B.p. Marsh & Partners Share Discussion Threads

[thrugelmir] 18/10/2022 20:14

BPM have a good track record in their specialist field. Far easier to understand than their bigger PE brethren. When Mr Marsh departs the scene. Who is going to control the share register?

[riverman77] 18/10/2022 17:09

Discount looks attractive, but pretty similar to the other PE funds, and actually a lot tighter than some of the venture funds, such as GROW.

[yf23_1] 18/10/2022 16:38

Thats quite a discount to NAV now, about 40% !

Net Asset Value at 31 July 2022 GBP179.8m (31 July 2021: GBP155.0m; 31 January 2022: GBP166.6m)

-- Net Asset Value per share 499.0p* (31 July 2021 430.4p; 31 January 2022: 462.7p)

[thrugelmir] 05/7/2022 11:19

To narrow the discount keep buying the stock. I recall ST once saying. Park your tanks on the lawn when it comes to stocks thats are unloved by the the institutional investors.

[cwa1] 14/6/2022 08:00

Tipped by the IC's Simon Thompson:-

[typo56] 13/6/2022 17:23

They've now issued a correction.

[retsius] 13/6/2022 09:24

Typo56

Well spottted !

[yf23_1] 13/6/2022 08:11

NAV 462p, yet the share price 300p.
Why aren't they buying back shares ?

[retsius] 13/6/2022 08:10

Great set of Results in extremely challenging Markets.

NAV increase substantial.

Cash pile reassuring .

Excellent Profit increase
.
Rid of some `dead wood` investments.

ST on board.

When is Kentra having its IPO? Lol.
R.

[bscuit] 24/5/2022 09:46

and you have been banging that drum for a long time! How old is BPM and what one know about his family? I presume has effective control. A former Midas reckons ST as a top tipster and he continues to recommend the company, which is a puzzle given poor performance.

[retsius] 24/5/2022 04:53

British Bulls: Buy

[skyship] 23/4/2022 14:37

"We remain focussed on taking actions to reduce the differential between Net Asset Value per share and the current share price."

Marsh has been saying the same thing relentlessly for over 10yrs. Occasionally comes out with minimal buybacks.

The only serious way to reduce the discount is of course to pay a serious dividend; but he sees that as giving away cash to the outside shareholders; hence robbing his own pocket!

[bscuit] 08/4/2022 17:03

ST influence waning?

[skyship] 08/4/2022 16:38

"It remains the Board's aspiration to maintain a dividend of at least 2.78p per share for the years ending 31 January 2023 and 31 January 2024, subject to ongoing review and approval by the Board and the Company's shareholders."

So Marsh provides his outside shareholders with a yield of under 1%! Really taking the mickey...

[km18] 08/2/2022 17:21

...from Q4 last year...

BP Marsh & Partners plc posted interims for the 6 months to July 2021 yesterday. Net Asset Value at 31 July 2021 was up to £155.0m from £142.6m a year earlier. Consolidated profit before tax was £6.2m down from £6.5m. Total shareholder return was 9.3% for the 12 months since 31 July 2020, inclusive of the July 2021 dividend paid. Current cash was £3.5m (including a £2.6m loan facility), cash availability (including loan facility) will increase to £5.5m following a £2.0m loan repayment from an investee company. A decent return and decent cash pile to invest in other opportunities - the Group currently participates in 17 companies and is in discussions with a number of interested parties regarding new investments. The company is not a bad way of getting exposure to a portfolio of early stage financial services intermediary businesses. Valuation is reasonable on a forward PE ratio of 8.6. Steady, but not overly exciting. One to monitor....from WealthOracleAM

[cwa1] 08/2/2022 08:13

Trading Update:-



We have had a positive year to 31 January 2022. This began with the early repayment of loans from Stewart Specialty Risk Underwriting Ltd in Canada, and from Nexus Underwriting Management Limited and CBC UK Limited, both headquartered in London.



However, we are particularly pleased with the number of disposals which have been completed in the second half of the year. We have realised our holdings in MB Prestige Holdings PTY Limited in Australia, Mark Edward Partners LLC in the USA and Walsingham Motor Insurance Limited in London. We are also in the final stage of the proposed sale of our majority stake in Summa Insurance Brokerage S.L. ("Summa") in Spain. More information about each disposal can be found below in the Chief Investment Officer's report.



We continue to keep a close eye on the developments regarding Coronavirus but we are encouraged by the recent relaxation of restrictions in the United Kingdom and the fact that business appears to be 'returning to normal'. In line with this, the Company is beginning to return to the office on a more regular basis, adopting a hybrid approach where appropriate.



We are looking forward to 2022 and believe the Company is well positioned to take advantage of opportunities as they arise.

[yf23_1] 21/1/2022 10:46

Seeing as the NAV is way more than the shareprice you would think they would apply a decent dividend to start bridging the gap not the pathetic one we've got.

[skyship] 21/1/2022 08:44

Have to wonder where the share price would be without ST's constant pumping! Certainly below 300p.

[cwa1] 21/1/2022 08:27

BPM the lead tip from Simon Thompson in the IC this week(not that you'd notice by the share price or trading volume!)

The bottom line is that Iwould be surprised
if BP Marsh doesn’t announce a rise in NAV
per share to 450p. Moreover, given the cashrich balance sheet, there could be upside to
the annual 2.44p-a-share dividend. My 375p
target is starting to look conservative. Buy.

[paleje] 18/1/2022 07:56

Possibly someone got wind of another ST tip, issued since yesterdays close.

www.investorschronicle.co.uk/ideas/2022/01/17/exploiting-a-small-cap-value-play/

Positive too, doesn't give a new target but says his exisitng 375p target is starting to look conservative.

[yf23_1] 17/1/2022 16:57

strange movement towards the close.

[1tx] 10/1/2022 11:51

Interesting;LEBC is the one investment we hold that I have had some concerns re the valuation;hopefully I will be proved incorrect,however it is also in a different area from the rest of our insurance portfolio.I wonder if sometime in the future our holding could be incorporated into Tavistock maybe for Tavistock shares which could be sold on to institution holders.