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TBH, none of my other holdings have experienced any particular catalyst either, they just started drifting upwards instead of downwards. So patience is needed here, the recovery in SP and discount reduction will probably happen when we all stop gazing at it continually …. waiting for it to boil.
The discount has widened, but I can't see what the catalysts are for this to recover unlike some of the others
2 big purchases at close today. Too cheap now?
Debt holdings supported weaker equity NAV. Final dividend reduced from 6.39p to 5.64p. Already in the price ??? Hope so but doubt it !! Overall results were solid I’d say, so hopefully not too much market overreaction.
The discount closed a bit, but now it's widened again: frustrating.
Yes, thanks for your response. I bought some the other day.
Hi Grouville. I hold these and think that the private equity bias is holding it back. They trimmed the divi last time round but still a decent yield. Tempted to top up
This trust doesn't seem to have recovered from its discount lows, unlike most of the other private equity and infrastructure trusts, which have had a bounce. I'm thinking of having a punt. Any views on this?
The results will be this Thursday (2nd March) with an updated NAV and dividend details.
Private equity debt refinancing is now very high yielding. With 30% of APAX in that area I would think APAX is the best listed private equity trust you can buy for a steady gain.
A very heavy research document but I really like the section where it says "Applying debt discount to derived book
implies AGA’s PE discount is 42%":
https://www.apaxglobalalpha.com/media/2457/hardman-aga-initiation-of-coverage-making-pearls-out-of-oysters.pdf
Agreed, topped up yesterday, results 19th August so hopefully a climb back up as we get closer to the RNS.
I don't get it. APAX looks like a screaming buy but down 12% last 3 months.
Share price takes another step back as is often the case when a big holder wants out. Could be an opportunity could fall further but overall a dip to buy in the long run.
inching up as we approach results in a couple of weeks: maybe glowing report, who knows? However, a wealth of investments and acquisitions over the last year makes this a very interesting and entertaining company. Glad to be in LT. Fun AND profit...lovely stuff. ATB holders, spectators.
Down 0.73% after impressive results, I'm getting the impression that the market isn't very smart.
Impressive indeed, stick a pin in anywhere and you'll find hefty gains. See what happens today...luck to all.
It's off to an OK start on the NAS...
https://www.google.com/search?q=nasdaq+InnovAge
Discount to NAV of 10% is undervalued in comparison to the sector it primarily operates in now. A sector that often at a premium including AUGM, GROW and HGT. I suspect a seller, but could also do with some promotion to attract buyers and further increase liquidity. I cant find anything better value in the tech space... possibly HRI in the listed space but the companies at APAX are far more conservatively valued.
Can't wait for the results. Hoping for 30% by year end.
I'm under the impression that responsible fund managers withdraw slowly so as not to cause a panic. I'm sure the sp will recover soon. The good news is that it's an IT not a OEIC.
32 ml sell off has put a dent in my profits....now back where we were a couple of months ago. Bit frustrating it's all part and parcel...sitting tight. GL A
Big fan of APAX.
of weeks away from results, looks upbeat here with these busy bees doing what they are good at. Increase on already hefty dividend? Who knows, yet a defensive Tech, consumer, health focus suits steady old me. GLA
You can meet the managers of Apax Global at the Mello Trust and Funds Show. We all have discounted tickets available from ShareSoc, full members get an originally £49 ticket for the reduced price of £24.50 - hTTps://www.sharesoc.org/blog/education/learn-from-experts-at-the-mello-investment-trust-and-funds-conference/
that should explain it..https://www.investegate.co.uk/apax-global-alpha-ld--apax-/rns/aga-s-ftse-index-inclusion/201708311457294800P/