Decision time for British Assets shareholders


#1

Investors in the trust which has spawned three centuries have until later this month to decide on a radical change of both investment manager and inve
[See the full post at: Decision time for British Assets shareholders]


#2

I’m not a shareholder in British Assets but although it pays a good dividend in its current form it doesn’t look sustainable to me and the Board knows it.

I don’t know if the BlackRock Income Strategies solution will be much better but you have to trust that the Board has carefully considered it before making the move and I cautiously welcome it. Might even invest myself.

What is a shame is that they’re changing a great historical investment trust name, is there really any need for this? It’s one of the quirks I love about investment trusts, quaint names that point to a rich and often fascinating history.


#3

I’m not a shareholder either but the previous articles explain it in a little more detail, and especially the plans that Blackrock have for it.

I think it sounds like it is a good move too but the devil will be in the detail and although this way of investing has worked in some of their other funds it’s still kind of new, and I dunno, but it seems like it all depends a kind of “sophisticated” investment strategy that might go awry just like with all those Hedge fund wise guys.

I hope it works but I’m going to watch it for a little while before I invest any of my money.


#4

I used to be a shareholder in British Assets but became disillusioned by its poor performance and sold up. Although Phil Doel has made some progress, it was about time that the board took radical action to improve things.

With 65% in higher-yielding British equities and most of the remainder in foreign equities the old mandate was an odd hybrid between a UK Equity Income trust (with up to 10% in non-UK investments) and a truly international trust. The new mandate looks to offer a return better suited to current equity income requirements.

It’s a shame they’re changing the name, but perhaps the new name more accurately reflects the new objectives.


#5

I think it’s such a shame and I’ll be voting against it. I have always viewed my British assets holding as being with a safe pair of hands that pays me a bloody good yield without taking unnecessary risk with my money.

I do not want to own something as opaque and hard to figure out as what Blackrock is proposing.

And why on earth are they changing the historic British Assets name to a nondescript Blackrock variety.


#6

I’m with you @dunkuring (love the name!), I think it’s like a breathe of fresh air in the staid investment trust world. There needs to be more products like this.

I’d love Standard Life to bring their GARS fund to an investment trust format. It would be perfect for it and I would have preferred GARS over the BlackRock offering (which is a little different anyhow).