Blue Planet Plans Merger of All of its Trusts

INVESTMENT TRUST TIMES Dec 21 - Jan 3: Blue Planet plans merger of all 12 investment trusts to create a single trust of £32 million

Szymon Idzikowski 4 January, 2012 | 9:28AM
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Aseana Properties (ASPL): Given the widening discount between its share price and net asset value (NAV), the board has announced its intentions to buy back up to 500,000 shares. The fund currently trades at a discount of almost 60%, compared with a 12-month average of 45%.

Ashmore Global Opp GBP (AGOL): BlackRock has decreased its stake by 4% to almost 44% of the global emerging market equity fund.

Blue Planet Fin. Growth & Inc (BPFU): The boards of the Blue Planet Investment Trusts are evaluating the possible merger of all 12 investment trusts to create a single, larger trust. The merger would include 10 classes of Blue Planet Financials Growth & Income fund as well as Blue Planet International Financials (BLP) and Blue Planet Worldwide Financials (BPW). The creation of a single, larger trust would lower the expense ratio, potentially raise the profile of the combined company and increase liquidity in the shares. All 12 funds combined comprise £32 million.

Dolphin Capital Investors (DCI): Lloyds Banking Group (LLOY) has topped up its holding with a purchase of over 21 million shares of the direct property fund and now holds a stake of more than 12%. The fund currently trades at a hefty discount to its NAV in excess of 86%, compared with a 12-month average of 79.5%.

Dragon Ukrainian Properties (DUPD): The £190 million direct property fund has bought back another 8 million shares in its latest tender offer. The total amount of shares tendered was over-subscribed--some 24 million were offered for tender. The fund is still trading at a hefty discount that exceeds 77%.

GCP Infrastructure Invs (GCP): Cheviot Asset Management has bought its first tranche of more than 6 million shares representing 12.6% in the infrastructure fund.

The information contained within is for educational and informational purposes ONLY. It is not intended nor should it be considered an invitation or inducement to buy or sell a security or securities noted within nor should it be viewed as a communication intended to persuade or incite you to buy or sell security or securities noted within. Any commentary provided is the opinion of the author and should not be considered a personalised recommendation. The information contained within should not be a person's sole basis for making an investment decision. Please contact your financial professional before making an investment decision.

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Szymon Idzikowski

Szymon Idzikowski  is a closed-end fund analyst with Morningstar.

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