Market Wrap - Stock Pick — Reinet
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Steven Schultz from Momentum chose Reinet as his stock pick of the day
"My stock pick this evening is Reinet, it has been a serial under performer over
the last couple of years and for those that don't follow the counter, it's effectively an investment holding company that gives exposure to British American Tobacco, UK insurance China A listed shares and some Singaporean startups in a tech space. I know tobacco's is certainly not the sexiest industry to be in at the moment, but it has whittled down to about just over half of the current holdings in the portfolio. It's got a gem of a business in pension insurance
corporation, which is a specialist UK defined benefits insurer which is performing exceptionally well. It currently has a net asset value of four hundred and ten per share trades at
265 so 35 to 40 percent discount and I think that margins say is going to be very useful if the market comes under pressure one."
"My stock pick this evening is Reinet, it has been a serial under performer over
the last couple of years and for those that don't follow the counter, it's effectively an investment holding company that gives exposure to British American Tobacco, UK insurance China A listed shares and some Singaporean startups in a tech space. I know tobacco's is certainly not the sexiest industry to be in at the moment, but it has whittled down to about just over half of the current holdings in the portfolio. It's got a gem of a business in pension insurance
corporation, which is a specialist UK defined benefits insurer which is performing exceptionally well. It currently has a net asset value of four hundred and ten per share trades at
265 so 35 to 40 percent discount and I think that margins say is going to be very useful if the market comes under pressure one."
