Goodbye British Assets, hello BlackRock Income Strategies


#1

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]


#2

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.


#3

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?