I agree completely. The UK funds think in much longer terms than Australian funds (IMO and a fairly general statement).
For example on the register of PLV there are many UK funds, held in a few diferent nominee accounts. These guys are in for the long term. The only time they sell any is due to redemptions across their entire portfolio.... their rules give them no choice.
If ANZ Nominees is holding for UK funds I will be very pleased, these are the guys you want to hold CVI, and the guys you want to be accumulating....
The funds in the UK are also a lot more savvy when it comes to Africa. They have invested there for many years, they understand the risk profiles and they understand that things take a little longer in Africa.
One of the most important things about UK fund managers IMO (having met many myself when I worked in Africa) is that they also understand how relationships work in Africa.
Cheers, Tony.
CVI Price at posting:
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