RJT rubicon japan trust

state of play:- NTA (Dec) 85c- gearing (Dec) 61.3%- BJT own 5%-...

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    state of play:
    - NTA (Dec) 85c
    - gearing (Dec) 61.3%
    - BJT own 5%
    - market cap @10c is $44m
    - additonal $20m in coffers if Dec'07 div withheld.

    Jap property market healthy. I am looking to increase my long position. Suspect Rubicon will be replaced as manager soon (Babcock, Gailieo, Challenger). A risky trade (eg may about to be suspended) but the big buffer to realisible NTA makes profit likely.

    thoughts?
 
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