Brunner Investment Trust
The Brunner Investment Trust PLC is an open-ended equity mutual fund launched and managed by Allianz Global Investors GmbH, UK Branch. The fund invests in public equity markets across the globe. It seeks to invest in stocks of companies operating across diversified sectors. The fund primarily invests in growth stocks of companies. It focuses on factors such as business models, products and/or ser… Read more
Brunner Investment Trust (BUT) - Net Assets
Latest net assets as of May 2024: GBX591.80 Million GBX
Based on the latest financial reports, Brunner Investment Trust (BUT) has net assets worth GBX591.80 Million GBX as of May 2024.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (GBX616.90 Million) and total liabilities (GBX25.11 Million). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | GBX591.80 Million |
| % of Total Assets | 95.93% |
| Annual Growth Rate | 2.12% |
| 5-Year Change | 9816.04% |
| 10-Year Change | 10004.16% |
| Growth Volatility | 1866.03 |
Brunner Investment Trust - Net Assets Trend (2000–2023)
This chart illustrates how Brunner Investment Trust's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Brunner Investment Trust (2000–2023)
The table below shows the annual net assets of Brunner Investment Trust from 2000 to 2023.
| Year | Net Assets | Change |
|---|---|---|
| 2023-11-30 | GBX528.21 Million | +5.13% |
| 2022-11-30 | GBX502.45 Million | +9332.50% |
| 2021-11-30 | GBX5.33 Million | 0.00% |
| 2020-11-30 | GBX5.33 Million | 0.00% |
| 2019-11-30 | GBX5.33 Million | 0.00% |
| 2018-11-30 | GBX5.33 Million | 0.00% |
| 2017-11-30 | GBX5.33 Million | +0.78% |
| 2016-11-30 | GBX5.29 Million | +0.74% |
| 2015-11-30 | GBX5.25 Million | +0.37% |
| 2014-11-30 | GBX5.23 Million | 0.00% |
| 2013-11-30 | GBX5.23 Million | +0.74% |
| 2012-11-30 | GBX5.19 Million | -97.46% |
| 2011-11-30 | GBX204.58 Million | -6.05% |
| 2010-11-30 | GBX217.75 Million | +5.45% |
| 2009-11-30 | GBX206.49 Million | +22.88% |
| 2008-11-30 | GBX168.04 Million | -38.18% |
| 2007-11-30 | GBX271.82 Million | +12.74% |
| 2006-11-30 | GBX241.11 Million | +6.83% |
| 2005-11-30 | GBX225.70 Million | +18.00% |
| 2004-11-30 | GBX191.27 Million | +0.85% |
| 2003-11-30 | GBX189.66 Million | +0.15% |
| 2002-11-30 | GBX189.38 Million | -19.90% |
| 2002-05-31 | GBX236.44 Million | -6.93% |
| 2001-11-30 | GBX254.06 Million | -22.09% |
| 2000-11-30 | GBX326.10 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Brunner Investment Trust's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 206.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (November 2023)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | GBX17.58 Million | 3.33% |
| Common Stock | GBX10.67 Million | 2.02% |
| Other Comprehensive Income | GBX5.33 Million | 1.01% |
| Other Components | GBX494.63 Million | 93.64% |
| Total Equity | GBX528.21 Million | 100.00% |
Brunner Investment Trust Competitors by Market Cap
The table below lists competitors of Brunner Investment Trust ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Faran Sugar Mills Ltd
KAR:FRSM
|
$1.57K |
|
Blue Hat Interactive Entertainment
NASDAQ:BHAT
|
$1.57K |
|
KDAGF
OTCGREY:KDAGF
|
$1.57K |
|
Kohinoor Textile Mills Ltd
KAR:KTML
|
$1.57K |
|
BurgerFi International, Inc.
NASDAQ:BFICQ
|
$1.57K |
|
ENGENCO
BE:CDF
|
$1.57K |
|
Autris
PINK:AUTR
|
$1.57K |
|
Crescent Fibres Limited
KAR:CFL
|
$1.56K |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Brunner Investment Trust's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2022 to 2023, total equity changed from 502,452,284 to 528,209,758, a change of 25,757,474 (5.1%).
- Net income of 40,630,830 contributed positively to equity growth.
- Dividend payments of 9,542,977 reduced retained earnings.
- Other factors decreased equity by 5,330,379.
Equity Change Factors (2022 to 2023)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | GBX40.63 Million | +7.69% |
| Dividends Paid | GBX9.54 Million | -1.81% |
| Other Changes | GBX-5.33 Million | -1.01% |
| Total Change | GBX- | 5.13% |
Book Value vs Market Value Analysis
This analysis compares Brunner Investment Trust's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 115.10x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 439.63x to 115.10x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2002-11-30 | GBX3.24 | GBX1424.00 | x |
| 2003-11-30 | GBX3.44 | GBX1424.00 | x |
| 2004-11-30 | GBX3.65 | GBX1424.00 | x |
| 2005-11-30 | GBX4.40 | GBX1424.00 | x |
| 2006-11-30 | GBX4.90 | GBX1424.00 | x |
| 2007-11-30 | GBX5.66 | GBX1424.00 | x |
| 2008-11-30 | GBX3.56 | GBX1424.00 | x |
| 2009-11-30 | GBX4.42 | GBX1424.00 | x |
| 2010-11-30 | GBX4.72 | GBX1424.00 | x |
| 2011-11-30 | GBX4.57 | GBX1424.00 | x |
| 2012-11-30 | GBX0.12 | GBX1424.00 | x |
| 2013-11-30 | GBX0.12 | GBX1424.00 | x |
| 2014-11-30 | GBX0.12 | GBX1424.00 | x |
| 2015-11-30 | GBX0.12 | GBX1424.00 | x |
| 2016-11-30 | GBX0.12 | GBX1424.00 | x |
| 2017-11-30 | GBX0.12 | GBX1424.00 | x |
| 2018-11-30 | GBX0.12 | GBX1424.00 | x |
| 2019-11-30 | GBX0.12 | GBX1424.00 | x |
| 2020-11-30 | GBX0.12 | GBX1424.00 | x |
| 2021-11-30 | GBX0.12 | GBX1424.00 | x |
| 2022-11-30 | GBX11.77 | GBX1424.00 | x |
| 2023-11-30 | GBX12.37 | GBX1424.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Brunner Investment Trust utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 7.69%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 87.05%
- • Asset Turnover: 0.08x
- • Equity Multiplier: 1.07x
- Recent ROE (7.69%) is below the historical average (321.61%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2002 | -28.85% | 0.00% | -0.20x | 1.31x | GBX-73.58 Million |
| 2003 | 5.50% | 63.36% | 0.07x | 1.27x | GBX-8.53 Million |
| 2004 | 6.94% | 67.76% | 0.08x | 1.27x | GBX-5.85 Million |
| 2005 | 19.69% | 87.20% | 0.18x | 1.23x | GBX21.87 Million |
| 2006 | 10.54% | 78.75% | 0.11x | 1.22x | GBX1.30 Million |
| 2007 | 15.10% | 86.17% | 2.80x | 0.06x | GBX13.87 Million |
| 2008 | -57.56% | 0.00% | -0.41x | 1.31x | GBX-113.54 Million |
| 2009 | 21.90% | 89.91% | 0.19x | 1.25x | GBX24.57 Million |
| 2010 | 9.11% | 79.52% | 0.09x | 1.23x | GBX-1.93 Million |
| 2011 | 0.45% | 12.72% | 0.03x | 1.25x | GBX-19.54 Million |
| 2012 | 577.66% | 97.79% | 0.55x | 10.65x | GBX29.46 Million |
| 2013 | 917.47% | 98.37% | 0.89x | 10.53x | GBX47.44 Million |
| 2014 | 313.72% | 94.68% | 0.32x | 10.49x | GBX15.88 Million |
| 2015 | 43.78% | 72.20% | 0.06x | 10.40x | GBX1.77 Million |
| 2016 | 989.07% | 97.84% | 0.98x | 10.28x | GBX51.75 Million |
| 2017 | 1081.00% | 97.86% | 1.64x | 6.74x | GBX57.05 Million |
| 2018 | -4.26% | -20.93% | 0.04x | 5.04x | GBX-759.51K |
| 2019 | 972.01% | 97.33% | 1.43x | 6.97x | GBX51.24 Million |
| 2020 | 504.06% | 94.53% | 0.93x | 5.71x | GBX26.32 Million |
| 2021 | 1669.71% | 97.95% | 2.12x | 8.03x | GBX88.41 Million |
| 2022 | 0.72% | 64.91% | 0.01x | 1.06x | GBX-46.62 Million |
| 2023 | 7.69% | 87.05% | 0.08x | 1.07x | GBX-12.19 Million |
Industry Comparison
This section compares Brunner Investment Trust's net assets metrics with peer companies in the Asset Management industry.
Industry Context
- Industry: Asset Management
- Average net assets among peers: $395,694,700
- Average return on equity (ROE) among peers: -81.73%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Brunner Investment Trust (BUT) | GBX591.80 Million | -28.85% | 0.04x | $1.57K |
| 3I Infrastructure PLC (3IN) | $1.09 Billion | 8.57% | 0.18x | $396.99K |
| 450 PLC (450) | $1.30 Million | -791.13% | 5.03x | $1.71K |
| abrdn Asian Income Fund Limited (AAIF) | $431.48 Million | 11.10% | 0.09x | $315.37 |
| Abrdn Asia Focus PLC (AAS) | $464.40 Million | -2.37% | 0.15x | $434.78 |
| Albion Technology & General VCT PLC (AATG) | $34.46 Million | 4.41% | 0.01x | $78.71 |
| Aberdeen Diversified Income and Growth Trust PLC (ADIG) | $492.42 Million | 0.00% | 0.32x | $16.61 |
| Aquila Energy Efficiency Trust PLC (AEET) | $97.38 Million | -0.64% | 0.00x | $2.38K |
| Aquila European Renewables Income PLC (AERI) | $320.23 Million | -9.29% | 0.00x | $2.45K |
| Artemis UK Future Leaders plc (AFL) | $84.35 Million | -40.52% | 0.02x | $401.26 |
| AVI Global Trust PLC (AGT) | $938.94 Million | 2.59% | 0.12x | $2.83 Million |