DISCLAIMER

The website is directed only at Professional Clients in the UK. The website is issued by Asset Value Investors Limited (“AVI”), in respect of British Empire Trust plc (“British Empire”). AVI is authorised and regulated by the UK Financial Conduct Authority (“FCA”). British Empire is a public company listed and traded on the London Stock Exchange.

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The price of the Shares will be determined by supply and demand in the market as well as NAV per Share. The market price of the Shares is therefore likely to fluctuate and may represent either a premium or discount to NAV per Share.

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Key facts

  • Total assets £988 million*
  • Launch date 1 July 1889
  • Average Annual Return 12.0%**
  • Annual charge 0.87%***
ABOUT THE TRUST * As at 31 March 2018
** Source: Morningstar, performance period 30 June 1985 to 31 March 2018, TR net of fees, GBP
*** As at 30 September 2017, includes: management fee 0.70%, marketing and administration costs

Platforms

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Latest data

British Empire Share Price
SHARE PRICE: 697.00
NAV: 787.45
Premium(+)
Discount(-)
-11.49
Dividend Yield: 1.72
As of 19/04/18 , Currency: GBX

Videos & Podcasts

Investment Manager’s Review
Chairman's Statement
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Current Portfolio News

  • 20 Dec, 2017

    Aberdeen Private Equity (APEF)

    Aberdeen Private Equity (APEF)’s share price climbed +16% upon the announcement that an agreement had… Read More

  • 10 Nov, 2017

    Pasona Group stock story

    Hong Kong based activist investor turns its focus on Pasona Group. Pasona Group is a… Read More

  • 12 Oct, 2017

    Tetragon

    There were once good reasons for this trust’s 34pc discount – but not anymore… Read More

  • 12 Jun, 2017

    Better Capital stock story

    Better Capital PCC announced completion of the disposal of Gardner Aerospace Holdings for an enterprise… Read More

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Price Performance

December 2007 to December 2017

Managers Comment

More comments March

Fears over a Trump-provoked trade war rocked markets in March. BTEM’s portfolio discount widened further (from 25.4% to 27.6%) and contributed to a decline in NAV of -4.1% with local currency losses exacerbated by continued strength in the Pound. The few positive contributions came from Digital Garage, Adler Real Estate, GP Investments, and Riverstone Energy, […]

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News and Endorsements

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Case Studies

  • Tokyo Broadcasting System (TBS)

    The fund first invested in TBS in January 2017. Our analysis concluded that TBS’s operating business is dwarfed by their securities portfolio and real estate….Read More

  • Japanese Special Situations

    Japan has a number of characteristics that make it a compelling investment opportunity. From a valuation perspective, it is the one major global stock market….Read More

  • Vietnam Phoenix Fund

    Our position in Vietnam Phoenix Fund is now in the final innings of what has been a very successful investment (in GBP +94% total return, +30% IRR)….Read More

  • Kinnevik

    Stockholm-based Kinnevik is a good example of our strategy which seeks to invest in companies which are trading at a discount to net asset value….Read More

About British Empire

British Empire Trust p.l.c. (British Empire) is a closed-end investment trust with shares listed on the London Stock Exchange and part of the FTSE 250 index. The investment objective is to achieve capital growth through a focused portfolio of investments, particularly in companies whose share prices stand at a discount to estimated underlying net asset value.

British Empire is managed by Asset Value Investors Limited (AVI). Working closely with British Empire Trust, AVI specialise in seeking positive results from opportunities that others fail to spot.

British Empire Trust 125 Years BookBritish Empire Trust 125 Years Book
(hard copies available upon request to UK addresses only)

OUR HISTORY

Morningstar Analyst Rating



as at 9 December 2015

Morningstar® Fund Report™ Morningstar® Analyst
Research Report™

What is an Investment Trust?

An investment trust is simply a public limited company that issues shares in exchange for cash from investors. These cash funds are then pooled and reinvested in assets such as other stock market shares, bonds or property.

It’s the role of asset management companies such as AVI to plan and oversee investments on behalf of investment trusts and to ensure they deliver as profitable a return as possible for trust shareholders.

What's The Advantage Of Investment Trusts?

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