British Empire Trust

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British Empire Securities and General Trust.png

British Empire Trust (LSEBTEM) is a large London-based British investment trust dedicated to investments in companies trading at a discount to Net Asset Value. Established in 1889, the company is a constituent of the FTSE 250 Index. The Chairman is Strone Macpherson.

The firm's recent history dates to 1985, when Asset Value Investors, an employee-owned management company was established to manage the firm, then valued at £6 million.[1] It issued a 4 for 1 rights issue, increasing capital to £30 million in 1985.

Its goal of acquiring firms under NAV has led it to attempt takeovers of other investment trusts trading at a discount. In 1986 British Empire acquired Ashdown Investment Trust for £66 million.[2] In 1989 it mounted a hostile takeover bid for Schroder Global Trust.[3] In 1995 it acquired the Selective Assets Trust (formerly the Edinburgh Assets Trust[4]) for £42 million.[2]

References

  1. ^ Asset Value Investors
  2. ^ a b British Empire Securities and General Trust: History Archived May 10, 2012, at the Wayback Machine.
  3. ^ Schroder and British Empire set to lock horns in bid battle Glasgow Herald, 4 February 1989
  4. ^ Edinburgh Assets Trust Oldest Scottish Companies

External links

  • Official website
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