In this note, we examine three aspects of OCI’s NAV: firstly, why investors can have confidence that it is conservatively calculated, evidenced by i) realisations above carry cost, ii) no incentive to inflate valuations, and iii) a tech-enabled business mix; second, NAV has been robust through COVID-19, a feature we expect to continue, driven by digitally delivering companies, largely defensive sectors and OCI’s large cash balances; third, upside from incorporating the market’s “vaccine” recover ....
03 Dec 2020
NAV: conservative, robust and with growth upside
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NAV: conservative, robust and with growth upside
Oakley Capital Investments Ltd Registered (OCI:LON) | 476 9.5 0.4% | Mkt Cap: 839.8m
- Published:
03 Dec 2020 -
Author:
Mark Thomas -
Pages:
15
In this note, we examine three aspects of OCI’s NAV: firstly, why investors can have confidence that it is conservatively calculated, evidenced by i) realisations above carry cost, ii) no incentive to inflate valuations, and iii) a tech-enabled business mix; second, NAV has been robust through COVID-19, a feature we expect to continue, driven by digitally delivering companies, largely defensive sectors and OCI’s large cash balances; third, upside from incorporating the market’s “vaccine” recover ....