Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Bill Gates pours millions more into BBA Aviation

Bill Gates pours millions more into BBA Aviation

Bill Gates has ramped up his holding in flight services company BBA Aviation as the business continues an aggressive schedule of share buybacks.

Gates (pictured) upped his holdings in the company from 40.23 million shares to 46.11 million or 9.8% worth £147.58 million at a share price of 318p, up 44% over the last three years.

The holding is split between Gates’ charitable Bill & Melinda Gates Foundation and Cascade Investments, the business he established to manage his fortune, estimated at around $61 billion.

Day to day management of the company is handled by renowned value investor Michael Larson. BBA has been widely tipped by managers such as Citywire AAA-rated Nigel Thomas of AXA Framlington.

Societe Generale initiated coverage of BBA at the end of June with a 360p price target and a buy rating. Jeffries has a target of 375p, also rated buy. The company has since April purchased around £25 million of its own stock as part of a planned £80 million buyback programme. 

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play French fund CEOs: 'Brexit is a lose-lose situation for all of us'

French fund CEOs: 'Brexit is a lose-lose situation for all of us'

'We'll all lose out - but London is an international city, Paris is not.' Leading French asset management CEOs tell us what they think Brexit will mean for the investment business.

Play Henderson Eurotrust's Stevenson: dealing with European cynicism

Henderson Eurotrust's Stevenson: dealing with European cynicism

Tim Stevenson talks about where he finds his opportunities in the current environment in Europe

Play Mark Barnett - part 2: why I'm not buying Lloyds

Mark Barnett - part 2: why I'm not buying Lloyds

In the second part of our exclusive video interview, Barnett explains why he has no intention of buying Lloyds, and where he sees the greatest income opportunities.

Read More
Wealth Manager on Twitter