Brompton update UNIT NAV to NOV 2 @ $15.88Big move up yesterday, but obviously the preferred offering did NOT increase the UNIT NAV for reasons explained by Navgod. After the recent offering the LBS cash position is likely much higher , so last update had the % of cash at 0. They have to pay distributions so the CASH position will have increased a lot, mostly due to the offering.
It was timely tho as the banks /lifecos had a big move up after OCT 31 when the offering closed. Some of that buying for sure came from LBS investing some of that 94 million into the holdings.