TITLE

TRADER TALK

PUB. DATE
May 2012
SOURCE
Evening Standard;5/25/2012, p67
SOURCE TYPE
Newspaper
DOC. TYPE
Article
ABSTRACT
?GLOBAL equity star John Pennink, manager of the �717 million British Empire trust, has ramped up his investment in private equity investment company LMS Capital as it winds up and returns cash. Pennink upped his investment in the business from 8.78 million shares to 13.91 million or 5.1% worth �8.2 million at a share price of 59p. LMS Capital is trading at a 32.5% discount to its estimated net asset value of around �252 million or 90p per share. The fund manages a mixed portfolio of listed and unlisted small and medium cap shares, typically consumer, energy and business service companies. The fund agreed to begin a managed wind-up and to return investor's capital at the end of last year, and has a target to return the majority of funds at the ends of this year and the next. Over 10 years Pennink has returned almost twice the average of his peers, at 143%.
ACCESSION #
76113270

 

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