Blue Planet Investment Trust letter – don’t worry


If you have received a letter from Blue Planet Investment Trust today, don't worry
A number of clients have received an astonishing letter from Blue Planet Investment Trust today. I wanted to assure clients that they have to do nothing as a consequence of its receipt but I shall be sending a full letter to everyone next week.
There is absolutely no ‘urgency’ to do anything and all your and our rights are preserved and assured.

The Board of the Investment Trust and its advisers, local solicitors Samuels, have been most ill-advised to send this letter, as I shall explain fully next week. This is likely to backfire remarkably on them.  
For over two years now we have been very concerned at what the Trust’s management has been doing (or not doing well at all). We have been attempting to engage with it but to no avail. The Company is ignoring our solicitor’s questions and this letter is an attempt to cause us as much disruption and distraction from that endeavour as well as attempts to discredit our achievements and capabilities.  
You may recall that I have mentioned the atrocious management by Mr Ken Murray and his Blue Planet team on more than one occasion. I have been in touch with the FCA on numerous occasions too.

However, what is most important to note is that this holding represents a mere 0.5% of our total client assets, yes, for every £1,000 of money we manage, it represents £50, so a very small sum. Likewise, despite its absolutely awful results thorough the manager’s negligence and ineptitude where they have demonstrated no capabilities whatsoever since the Pandemic lows, its poor performance has been more than compensated by the exceptional overall performance our clients’ other assets have achieved, even having to make up for this atrocious behaviour.
As we have noted before, clients with us since then have enjoyed the best performance period the Firm has enjoyed since inception in 1985 and our total client assets are at or near their highest ever levels at just under £250million in testament to this.

Indeed, more recently even if there are still overall limited value declines, out-performance has continued as we have avoided the US Tech meltdown which has afflicted mainstream global indices (the Nasdaq is down 25% since November) and not only that, have held useful exposure to sectors such as energy and food commodities, which have rewarded as mainstream markets have been impacted by Russia’s war in Ukraine, inflation and the energy crisis.

I shall be in touch with clients fully next week. If you have received a letter, I am very sorry that you have been concerned and inconvenienced but please do nothing for the moment and do not worry.  

My best wishes

Philip J Milton DipFS CFPCM Chartered MCSI FPFS FCIB
Chartered Wealth Manager
Fellow Of The Personal Finance Society, Fellow Of The Chartered Institute Of Bankers