Member Info for Oldnbald

Now you need to make your own mind up - see the Master Investor article and then read this one https://citywire.com/investment-trust-insider/news/investec-buy-bh-macro-ahead-of-choppy-waters/a2434214

Investec: ‘Buy’ BH Macro ahead of ‘choppy waters’

So buy it while we sell it................ No conflict there.......

I have emailed their press division and asked when they are doing the next Investor presentation, they need to put their heads above the parapet.

Also you may be interested in this comment:

"Another trust operating in the same sector is the £1.6bn BH Macro (LON: BHMG), which has a strong long-term record as a diversifier. Recently however it has really struggled and slipped to a 12% discount, although the Board has rather belatedly started to buy back some of the shares.

The problem is the 28% stake owned by Investec/Rathbones that has turned a strong supporter into an ongoing seller. Numis believe that it may require a corporate action solution to reduce this position that is seen as an overhang by the market."

https://masterinvestor.co.uk/funds-and-investment-trusts/specialist-trust-recommendations-for-2024/

I'd love to say i know the answer Mice but i'm in the same boat. This equity is 'opaque' to say the least. I really want out but will give it one last chance of researching it until i pull the trigger. i'll share what i find

Thanks! Here is the link for the Arix board:

https://www.lse.co.uk/ShareTrades.html?shareprice=ARIX&share=Arix-Bioscience

Great work, thank you! Please continue to share

Well... I was aware of the merger but I wasn't aware of the nature of it.... shall we say. Thank you.

The obvious answer is to sack off RTW and buy Arix, as the indicative RTW share price use is way above current market - so even with a dip on Arix shareholders exiting i'd get more shares in RTW for my buck

But.. I have seen multiple 'mergers' fall by the wayside and I don't like the way this is being done. Not that I'm a commie mind you - if I thought 'yup it's gonna happen' i'd take the money with a shrug.

So whilst being sorry for arix shareholders who are being shafted, I am now in a quandry. The obvious answer is to sell everything as exiting arix shareholders will probably drive RTW price down if it happens. But the odds of it not happening are increased now, if the Times is talking about it the regulators must do something. it's not like the usual AIM fraudulent lifestyle director stuff that nobody gives a damn about. And if it gets messy RTW price will suffer, as will ARIX

I see the dates are that this will complete in Q1 2024 and be put to vote etc in same timeframe. I add that 26.1% are definite 'yes' which means that they just have to mobilise 24% to vote AYE and it's a done deal. I need to sleep on this one. pls do share anything you have and I'll do the same

I've dipped my toe with a 5-8 year timeframe. the BIOTECH bear has been in play a long time now and I hope this represents value.

The discount to NAV would suggest that on the surface but.. There are so many massive discounts in close ended Inv' Trusts at the moment that it's hard to see. Given the size of the discount the market seems to be pricing in the absolute worse case scenario. So, while I am hurting, it's only a loss if I sell.... and i'm holding on.

I am by no means an expert so DYOR etc etc but the underlying assets seem solid enough, they are getting out of retail and downsizing office it seems . My timeline for this investment is 8 years now so I think the assets will hold their value. As I say I am taking the Divi;s and buying JARA with it to help me average down without risking any more capital and...

oh yeah, I crossed my fingers ;-)

i got a response from jara, just sharing as may be useful: i was passed your email regarding jara and the webcasts by a colleague.

these webcasts are directed at the professional investor audience only on the website. as a self-directed investor you should enter the website through this link and select ‘personal investor’ when prompted.

i appreciate this will be a frustrating response. we are taking part in two live online presentations in the coming of weeks. these are deliberately aimed at giving personal investors access to our investment trusts.

firstly, with mello on tuesday 14 november - https://melloevents.com/mello-investment-trusts-and-funds-tuesday-14th-november-2023/

secondly, with capital access group on wednesday 22 november - https://*********************/events/capital-access-group/jpmorgan-global-core-real-assets-limited-webinar/1907

both of these events should also have a recording available by the hosts.

we hosted an in person event at our offices on 29 sept which had the portfolio manager present on stage and meet with investors afterwards – i mention this because we are providing more opportunities to engage with our investment trusts, the best way to hear about future opportunities if this is of interest is to subscribe to the communication options for the trusts that are relevant to you – you can do this here

Try this: Transportation assets webcast : https://event.webcasts.com/viewer/event.jsp?ei=1593150&tp_key=0707b4dd1d

I've sent JPM a snotogram saying why oh why have you not put your QUarterly update calls in the website? i mean - basics!

If anyone manages to find the first webcast - pls share

I agree that information is hard to find. I did find half of a useful webcast on ADVFN, but have no idea how to access the other half! This deals with the non Asian side of the business: https://event.webcasts.com/starthere.jsp?ei=1618633&tp_key=e78d89f2e2

Like so many of you - I am sittinmg on a whopping paper loss here. The discount to NAV seems to be massive and unless I'm missing something, it seems to be assuming the collapse of western society or something.

I'm betting that won't happen and once the interest rates start to go down (maybe 6 months?) then the discount will correct.

Until then - I'm getting paid a nice Divi which I am buying more JARA with so - I'm being paid to be patient :-)