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Yes the board definitely need to get a grip. All they could do at their last report was to offer to buy some shares back at a smaller discount in 2027! Are they joking? Who wants to wait that long? Buying back shares isn't working, as, if you look, they're spending a ton of money on a weekly basis. Their PR is atrocious too. How about some new information in their fact sheet instead of a bland restatement of what they've already said.
Even Elliot and co. don't seem to be interested in an activist intervention, as they did so successfully with SMT, this trust has sunk to such a low.
BGS are spending £50k on marketing their own shares, but the only buyer is themselves as they try in desperation to narrow the discount. You couldn't make it up. The BoD needs to get a grip.
Generally trust funds have been abysmal across the board. A small part can be put down to widening nav discount . Some funds are trading at almost 50% discount to nav. Not quite the case here. BG have even performed poorly in America where the Dow has hit record highs.i thought Japan looked good for recovery after the Olympics, and yes currency had also been an issue. I watched a very amateur presentation by the guy who runs BGFD . It was embarrassingly awful. They did a lot of share shuffling a while back which looks to have done further damage to the trust. I had five trusts and decided to ditch the lot including Schroders which actually has performed quite well. Stock picking is more crucial than ever and I feel the problem is that they have too much money to manage. Personally I doubt I would ever buy a trust fund again. Aside from loosing capital value, few even pay a decent dividend, while some of my stocks yield anywhere between 3 and 7%. I had done ok in Japan, sold up and then also thought it was looking cheap. I cut my losses last year and fortunately made up the losses pretty quick. It is a very tricky environment both politically and climate wise. i seem to recall Japan recently escaped another tsunami, but they did have a tremor or two I think. There is always something to worry about. Its either a ten year investment to tuck away and forget or you have to get much more hands on and cut losses . I chose the latter. Gl
I owned it a few years ago and made some good money before selling out. Last year I decided (wisely in retrospect) to get back into Japan and saw how this stock had gone down so bought in again. Great call huh?
I've been holding this fund since 2016. Every year I review it and can't believe it can go down any further and must have huge upside, including a closing of the discount. But every year the same story; it goes down even more. There's nothing on their website to explain the terrible performance or outlook. Anyone have any insights? I know the currency has been unfavourable, but how can it keep going down, when the market has been doing so well?
No it’s not very popular. Down over 50 percent in less than 3 years. That takes some very special talent only Ballie Gifford seem to posses
This share is not very popular.Very big discount to NAV.More sell than buy.IGC which is invest in India market seem very popular among investors.
Too many holdings, but worse borrowing to buy back shares.
Ajg announce winding up of trust. At least they have a reasonable nav discount. Not quite the case here. Any special reason for this cretinous performance? Or just naff stock picking
What an exceptionally untalented bunch they are at BG. Don’t know how they do it. Japanese stocks go in one direction, up and BG trusts actually manage to head in the opposite direction. Staggering
Also BGS does not hedge the currency risk which is a big detractor when the yen is in a worse state than sterling.
Nikkei is storming away, mainly thanks to the service sectors. Unfortunately uk investment trusts are not. The investment managers just pick the wrong sectors .
https://www.bailliegifford.com/en/uk/individual-investors/literature-library/funds/investment-trusts/shin-nippon/half-yearly/shin-nippon-interim-financial-report-july-2022/
An interesting range of industrial and technology businesses. One has to think 2023 could be a better year for BGS with Chinese reopening, Japanese reopening and SE Asia and India still growing strongly.
Pathetic performances from BG all round. They do well in bull market when ahead of nav, but always end up below nav in a falling market. I've heard al sorts of excuses from different managers. The fall started well before the illegal Ukraine invasion by Russia. They pick the wrong stocks pure and simple. Nikkei is not far off from when these were well over £2
Yup, overall BGS hasn't done anything in 3 years, but it's been volatile within - when it moves (up or down), it really moves.
I'm afraid I came too late to the party here and missed the stellar returns of a few years ago. Although the companies this trust invests in are small cap, growthy and domestically focussed, somehow I feel performance is influenced by markets in their oversized neighbour, China, which have been weak lately.
I have been thinking the same, maybe because it is 52% weighted towards Technology and Industrials, both of which have taken heavy hits in the last few weeks. I am ready to buy more shares but waiting until the spring by which time the full shakedown might have occured.
Apart from March 20 crash, this is back to 2017 levels, why is this so weak?
Even on days when the Nikkei is positive this falls.
Anyone any insight into why this is back to 2017 levels.
Obviously oblivious to the rise in the Nikkei!
one shrewish brought it at near to 100 fair play
We sold half our stock some time ago when it was at its peak.
Buying back in again very soon along with BGFD, once the bottom has settled.
We buy stocks that are cheap or out of favour or have big discounts. Never buy at the top as it can only go down
For those who like a gamble and not of a nervous disposition our largest holding FFWD is priced at 7.4p with a declared NAV of 12p which may be restated at the 24p range following good performasses of its investments. ONLY FOR THE BRAVE. For those who like to take a chance there may be of a very very big profit in time. if nervous STAY AWAY. also watch LTI especially if it goes below £9000
What's gone on is that every share in BGS has been divided into five new ones. The chart on here is still misleading in that it a suggests a massive drop in the share price, whereas the original price (before the share split) should have been adjusted so that the correct comparison can be made. Hargreaves Lansdown have made this adjustment and you can see that the real price of BGS has hardly changed this week http://www.hl.co.uk/shares/shares-search-results/b/baillie-gifford-shin-nippon-ord-2p-shares/share-charts
So what's gone on here no post today no buy or sell from 12:30 yesterday . Have it gone down pan for good ??
Wife and I have been building investment in BG trusts for about 15 months. SCAM for about 2 years. Spreading the investments. SCAM, SMT, MNKS, PH, Shin Nippon, Japan Trust and EWI. I'm pleased with average growth across the board of 24% as of today. Re-invest all dividends. Some low points on the way... Feb 2018! Some good some average. Only one below break even currently in short term. But should recover. Retired, so in these for long term. DYOR.
Dunno. Was thinking of investing in this, but there is too little information. Just a gamble.
Thanks Scottie, I am assuming that the number of shares she holds will rise in that case. Not been investing for long so much to learn.