My math shows HML is bloated with the non markets investments....

My math shows HML is bloated with the non markets investments. BHD is pure play markets. So the NTA will move harder in BHD (both ways too) than in HML. If the unlisted is what- 75% of HML?? then that one's NTA is in a holding patters until they in specie that out. No doubt they will then raise capital into the HML vehicle, and the SP will conveniently rise prior to that so they don't issue much at a discount. So yes, I think HML is an investment for share price bump right now, whereas BHD may be an investment for NTA acceleration from the get go

My 02c

DYOR