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Baker Street increases stake in Pyne Gould Corp

Tuesday 2nd August 2011 1 Comment

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United States-based fund manager Baker Street Capital is continuing to build its stake in Pyne Gould Corp (PGC).

The Los Angeles-based fund today disclosed an 11.77 percent stake in PGC, up from 10.75 percent in the last disclosure on July 22. The fund purchased 187,769 shares at 35 cents a share on market on July 29. The stake has risen from just over 5 percent in a matter of weeks.

New Zealand businessman George Kerr controls 14.97 percent of the company through Pyne Family Holdings, according to the 2010 annual report.

Baker Street is a value-focused fund modelled after the partnerships managed by Warren Buffett, according to its website. It has taken an activist approach to some of its other investments.

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Comments from our readers

On 2 August 2011 at 5:37 pm Allan said:
Hmmmmm. Baker Street has a really good write up. Clever folk. What do they know that we dont?
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