B&B European Infrastructure Fund (BBEIF) is partially owned and...

B&B European Infrastructure Fund (BBEIF) is partially owned and fully managed by Babcock & Brown.

Not BCM (B&B Capital), not BBI, not an independent entity.

If you cannot understand why BNB is able to continue its investment in infrastructure - given the clearly communicated new strategic direction - it is clear you need to spend some more time with the 30June Interim accounts.

If it is surprising to you that BNB is able to invest, at all - you need to spend some time with the 30June Interim accounts.

If you are surprised ... you need to check your assumptions. Perhaps negative equity, high debt is not as terminal as you may think. Dig deeper into the capital structure. Understand equity accounting. Understand the wider capital resources of BNB contributed through partners.

Spend some time with the 30June Interim accounts ...