The unlisted stuff has been very generous to BHD.
I hope the exclusive trading agreement doesn't have an impact on the goldmine BHD has with Genesis as disclosed in the half yearlies.
BHD has a trading facilitation agreement with Genesis whereby BHD earns 95% of the trading profits earned by the Investment manager using Genesis funding and trading platform. In the 2 and a half months to 31 December $1.1m or 25% of BHD's reported profit for the six months came from this agreement.
As BHD doesn't appear to fund Genesis this is just cream for no risk as any " net " trading losses borne by Genesis.
I do note two things though.
It was a receivable at 31 December 2017.
And the month before $2.2m was lent to JBFG and secured over the shares in Genesis. ????
BHD Price at posting:
76.0¢ Sentiment: None Disclosure: Not Held
