNet's NAV data is out of date... for the latest information look at Blue Planet's website...

[belize1970] 10/1/2006 11:44

Both funds continue to buy SPERBANK (Russia) with holdings of 18.3% and 20.3%

I've never seen a fund so heavily invested in one specific share before!

Discount to NAV now fairly low in historical terms at 17% but with BPFU at 29% - seems highly anomalous to me but switching's so expensive!

[malcolmmm] 09/1/2006 17:57

no wonder these are rising, the NAV is now 150.89p

[malcolmmm] 09/1/2006 11:48

well these are begining to fly

[malcolmmm] 06/1/2006 12:17

They actually get off their bums and go to ivestigate the banks they buy into in Europe and Russia, if sterling gets weaker they will do extremly well

[malcolmmm] 05/1/2006 11:28

A lot of analysts think European banks will do well this year and are under valued, hope so, nice to be making a profit after holding these for 5years, Nav- seems to be shooting up monthly.
I spoke to them a few months ago, the chairman or director holds a huge amount of shares so I doubt that the trust will be wound up

[one for the money] 30/12/2005 12:22

Signing off for the new year. Have a good one, everybody.

Cheers
John

[zapherz] 29/12/2005 23:17

It wont be. So there wont be any effect!

Z

[nooption] 28/12/2005 22:54

What effect will wind up on 30/6/06 have on this trust

[zapherz] 21/12/2005 14:15

Happy Christmas everyone. Lets watch this tick up next year.

Best Regards

Z

[jhan66] 21/12/2005 08:29

wouldn't worry yet about BLP. It's NAV discount narrowed significantly but it's now widened again, closer to historic discount & current discounts at worldwide & BPFU.
as holder of BPFU it's been annoying me that that one stayed out so much- up to 32% at one stage

[one for the money] 21/12/2005 08:02

I think its just returned to the bottom of its current trading range. (time to buy??) If it drops below this current support, I'll be selling. However, IMHO it will rise from here - could reach 120/125 this time

Cheers
john

[zapherz] 20/12/2005 23:02

Wish I knew, NAV up share price down. Market logic I guess. Shame as it was doing nicely until this week. I'm in this one for the long term so not rattled.

Regards Z

[cottlet] 20/12/2005 22:13

Any body know of a reason for the dip?

[jhan66] 29/11/2005 13:59

erstwhile2- thanks for the info. I have benefitted from all the Blue Planet stable over the last few months, but didn't understand why unit 1 in BPFU is performing stronger than the other identical ones today, just a freak of short term I suppose.

Interesting to see your comments about correlations between the 3. they're all on a wide discount. Unwarranted by performance, exchange rate or share picks. I agree BPFU is the cheapest which is my current holding.

[erstwhile2] 29/11/2005 12:52

BPFU is a unit which consists of 1 share of each of the 10 undelrying companies. It was set up like this in the old days as it was going to be a UK building society carpetbagging outfit - hence set up 10 small cos to get 10 bites at the cherry. The 10 Companies are identical in legal strusture, assets etc.

Otherwise, BPFU has a pool of assets which is virtually identical to Blue Planet European or Blue Planet Worldwide. The percentage holdings are a little different, but the correlation of the three is pretty high.

So I dont know why BPFU is on a 30% discount (after the warrant dilution) and the other 2 on a 20% discount - perhaps it is the fear of the unknown structure. But its clearly the cheapest of the three.

It certainly isnt due to the fact that the Blue Planet European has a windup resolution set for next years AGM (which would mean shareholders get their NAV back). The owner of blue planet management is a director of the trust and also owns 25% of it. He will obviously vote for a continuation as he did in 2004 so his management company can geep getting fees out of it. He can also control the other 2 trusts to vote their cross holdings in BLP the same way, so unless like 90% of the other shareholders actually bother to vote for a windup, it wont happen.

[jhan66] 29/11/2005 11:47

trying to understand BPFU /BPFI. (sorry if it's a bit off-topic)
the individual units are all up 6.5% today with No. 1 unit up 19% (BPFA?)
No wonder with diluted assets up from £17.70 to £20.97 in a month.