Blue Planet Investment Share Discussion Threads

[ianst99] 16/3/2006 12:40

worth a read

[cezary] 15/3/2006 10:47

Polish Government wanting back control of Polish Banks from Western Investors.

[foster] 14/3/2006 14:50

A number of reasons...
Sharp fall in Russian index.
Direction of interest rates
NAV falling.
Stop-losses being triggered.

Plus charting negatives...
Following the bounce above 50day average, the s p has now broken down through it.
Symmetrical head-and-shoulder forming.
Next resistance level in 125-135 range.

Keep watching for another buying opportunity.

[royalt] 14/3/2006 11:49

Why the slide?

[ianst99] 13/3/2006 11:10

back in again today
NAV +2.5 on the month
discount now -9.8 from trustnet
BPW similar share discount now +10.1 from trustnet

[belize1971] 08/3/2006 21:24

Fund Manager's Review

In February, our net asset value ("NAV") rose by 7.8% to 173.5p, a record high, and the Trust outperformed its benchmark
index, which rose 5.5%. Our share price continues to rise strongly, up 17.7% in the month, 139.5% in the last year and
430.8% in the past three. The shares are trading at a 4.3% discount to NAV.
The Trust is ranked 1st out of all 20 investment trusts in the European Sector, both in terms of NAV and share price
appreciation over one year by Trustnet and 1st out of 19 investment trusts over 3 years. In terms of its ranking against all
conventional investment trusts, it was 2nd out of 260 in terms of share price appreciation and 3rd out of 246 in terms of
NAV over one year.
Seven of the companies we are invested in reported their full year 2005 results in February 2006. All were excellent.
• DnB NOR Bank. Net Income (NI) up 23% to €10bn, Earnings per Share (EPS) rose 21% to €7.59. Return on Equity
(ROE) at 18.8%. During the year DnB NOR and Norddeutsche Landesbank, NORD/LB established a jointly owned bank in
the Baltic Sea region.
• Piraeus Bank in Greece. NI up 61% to €283m. EPS up 105% to €1.33. ROE up to 21% from 14.9% in 2004. In 2005 the
Bank crossed the threshold of 1.5 m customers in Greece and its loan portfolio increased 31%.
• National Bank of Greece NI increased 100% to €727m and EPS up 151% to €2.08. Its Cost/Income ratio (C/I) improved
significantly from 65.7% in 2004 to 54.2%. The key factors to their strong results were increasing revenues and a 40 basis
point increase in net interest margin.
• Bank Przemyslowo-Handlowy NI and EPS up 35% to PLN 1.0bn and PLN 35.8 respectively. ROE rose to 16.7% from
13.7% in 2004. Despite expansion in 2005 BPH managed to reduce operating costs and improve efficiency. C/I was 49.9%
in 2005.
• Societe Generale NI rose 36% in 2005 to €4.4bn. EPS up 35% to €10.9. ROE improved from 20.1% in 2004 to 25.3%.
These full year results were boosted by a very strong final quarter of the year, in which NI rose 42%.
• Finansbank in Turkey NI and EPS both rose by 68% to TRL 470 and TRL 0.495 respectively. Finansbank's loan book
grew by 35% in the year.
• Turkiye Garanti NI up 57% to TRL 708m. EPS up 57% to TRL 0.337. Garanti saw loan growth of 46% in the year.

[nooption] 07/3/2006 23:13

Any idea the cause of last two days fall anyone?

[zapherz] 07/3/2006 12:37

Yes it was getting a bit ahead of itself! UNfortunately no funds available for a top up :(

Z

[foster] 07/3/2006 09:49

This morning's shake-out should raise the discount to a comfortable level and IMO BLP is back to being good value. Buying again.

[jhan66] 23/2/2006 13:05

bit of related write-up courtesy of Bedlam Asset Management, dated 10th Feb-

We have exited the Russian bank following a tripling of the share price in under a year. Having reviewed our earnings forecasts we believed they fully factored in a blue sky trajectory for the Russian economy. In addition the stock reflected our projections, having exceeded our target price. The biggest risk for Sberbank over the next two years is a jump in its funding costs as the current excess global liquidity tightens.

Sberbank is Russia's largest bank, and arguably the only one with a truly national branch network. The company is 60% owned by the Russian central bank, which on the downside leads to risk of over-staffing but on the upside means that Russians feel safe depositing their earnings in Sberbank. We expect that Sberbank will partake in the nascent Russian consumer boom, and has hired staff precisely for this. Sberbank owns substantial quantities of Russian government debt (which has recently been upgraded to investment grade and is being bought back by the government).

[nephin] 17/2/2006 22:27

New Star Fin - just type in the epic NST and it will come up (do not confuse it with New Star Asset Management)

Nephin

[easy74] 17/2/2006 12:11

what company is nst?

[easy74] 17/2/2006 10:53

thanks for all your input guys.....appreciated.

[nephin] 16/2/2006 23:04

Easy74:

If you are interested in these hot ITs have a little look at NST.

Good luck

Nephin

[slips] 16/2/2006 22:28

easy74
If you look at the BPW share price price it was at a 20% discount also just a few weeks ago, it has only in the last 2 weeks for the first time overtaken the NAV - I think it too is at a risk of a correction soon.

Few things to note about BPL and BPW are that both are highly geared which partly explains the spectaciular rises and consequently there can be even bigger falls.

Having said this, I think this year would be a great period for the banks and in the second half of last year till now we had merger and takeover activities which experts predict to continue well into the year. Especially as the big western european banks get interested in their eastern european counterparts and also it is predicted that there will be massive growth in Russian, Turkish, Polish banking sectors as there mortgage markets take off and eventually mature.

So in conclusion, both would be great investments but one needs to time it right - don't buy at the top and sell at the bottom - i'm sure as with all equity investments there will be opportunities

[nooption] 16/2/2006 21:44

joeycooper
where did you get that figure from

[joeycooper] 16/2/2006 18:51

Blue Planet Financials Growth & Income I.T. units are still on a 20+% discount.

[easy74] 16/2/2006 12:20

thanks slips. I understand where your coming from but for example BPW share price and the nav differ greatly and that has not stopped BPW soaring northwards.

[slips] 16/2/2006 11:12

easy74

I got in at 1.48 last week but will personally wait now to see where the NAV goes to on the 20th. I would not buy if it is at a premium especially because the share price has risen sharply in Jan/Feb when it was at a 20% ish discount.

[easy74] 16/2/2006 10:59

is it worth buying into this trust guys....all feedback welcome.

cheers.

[slips] 16/2/2006 10:54

Going up through the roof!!
Its now on a premium on the NAV price of 13th

[malcolmmm] 15/2/2006 13:55

what can one say

[belize1971] 09/2/2006 14:20

Fund Manager's Review
In January, our net asset value ("NAV") rose by 10.5% to 160.94p, a record high, and the Trust outperformed its
benchmark index, which rose 3.3%, by a considerable margin. Our share price continues to rise strongly, up 23.7% in the
month, 110.9% in the last year and 291.5% in the past three. This month's catch-up in the share price means that the
discount to net asset value has narrowed to 12.4%.
The Trust continues to be ranked 1st out of all 20 investment trusts in its sector, the European Sector, both in terms of
NAV and share price appreciation over one year by Trustnet. As regards the Trust's performance against all conventional
investment trusts; it was ranked 4th out of 245 for NAV appreciation and 4th out of 260 for share price appreciation both
over one year, by Trustnet.
We realised profits on two of our holdings during the month; PKO Bank Polski in Poland and ABN Amro in the Netherlands.
New investments have been made in Den Norske Bank and Turkiye Garanti Bankasi. Den Norske Bank is located in
Norway, which is one of the stronger performing European economies. The bank is rapidly increasing its efficiency and
diversifying its earnings and we believe its share price does not yet reflect the bank's future potential. Garanti Bank in
Turkey is a rapidly expanding bank that is in our opinion well placed to benefit from the economic growth in Turkey and the
development of the mortgage market in that country.
Two of the companies we are invested in reported results in January 2006. Both were excellent.
• BBVA reported its full year 2005 results. Net Income (NI) rose 30.2% to €3.8bn, Earnings per Share (EPS) increased by
29.5% to €1.122, Return on Equity (ROE) was up to 37.0% from the 33.2% reported last year. Domestic business in Spain
was strong, but the main profit driver was their businesses in the Americas, predominantly Latin America, where net profits
increased 52.3%.
• Deutsche Bank reported their preliminary 2005 full year results. NI was up 53% to €3.8bn, EPS increased 64% to €7.25.
Cost-to-income (CIR) improved significantly to 73.7% from the 79.9% reported in 2004. This year has seen good profits by
investment banks, and Deutsche Bank's full year results were boosted by a very strong 4th quarter of 2005.

[malcolmmm] 25/1/2006 10:37

spread is wide, looks like some big orders in the pipe line?

[zapherz] 18/1/2006 12:39

Yes thanks Jhan interesting post.

Roller coaster ride today again!

Best regards to all holders

Z