Satisfactory, but Universal is largely unlikely to excite many punters
Its portfolio, apart from Portman Dentex, looks solid rather than spectacular
28 March 2024 - 08:00
Investment holding companies (holdcos) have for several years been a bit of a swear word among investors.
Discounts to the underlying net value of portfolios have generally widened markedly as investors question capital allocation decisions and weigh up the chances of an inspired value unlock...
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