Baker Steel Resources Trust Ltd Edison review on Baker Steel Resources Trust
August 10 2020 - 5:16AM
RNS Non-Regulatory
TIDMBSRT
Baker Steel Resources Trust Ltd
10 August 2020
London, UK, 10 August 2020
Edison issues review on Baker Steel Resources Trust (BSRT)
Baker Steel Resources Trust (BSRT) carried out an additional
review of its unlisted holdings as at end-March 2020 to better
reflect the impact of the COVID-19 crisis on its portfolio
valuation. By the regular interim review at end-June 2020, however,
the pandemic-related NAV declines had been fully offset.
Consequently, the year to date NAV total return (as at 31 July)
sits at 2.2%, which already reflects the subsequent equity markets
rebound, which started in April. Moreover, we note that with
several NAV triggers expected to materialise in the current year
(described in detail below), BSRT seems well-placed to improve its
NAV TR in the next few months.
In H120, BSRT reported a 4.5% NAV total return (reflecting the
last full portfolio revaluation) against a 5.8% increase posted by
the EMIX Global Mining Index. While outperforming its peers in
recent years, the fund trades at a 13.6% discount to its last
reported NAV, which is slightly above the peer group median of
11.6%.
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