Does anyone have a feel for the current net asset position?
Just looking at the price action, it's hard to believe that $4 will hold, but if they still have >AUD125m of cash and investments + no debt, that's a reasonable base to rebuild from (although I note people's comments around the need for confidence in a fund manager and that this has been tarnished, which will make the rebuild hard). Not one I've looked at (hence the question) and not one I would look at until I know the extent to which BLA's earnings is comprised of fees into retail funds (which don't look sustainable); but I'm interested in where the net asset backing lies.
From their last report:
▪ $153.6m of net tangible assets ($2.23 per share), including $44.6m of net cash (i.e. no net debt) ▪ $68.3m of financial assets at fair value reflect co-investments made in 26 separate funds and fund related entities, primarily as alignment capital alongside institutional investors ▪ $12.8m of investments reflects equity accounted value of joint ventures (Cove, Student Quarters) ▪ $13.9m increase in non-current trade and other receivables driven by strong investment performance coupled with significantly larger scale, leading to a total of $37.1m of accrued performance fees (across 19 separate assets). Noncurrent trade and other receivables also includes: ▪ $19.4m of investments structured as loans into Blue Sky managed funds and fund related entities (FY17: $15.8m); ▪ $7.6m of management fees due to be paid in >12 months; and ▪ $2.5m of employee loans, provided as matching loans
- Forums
- ASX - By Stock
- Net asset position
Does anyone have a feel for the current net asset position? Just...
-
-
- There are more pages in this discussion • 21 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add BLA (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
LU7
LITHIUM UNIVERSE LIMITED
Alex Hanly, CEO
Alex Hanly
CEO
SPONSORED BY The Market Online