Each week, a professional investor tells us where he’d put his money. This week: Joe Bauernfreund, British Empire Trust.
Family-controlled investment-holding companies are firms where a single family has a board presence, or at least a large shareholding, and can exert a fair degree of influence on the business. They often have a diversified portfolio of listed and unlisted investments. Often, concerns about family control and perceived lack of transparency and geographic and sectoral diversification means that such companies are ignored by investors, which may mean shares trade at sizeable discounts to net asset [...]