Fund Management

Last updated on 2017-10-02T03:06+0300.

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Fund Management said : "Central Securities is a distinctive closed-end investment company that has been on Fund Management’s radar for some time. After monitoring the company for a number of years, the recent volatility in the markets created an unusual opportunity to invest in Central at a large discount to the value of its unique portfolio of high-quality holdings. Although Central is not especially well-known within the closed-end fund universe, it is one of the oldest, originating in 1929, and our assessment is that it is assuredly one of the most successful. Central is led by long-time CEO and owner-operator Wilmot Kidd who has quietly amassed one of the most successful long-term track records in the investment industry. Over the last four decades, Central has compounded value on a pershare basis at north of 13%, dramatically outperforming the broader market. Unlike a majority of peers, Central has achieved this unusually long track record with an absence of leverage, which has created pitfalls for peers over the years. Kidd also shares our views regarding patience and a willingness to hold cash. Although he very seldom engages with the press, or in any form of promotion, Kidd did express in one of his rare interviews a belief that investment managers add most of their value in bear markets. Perhaps the most intriguing aspect of Central is its largest holding, a private insurer named Plymouth Rock, which itself has a remarkable track record of compounding value and is led by another skilled owner-operator, Jim Stone. Central’s investment in Plymouth is particularly noteworthy given our assessment indicates that Plymouth is a very high-quality insurance operator whose intrinsic value is well north of Central’s carrying value of the asset and a source of hidden value for Central shareholders" External link

news-yahoo Tuesday, June 16, 2020 8:32:00 PM EAT

Fund Management said : “We do not comment on market speculation” External link

business-standard Tuesday, April 16, 2019 11:42:00 PM EAT

Fund Management said : "The relatively low portfolio turnover (14% over the last financial year, the same figure as in the previous year) is often an indication that our investments performed satisfactorily. The list of our best performing stocks is an eclectic one reflecting our aim to find 'special' companies across a range of activities," External link

4-traders Monday, September 19, 2016 8:38:00 PM EAT



Key Titles and Phrases Count Lang Last Seen
major100.00%EN08/31/200631/08/2006
Names Lang Count
Fund ManagementEN75.42%
Fund ManagementFR11.33%
Fund ManagementPT5.72%
Fund ManagementES4.82%
FUND MANAGEMENTEN2.01%
Fund ManagementDE0.26%
Fund ManagementNL0.11%
Fund ManagementSA0.05%
FUND MANAGEMENTFR0.05%
FUND MANAGEMENTDE0.05%
FUND MANAGEMENTNL0.05%
Fund ManagementMT0.05%
Fund ManagementAR0.05%


 
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Fund Management

Last updated on 2017-10-02T03:06+0300.

About this image

sign

Quotes... Extracted quotes from

Fund Management said : "Central Securities is a distinctive closed-end investment company that has been on Fund Management’s radar for some time. After monitoring the company for a number of years, the recent volatility in the markets created an unusual opportunity to invest in Central at a large discount to the value of its unique portfolio of high-quality holdings. Although Central is not especially well-known within the closed-end fund universe, it is one of the oldest, originating in 1929, and our assessment is that it is assuredly one of the most successful. Central is led by long-time CEO and owner-operator Wilmot Kidd who has quietly amassed one of the most successful long-term track records in the investment industry. Over the last four decades, Central has compounded value on a pershare basis at north of 13%, dramatically outperforming the broader market. Unlike a majority of peers, Central has achieved this unusually long track record with an absence of leverage, which has created pitfalls for peers over the years. Kidd also shares our views regarding patience and a willingness to hold cash. Although he very seldom engages with the press, or in any form of promotion, Kidd did express in one of his rare interviews a belief that investment managers add most of their value in bear markets. Perhaps the most intriguing aspect of Central is its largest holding, a private insurer named Plymouth Rock, which itself has a remarkable track record of compounding value and is led by another skilled owner-operator, Jim Stone. Central’s investment in Plymouth is particularly noteworthy given our assessment indicates that Plymouth is a very high-quality insurance operator whose intrinsic value is well north of Central’s carrying value of the asset and a source of hidden value for Central shareholders" External link

news-yahoo Tuesday, June 16, 2020 8:32:00 PM EAT

Fund Management said : “We do not comment on market speculation” External link

business-standard Tuesday, April 16, 2019 11:42:00 PM EAT

Fund Management said : "The relatively low portfolio turnover (14% over the last financial year, the same figure as in the previous year) is often an indication that our investments performed satisfactorily. The list of our best performing stocks is an eclectic one reflecting our aim to find 'special' companies across a range of activities," External link

4-traders Monday, September 19, 2016 8:38:00 PM EAT



Key Titles and Phrases Count Lang Last Seen
major100.00%EN08/31/200631/08/2006
Names Lang Count
Fund ManagementEN75.42%
Fund ManagementFR11.33%
Fund ManagementPT5.72%
Fund ManagementES4.82%
FUND MANAGEMENTEN2.01%
Fund ManagementDE0.26%
Fund ManagementNL0.11%
Fund ManagementSA0.05%
FUND MANAGEMENTFR0.05%
FUND MANAGEMENTDE0.05%
FUND MANAGEMENTNL0.05%
Fund ManagementMT0.05%
Fund ManagementAR0.05%


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