Goodbye British Assets, hello BlackRock Income Strategies


As shareholders overwhelmingly approve the controversial switch of manager and change of investment strategy, Numis has spotted a buying opportunity a
[See the full post at: Goodbye British Assets, hello BlackRock Income Strategies]


The discount has already began to narrow, it was a little over 6% by end of trade today.

I don’t often side with brokers but I think I agree with them and it is a good time for long term holders to get in.

My only caveat is that nothing is looking particularly cheap right now. if you havent already have a look at the article from John Bennett, the Henderson European fund manager on this site, he says much the same even about Europe which is in vogue at present.


If they’re buying back 20% in a tender offer at a 2% discount to NAV then surely it makes sense to buy now at a 6% discount and sell to them a fifth of your holding at a 4% guaranteed profit, then wait for them to take action if need be to close the discount.

Is there anything wrong with my analysis?