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Love predicted text….deep discount became deep dis punt….probably more accurate
As expected, there are weasel words about how long it will take to realise the p/e investments…however, this must be trading better given we all know they are winding up, whatever the long tail sum realised.
I think my issue is whether I should reinvest my divis or plough them into another deep dis punt IT, preferably not an ABRDN IT
Any suggestions very welcome!
I agree, there looks like a guaranteed profit here, barring a complete meltdown, if the NAV is anywhere close to the truth.
So, NAV published yesterday is 106…sp is 74….is this a ridiculous hold now that the trust is being closed?
Might be some upside...?
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* reason
I can't think of any other readon besides this...
What doesn't make sense to me is that, with this winding up, why does the stock price remain so much lower than the NAV? For those holding until the death, is there a fear that the true value of holdings will not be returned to investors?
This is probably the saddest state of affairs in the investment world…a good company inexorably being turned into a basket case…what do the BoDs think their responsibilities are?
And why is Bird getting any bonus this year?
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Apologies, I got that wrong - she didn’t buy 80,000+ shares! She bought 52k shares and sold 31k shares so overall a net increase in her shareholding of c. 19k. Doesn’t make much sense to me as the SP had barely moved.
Nice to see the chair buying over 80,000 shares. She must think that winding up of this trust will realise more per share than the 77 pence she paid.
Let's find out, eh.
But that will take time on the wind up.
It’s time to vote again. It suits Abrdn to close this trust but is it really in the shareholders interest? The NAV is substantially higher than the share price, and there is a lot of jam tomorrow being offered in the proposal to shutter this. How far is the discount to NAV a reflection on how far shareholders and IT investors have lost faith in Abrdn rather than the IT itself? I’m voting against all proposals until the Board of Abrdn show Bird the bird.
I feel quite positive about the strategic review.
ADIG have committed to return lots of cash to shareholders.
We are getting a 1.65 special dividend in 3 weeks (it's already gone ex-div)
They are talking about buying some shares back from us at a 15% discount to NAV (rather than the 30+% discount that actually exists)
They may well pay out further special dividends.
This is all on top of our regular quarterly dividends (currently 1.42 pence) which, given an SP of 75 pence, equates to a yield of just over 7.5%.
I'm happy to remain invested but then I'm investing for a secure income, not growth.
So the share price is back to where it was before the underwhelming 'Conclusion of the Strategic Review' was published yesterday. Our trust has become a morass of private equity investments with a nav totally out of touch with reality. Sadly the board who have allowed this to happen seem oblivious to the fact that abrdn are gaslighting them. It's time to vote down the board since they have lost the trust of the shareholders and vote against the continuation of the trust.
With Abrdn in the process of selling its Private Equity business to Patria Investments and looking like transferrring its staff too, does that mean that our trust will lose its manager Nalaka De Silva? Looks like we need another update Davina.
Over a third of outstanding treasury shares cancelled. Could this be a tidying up exercise before a strategic review announcement next week ? DYOR GLA
While the past performance may not have been ideal, it's always a good idea to keep an eye on evolving investment opportunities
What about a merger with HDIV, Davina ??? Seems a logical fit to me.
Well the market has enjoyed today’s RNS even though it seems rather underwhelming to me. Hard to understand why the SP is still at such a large discount to NAV. Look forward to hearing the outcome of this strategic review “in due course” as they vaguely put it.
Update today on strategic review says only that the share buyback programme is stopping. Not much more. If they are not buying back shares then perhaps they are going to use that money to increase the dividend. Oh, was that a pig that just flew by?
So an RNS issued on 20th June saying a strategic review is to be undertaken and inviting views from shareholders is followed by a letter 9 days later to shareholders stating that the fund is to close. That was quick work and probably leaves a lot of shareholders out of pocket.