Member Info for Bev88

At AGM an impressive speech by former boss Andrew Marshall almost caused a show of hands against the over generous remuneration package the executive Directors had been rewarded, set against pay freeze and redundancies suffered by workforce. (would have been overturned but for votes of Directors and associates). A good example of formerly family run outfifs becoming hard nosebut you discount workers loyalty at your peril.

This superbly managed international fund has a fine track record and was always at a premium to its asset value to reflect this. More recently it seems to have gone out of favour as it is now at a 7% discount. This looks likely to change as the market rediscovers the stock and it is certainly gathering momentum over the last few weeks-but much further to go.

This fund is a performer at a discount to its peers. An excellent way into the growth engine of the world at a bargain price- while it lasts

Daejan is a neglected stock. The management has adroitly steered the path to solid assets of £46 a share with a consistant ever increasing dividend, low borrowings and an increasing dollar return on well chosen US properties in Florida and New York with stable values. The market has missed this one but those of us long standing holders simply wait for the value to be realised by the market.

The one commodity the world is short of is power, especially as demand increses as we come out of recession. The UK is even worse since we have fudged our new build and we are due to lose 20% or so of existing plant within 5 years. Drax, a reliable producer of 7% of our power will be indispensible for at least 15 years and probably well beyond . Despite all this, and good operational performance the shareprice has almost halved in 2 years-enough said!

The possible approach to British Coal-probably very shrewd in view of high cost of importing coal with pound hammered-presents a great opportunity to get into this stock at a bargain price as market does usual knee jerk to any preditor-fill your boots.

Great set of interim numbers from this solid outfit. Profits are soaring, despite a reduction is sales, thanks to shrewd purchases in downturn, allied to tight borrowing .On track for net profit of well over £5 a share for full year with assets now likely to be increasing way above share price-yes Mountview is motoring again, a great play on recovering London residential property.

This is now a producer-ramping up volume and having secured an excellent aquisition. Unfortunately the market instinctively penaslises aquisitors, so despite record metal price and great prospects we get a chance to top up-which I have done-at a knock down price. Miss this temporary pricing aberration and kick yourself for missing a 'golden' opportunity in a week or two.

Mid -Wynd ,a little jewel in the Baillie -Gifford stable is beginning to motor. An excellently managed portfolio of first class international assets worth around £930p a share wasn't going to remain under £800p for long.

Following todays bullish statement from Grainger, and update at todays AGM, Mountview is on the march. The share price is only going one way fuelled by potential for asset and earnings upgrades as residential market awakens and following shrewd aquisition of properties in downturn.

I can't remember reading such nonesense as that posted by bark. The total expense ratio of Monks Trust is just 0.62%. Compare this with the 2-3% commonly found in Unit Trusts. If you bother to check you will find the managers and Board are of the highest calibre and integrity. Despite a difficult year they are upping the dividend by some 62.5% and over the last 5 years the share price is up by 36.7%. Ask investors with Madoff or Stanford if they wouldn't have sooner been in the secure Monks cloisters.

Now that it is clear that the covenants will be met and the vultures are to be disappointed , the way is clear for recovery in Candover's share price. A more appropriate discount to assets of over 900p should be attained as confidence is regained . For a start Board members will now be allowed to buy stock-watch this space!

You will have gathered that the issue is meeting banking covenants in a month or so,which Board says they will do, despite the F.T. claim to the contrary. Having met Board at the AGM recently, and hearing of their their experience and commitment ( one is former CEO of Consolidated Goldfields etc.)to sort things out, I find it inconceivable that they won't extract far more than the current value of the business out of the considerable assets under management, but it will take time. I

The F.T. report today , by forcing down the price on an erroneous rumour has thrown up an opportunity to tap into at least £9 worth of assets for under £2. Not surprisingly a number of astute investors have been filling their boots today. As always value will out for the patient.

This well managed Trust has an excellent track record and invests in solid performing stocks with an unbroken record of dividend growth for around 40 years. Because of thin trading it has slipped to a discount of over 20% to asset value-not for long I would suggest.

Many private equity stocks are all of a sudden trading at once in a lifetime levels. Presumably forced sellers are involved, together with the assumption that the end of the financial world is nigh, In the case of Candover, management,with a superb track record over many years, were buying at well over twice current levels only a few months ago, since when little has apparently changed . The share price is at an unprecedented 60% discount to asset value with an easily afforded dividend of over 7%. Fill your boots with a spread of these while the going is good. Dunedin and Graphite ditto.

This is a classic case of the market throwing out the baby with the bathwater. The current management have made all the right moves over several years, moving away from the likes of the motor industry and lower value areas into the likes of high -tec aerospace and insulation products ,usually sourced in low cost areas with a push on operational efficiencies. Despite a minor rally, at a p/e of around 5, yielding a well covered 6% , no wonder they are interesting predators. This is a quality stock at a silly price.

True to form the Daejan management has used its strong financial position to pick up distressed assets at a considerable discount. This time it's Nursing Homes from Southern Cross yielding over 8%. In effect a guaranteed 100% occupation with little management imput and no doubt development opportunities when the time is right. These guys rarely miss a trick and have delivered in all cycles-sell at your peril!

Dunedin Enterprise, a fund astutely managed for 20 years by Ross Marshall, yesterday reported assets per share at 539p. The assets are roughly split equally between cash, a group of 14 growth companies in the UK ,( actively managed and controlled and all but two performing well , all with low gearing and not exposed to consumer markets), and the rest invested in European private equity funds ,which have high growth potential. You get all this for the current market price of around 380p, around 30% discount to cracking growing assets. Only a matter of time before they are re-rated or taken out.

For some reason the market has missed the potential of this company despite solid results and increased dividend. This presents a great opportunity to get aboard a company in a superb niche with tremendous mineral resources, a capable, honest management who have bought in recently at much higher prices. If the market doesn't wake up predators almost certainly will.