Fund Manager Summary
The fund managers believe there is a significant upside potential for Touch Ventures Ltd, particularly given its current market valuation. In their opinion, the company’s financial position is strong, with approximately $60m in cash and an additional $50m in unlisted assets, which translates to a substantial discount of 47% to its net asset value. The recent interest from Gannet Capital, acquiring nearly 20% of the stock, has further fueled optimism among investors. Despite the recent increase in share price to approximately $0.08, the fund managers assert that the stock remains undervalued, presenting a compelling opportunity for growth.
Source: Trading View
Commentary From The Managers
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Cyan Investment Management
31 Jan 2024
$0.08
Summary
- Cyan Investment Management provides an update on their investment thesis for Touch Ventures Ltd.
- As of December 2023, Touch Ventures (TVL) held approximately $60m in cash (8.5cps).
- An additional $50m (6.9c) is invested in unlisted assets.
- The closing market price of TVL is 8.2c, representing a 47% discount to its net asset value.
- Recent interest in the stock has been attributed to the acquisition of nearly 20% of the stock by Sydney-based Gannet Capital.
- Despite the rise in price, Cyan Investment Management believes there is substantial upside potential in the current market valuation.
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Please note: The completeness, accuracy or current status of the investments referenced are not guaranteed.
Commentary From The Managers
Cyan Investment Management
31 Jan 2024
$0.08
- Cyan Investment Management provides an update on their investment thesis for Touch Ventures Ltd.
- As of December 2023, Touch Ventures (TVL) held approximately $60m in cash (8.5cps).
- An additional $50m (6.9c) is invested in unlisted assets.
- The closing market price of TVL is 8.2c, representing a 47% discount to its net asset value.
- Recent interest in the stock has been attributed to the acquisition of nearly 20% of the stock by Sydney-based Gannet Capital.
- Despite the rise in price, Cyan Investment Management believes there is substantial upside potential in the current market valuation.
Summary
Please note: The completeness, accuracy or current status of the investments referenced are not guaranteed.
ANALYST INSIGHT
Equity Research Analyst
"With a striking 47% discount to net asset value, Touch Ventures seems poised for a compelling turnaround, especially with Gannet Capital's significant stake. Investors might want to keep an eye on this one—upside potential appears to be ripe for the taking."
Last Updated: 31 Jan 2024
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Frequently Asked Questions
Who is investing in Touch Ventures Ltd (ASX:TVL)?
Fund managers including Cyan Investment Management have invested in Touch Ventures Ltd (ASX:TVL).
Why do fund managers invest in Touch Ventures Ltd?
Fund managers are investing in Touch Ventures Ltd due to its significant cash reserves of approximately $60 million and unlisted assets valued at $50 million, which indicate a strong net asset value. The current share price reflects a 47% discount to this valuation, suggesting substantial upside potential. Additionally, recent interest from Gannet Capital, which acquired nearly 20% of the stock, further highlights the investment's attractiveness.
What happened to Touch Ventures Ltd (ASX:TVL)?
There have been no recent updates from fund managers regarding Touch Ventures Ltd although fund managers including Cyan Investment Management have previously commented.