RubberTiger
03 Jun 2015
Re: Discount to NAV Thanks TX2 - your caution noted and understood. I have also held BPM for some time and am welcoming the rise both yesterday and today.
TX2
03 Jun 2015
Re: Discount to NAV Slight caution about the NAV.This is the valuation put on its generally unlisted minority stakes by Marsh management(apart from R&Q),they cannot be sold easily like shares held by typical investment trusts,so some discount is reasonable although it had become very wide.Having said that the company has generally being able to sell on its investments on maturity at a good price,usually better than "book" price.So I agree good value and the recent modest price rise is welcome.I have held the shares a number of years.
RubberTiger
03 Jun 2015
Discount to NAV Always happy when you can buy pound coins for 69p! Not sure what will drive a narrowing of the discount although there is some mention of share repurchases which should help. Also like the business they invest in as insurance brokers are fairly resilient relative the general economy.
II Editor
02 Jun 2015
NEW ARTICLE: BP Marsh discount is too large "Brian Marsh is in confident mood. And so he should be. LSE:BPM:BP Marsh, the private equity firm he set up a quarter century ago, has achieved annual compound growth of 11.3%, and grown net asset value to 216p per share. The shares, however, ..."[link]
