Share Name Share Symbol Market Type Share ISIN Share Description
British Empire Trust LSE:BTEM London Ordinary Share GB0001335081 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.50p -0.07% 719.50p 719.50p 720.00p 721.50p 718.00p 719.50p 57,726 14:34:40
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 0.0 12.9 10.4 68.9 887.56

British Empire Trust Share Discussion Threads

Showing 76 to 100 of 150 messages
Chat Pages: 6  5  4  3  2  1
DateSubjectAuthorDiscuss
18/1/2017
15:29
Hudson's Bay still features as a case study on their website. They should update that indeed, the page was last updated on June 15th, 2015. They could swap that story for one about Riverstone. But well, you win some, you lose some...
vacendak
18/1/2017
14:58
They certainly don't get them all right - DCI was a notable failure, even after recent 100% bounce.
spectoacc
18/1/2017
14:44
Hudson's Bay seems to have come a cropper for them since
mw8156
18/1/2017
11:41
I went back in at 620p (slightly before the ex-divi date, which was unplanned so made for a happy coincidence), half expecting to register a loss since I was buying on the way up. It is still going up and it is currently at 650+p so I could survive a bit of trimming. Happy overall. Of course Lady Greed makes me wish I had gone back into it more convincingly. :) They have a strategy and re-assessed their tactics (end of 2015) with the more focused portfolio approach. I like when people have convictions and act accordingly.
vacendak
18/1/2017
11:06
Agreed. Not a holder anymore but hoping to get back in sometime. "With the portfolio discount at 27% (and the double discount at 35% when one adjusts for the discount on British Empire’s shares), there is still latent value in our holdings and in British Empire's shares. We also estimate that approximately half the portfolio could be subject to specific events in 2017 that would unlock value, with these ranging from IPOs or trade sales of key underlying assets, to restructuring and wind-ups. There is also no shortage of investment ideas, both existing holdings and new positions, into which we plan to recycle capital as it is distributed to us. "
spectoacc
18/1/2017
10:59
December factsheet out: Http://www.british-empire.co.uk/content/uploads/2017/01/British-Empire-2016-DEC.pdf Basically, a well deserved pat in the back for what they achieved in 2016. Despite all the good deals during last year, the discounts (effective and look through) are still wide, which is interpreted as still "more value" for 2017.
vacendak
05/1/2017
16:34
BTEM is still holding some LMS, these seem to be going nowhere. http://uk.advfn.com/stock-market/london/british-empire-BTEM/share-news/British-Empire-Trust-PLC-Listing-Rule-15-6-8/73549788 LMS is one of the few on the PE thread that is heading in the wrong direction. http://uk.advfn.com/cmn/fbb/thread.php3?id=26570589 Hopefully Mr Bauernfreund knows better.
vacendak
21/12/2016
12:04
And buying more of Riverstone: http://uk.advfn.com/stock-market/london/british-empire-BTEM/share-news/Riverstone-Energy-Limited-Holdings-in-Company/73346287
vacendak
15/12/2016
13:21
Article/report on BTEM: Https://stifel2.bluematrix.com/sellside/EmailDocViewer?encrypt=db6071b5-67a5-4b5a-80b7-0154db2cf420&mime=pdf&co=Stifel&id=joe.bauernfreund@assetvalueinvestors.com
vacendak
12/12/2016
09:20
The new factsheet is up: Http://www.british-empire.co.uk/content/uploads/2016/12/British-Empire-2016-DEC.pdf Moaning a bit about Sterling being on the up, or "less worse catastrophic collapse than earlier on". To be fair, it does work both ways as in the following interview, Bauernfreund accepted having a lot of wind in the sails recently thanks to Sterling tanking: Https://money-makers.co/value-investing-rebound/ Good news from the Athene multi-step IPOs. These were mentioned in the FT recently: https://www.ft.com/content/f87f1da4-be2e-11e6-8b45-b8b81dd5d080 President Trump's expected "Drill Baby Drill!" approach seems positive for Riverstone Energy. Dolphin Capital Investors (DCI) is selling its assets as indicated in the latest Annual Report. Hudson's Bay is down, which does not look good for image purposes since it is advertised as a poster-child investment on the website.
vacendak
01/12/2016
11:15
Ex-dividend today. 9.7p regular and 2.8p special.
vacendak
17/11/2016
08:44
Just restarted a share-plan with them. The share price may be high, but as indicated in the aforementioned link provided by Dave, the value of the through discount is still big, hence a lot of potential left to realise. That will also indirectly give my pf a little exposure to Japan/Pacific and also Continental "old money" funds. This could be old news, but they have a document about their history: Http://www.british-empire.co.uk/hidden-value/british-empire-trust-125-years-book/ It used to be called the "Transvaal Mortgage Loan and Finance Company". As history unfolded, it is evident that the trust had not always made the best investment choices along the years. They even had a shareholder revolt "verging on a boardroom coup, in 1928". Investing in the Transvaal right at the onset of the Boer War was not "value investing" at its best. :)
vacendak
16/11/2016
18:29
masterinvestor.co.uk/funds-and-investment-trusts/british-empire-trust-upside-potential/?utm_source=Daily+Bulletin&utm_campaign=b35d799aaf-MI_MR_20161116&utm_medium=email&utm_term=0_25eff0bb7f-b35d799aaf-34956193
davebowler
11/11/2016
19:57
Yes, its about time for a good year. Helped maintain some faith in their VALUE picking skills. Happy to hold.
topvest
11/11/2016
07:57
Indeed, still not letting on! Couldn't see anything new in the AR.
spectoacc
11/11/2016
07:46
Specto - from the Oct' Factsheet: "We continued to add to a new closed-end fund position we are building,..."
skyship
11/11/2016
07:23
Annual report out - had forgotten quite how well they've performed this year. Larger divi would have been nice but they've had a year that's hard to fault.
spectoacc
20/10/2016
15:27
@vacendak - agreed re hoping to get back in on the cheap - and to be fair to BTEM, they're relatively cheap if you take the discount as the main determinant of value. I just feel like a few of their holdings have been on a tear, largely or mainly thanks to £ weakness, & that it'll reverse again. If I'm wrong, I'm wrong - what's most likely is that they will fall back eventually and I'll never buy back in, then sit here cursing :)
spectoacc
20/10/2016
12:14
@Specto Same here, BTEM was an old friend, sort of thinking getting back in at some point too, potentially at the next world shattering event to re-enter on the cheap. I have been actively monitoring BTEM in my spreadsheet for the past six months now. I like what I see, but still prefer to keep my money elsewhere... as it seems expensive now.
vacendak
20/10/2016
10:51
Have had a very good run in these and finally out today - will be back, but wanted the money elsewhere. Against selling: the discount (c.12%, pretty wide for BTEM since it's effectively a "double discount" to all their holdings); the progress made under new lead manager; non-Sterling exposure; strong performer deserving of tighter discount. For selling: "can't go bust taking a profit", expectation that Sterling will eventually mean-revert (could as likely lose another 10%), and number of holdings I have in common with BTEM, though JPEL currently the only substantial one. Also the dividend - barely 2%, and whilst I know BTEM isn't set up as a dividend stock, I just wonder when returns will be seen. (Yes - they'll be seen by holders selling shares. Well, that's what I've done). Will try to avoid posting on this thread since I'm now a BTEM bear hoping for it to fall back and me buy back in ;)
spectoacc
05/10/2016
17:29
masterinvestor.co.uk/funds-and-investment-trusts/british-empire-trust/?utm_source=Master+Investor&utm_campaign=6635eb547b-Master_Investor_Daily_Bulletin10_5_2016&utm_medium=email&utm_term=0_25eff0bb7f-6635eb547b-34956193
davebowler
30/9/2016
12:31
Winterfloods; British Empire Trust attempts to exploit valuation anomalies in specific areas of the market that, in our opinion, benefit from specialist, fundamental research. This includes investment trusts, European and Asian holding companies and property funds. We believe that the resultant mandate is unique in the investment trust universe and the experienced team at Asset Value Investors (AVI) has generated impressive long-term returns. That said, performance over the last five years has been disappointing compared with its global peers, reflecting both its World ex US investment universe and the decision to maintain a significant degree of liquidity. n Under Joe Bauernfreund’s sole stewardship the fund has retained its value discipline, although the portfolio has moved to a higher conviction approach and modest gearing is now deployed. There is now a far greater emphasis on ‘key events’ that will lead to discount tightening and the AVI investment team has been increasingly prepared to become actively involved to improve corporate governance and unlock potential shareholder value. The current portfolio is estimated to be trading on a 32% discount to its intrinsic value. n These changes have resulted in a marked pick-up in performance and, since October last year when Joe was appointed sole manager, the fund’s NAV is up 33% compared with 29% for its benchmark, the MSCI AC World ex US index. In addition British Empire is one of the best performing global investment trusts in this period. Furthermore the fund’s discount has tightened this year from 14% at the start of 2016 to 9% currently. This has been supported by a buyback programme that has seen 4.7m shares bought back in the first eight months of the year, equivalent to 3.6% of the share capital. n We believe that, as a result of these changes, British Empire is a fundamentally more attractive fund and, while its specialist mandate will still result in periods when performance will vary from its benchmark, there is now greater potential to generate attractive, long-term returns.
davebowler
29/9/2016
14:15
Hello LM, Seen you on the UTL thread. As stated in a previous post here, I used to be onboard BTEM and now half-regret having left. Considering getting back-in and even buy BREM, their 2023 bond. It had been a dog for a while a couple of years ago but sure looks healthier now. A bit like UIL Ltd in some ways, but surely no regret is having held UTL instead!
vacendak
22/9/2016
00:03
Totally missed this one :/ well done here :)
luckymouse
20/9/2016
15:36
It is announced that the un--audited Net Asset Value per Ordinary share (inclusive of accumulated income) of British Empire Trust plc, an investment trust managed by Asset Value Investors Limited, at the close of business on 19th September 2016 was as follows: Net Asset Value -- Debt at par value: 653.50 pence Net Asset Value -- Debt at market value: 642.84 pence
davebowler
Chat Pages: 6  5  4  3  2  1
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