British Empire Share Discussion Threads

[deswalker] 28/4/2010 11:52

I hold as part of a LTBH Inv Trust portfolio. Fortuntately I sold out a few years back at an 8% premium and bought back at an 8% discount.

NAV performance has been disappointing. They have had far too much cash this last year and their investment universe has not been the most popular for investors so prices of various holdings have not kept up with the indices. Hopefully now more straightforward and traditional european shares are approaching full value investors will start to revisit these more esoteric stocks.

Strip out the cash and use the NAV of the individual holdings instead of their prices and you find you're buying a lot of assets for the price. Over time I expect this implicit triple discount to narrow but it has been a poor performer for a couple of years now. Triple discount in the sense of the net-cash implying a double discount for the stock holdings valued at their market value, and so triple discount for the stock holdings valued at their NAV.

John Walton was a great manager. John Pennink has not lived up to his mentor so far and I would hope the Board is making him aware of this and that he must try harder.

IMO this is a good way of diversifying away from more traditional global growth ITs or index trackers to hopefully add some "alpha". But it certainly wouldn't be my main pension vehicle or anything like that. The chances of underperforming (and indeed outperforming) are far too great to take a risk like that. I've got 5% of my portfolio in it and that is enough for me.

HTH

Des

[babylon3] 28/4/2010 10:57

What are peeps current thoughts on this one?

[topvest] 22/11/2009 11:10

Yes, this looks well placed for the long term. Intrinsic value given 10% discount and the fact that underlying investments are also on a 20-30% discount.

[howlaw2] 22/7/2009 07:19

Still a sound long term investment and I'm continuing to put in small monthly amounts for the benefit of my grandchildren.

[howlaw2] 22/7/2009 07:19

Still a sound long term investment and I'm continuing to put in small monthly amounts for the benefit of my grandchildren.

[topvest] 15/6/2009 19:59

I've bought some today as well. A very solid investment trust with a good record,

[1nf3rn0] 30/6/2008 10:41

I added more today - only half of what I put aside. May invest the other half later in the year.

[deswalker] 16/6/2008 09:36

I own a fair few of these in my pension. Not really a buyer except for reinvesting the divis each year, and certainly not a seller for a long time. Good luck with your decision.

[1nf3rn0] 16/6/2008 09:23

I bought into BTEM 3 months ago at 450p. I've got some cash to one side ready to double my holding at some point. I just need to decide when to do that.

Any advice?

The share price seems to be holding up rather well dispite all the chaos going on, so are we likely to see BTEM drop much further now or has the bottom been and gone?

Are there any companies/trusts BTEM are exposed to that could be hit hard over the next few months? From the brief research I've done they all seem fairly defensive.

Is anyone like me waiting to top up and if so what are your entry point?

Thanks in advance

1

[itmak] 24/4/2006 11:27

potential to double/triple your investment within 5 years!!!

Website:

[itmak] 24/4/2006 11:23

potential to double/tripe your investment within 5 years!!!

[itmak] 20/4/2006 12:28

Been in this fund since 1997
this must be one of the best run funds in Europe - long may it continue

[davidbh] 06/4/2006 20:44

Hi Mattb
Good charts- thank YOU.
I bought in for my grand-daughter in 02-04 .
Since then +107%.
It's to pay her school fees/university fees and ?beyond .
Bought in myself in 03-05.
Since = +40%
Wish I'd bought in earlier.
Keep upthe chart

[mattybuoy] 06/3/2006 23:06

Website:

I do like this trust, gotta love the name. If it ever trades on a discount again I may even buy it!

Interesting that the fund management fees are based on an absolute return relative to the yield on gilts. Which works out from 0.4% to 0.8% of net assets. Pretty cheap in comparison to many others.

DYOR.