Investment trust insider on All Active Asset Capital – James Carthew: Why All Active Asset Capital is generating a mighty social media buzz
The investment companies sector includes many fringe players that I generally don’t pay much attention to. For example, when I compile lists of best-performing investment companies, I routinely ignore funds with market caps of less than £15m.
One stock that has long been excluded is All Active Asset Capital (AAAC) – an investment company domiciled in the British Virgin Islands but listed in London. However, this has sprung into life recently, soaring in value with the share price at 51p valuing the company at £516m and apparently trading on over a 3,500% premium – what is going on?
Well, it is complicated, but some investors think AAAC will soon own a sizeable chunk of the next big social media platform.
Three years ago, the fund was named All Asia Asset Capital. It had a 7% stake in Myanmar Allure Group, a hotel and gaming company in Myanmar valued at less than £1m, about 200k in cash and net assets of £1.1m.
In 2019 it acquired a new board, its new name and had started raising money to broaden its portfolio into Europe. In 2020, it bought a stake and some warrants over shares in Asimilar Group.
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