Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Well ESG …. Renewables …. Whatever …. The argument is weak …. What are the directors saying? They are investing in the wrong sector?
It’s kind of cr*p I’d expect from Johnson, Gove, Han**** or Javid ….. we are not all as dumb as the average Brexit Tory voter.
I have - I will feed back if I get a useful response.
Difficult to type on a small screen with bad internet and blazing sun.
The lacking in certainty has caused the price drop. The directors need to clarify this position quickly.
I’ll be writing to AIF and demand that the process is made transparent to include remuneration for directors in case of an approved move and the valuation process for transfer Preferably by RNS.
The reasonings given for the change are weak …. That by itself suggests the directors are useless… but there is a good gain to be made here with sensible management and forcing the shorts that pulled the share price down to close.
Suggest others write in and demand clarity too.
It is not clear how many holdings they would need to sell if the vote was for continuation. Although they many not have renewables etc, if you look, many would also not be excluded on an ESG basis and I assume that they could sell down any that did not meet their criteria over a longer time.
It would be interesting to hear from the directors what % of the portfolio would be turned over if it continues, as this its self, comes at a cost.
The point about this fund as I understand it, is that the fund itself is too small to be worthwhile, while in taking over the fund assets the core holdings will be sold in any case.
The argument is bogus … if renewables are the way forward Acorn can move over to renewables. …. The directors want rid of the liability and a backhander to transfer shareholders money to someone else.
I the directors then undersell assets as a result of closing the fund they risk reputation and lawsuits.
I’ll be voting to wind up the company …..
Noisily.
ROFL
:)
At last, someone with sense.
I guess the issue is, will they get the nav value of their assets ? For small caps a 10-20% drop is not uncommon especially once everyone knows there is a forced seller.
The "Green" sector has seen a sell off this past 6 months.
Some of the loss will be down to the stronger £, some will be down to money rotating out of the sector with stocks rallying elsewhere ...
... that said, I read an article recently that argued oil producers do not want oil prices too high, because it will accelerate the shift over to renewable energy sources.
I'm quite heavy in renewables at this point, while AIF I still see as a no brainer if people vote to close the fund and realize the 427p assets.
I'll be voting to close the fund.
From an article in The Times-
‘Liontrust had a target to raise £150 million from investors for a new ESG investment trust. But the company eventually had to admit it had just failed to reach even the £100 million it had sought as a minimum. The entire plan was scrapped and Liontrust was reduced to paying back applicants.’
The article also refers to Impax’s fund in this area ‘its portfolio is now priced at a spicy 26.9 times prospective earnings, significantly above the historic average of 20-25 per cent, which itself is high.’
Further evidence, in my opinion, that this is not the right course for AIF to be taking.
I’m not keen on people trolling with immature irrelevant statements such as “you started first” when referring to a grudge you seem to have over a nondescript comment I made on a different thread that had nothing to do with you.
Learn to argue with greater efficacy is my advice, along with buying a dictionary …. Conceding one was lucky might be many things, but bragging is not one of them.
:)
Sorry mate, blocked you, never did like noise.
I do believe my phrase on DEC was "lucky" having bailed before a mini collapse.
Meanwhile, my first trade in Acorn was 2/11/2020 at 257p ... I enjoyed the November rally ....
Now imagine moving one's final salary pension of 35 years contributions with a January 2020 pricing into one's SIPP landing in April 2020 ....
..... and doubling it in just over a year.
Now that's bragging ..... and it's quite fun .. especially being on an Island in the Aegean looking at the Sun rise, over the Med as I write.
Now a hard day sunbathing lies ahead.
Have a good day.
:)
You started it ToD with your immature comments, was it on DEC ? Who cares, low life.
“ Worst that could happen is that Temple_of_Doom profits from trading a company that was a dividend favourite.... and carries on bragging about it, as in DEC. ”
I’ve sold out too early on one of these types of funds that closed realising the difference between traded share price and NAV before.
427p NAV trading at 352p?
I’ll be voting to close the fund and realise the differential.
While attacking the person not the comment made?
All very low IQ left behind Brexiter sour grapes in my experience.
:)
Got to admit I thought ESG stood for Entertainment, Smoking and Gambling.
Shame the woke, anti-capitalist, anti-democracy snowflakes have spread their invidious contagion to a hobby that has given my family years of enjoyable and profitable entertainment.
Environmental - well yeah I get that.
But what the heck is Social and how do you measure it?
And governance - isn’t that being done by the Boards of Companies?
Thank you for the large dividends, thank you for the final push to provide a decent profit. Let's meet up in two months to see where you are and what you have to offer to a long-term dividend investor.
Many years and many divs, in times past.
Avoidance of change, mental bias says sell, so ...
>Null
Worst that could happen is that Temple_of_Doom profits from trading a company that was a dividend favourite.... and carries on bragging about it, as in DEC.
Closely followed by a near halved dividend, the investments not being what we signed up for, and the fact that the price is already plummeting.
Vote against the proposals, collect the next dividend, sell out, and block ToD before he starts getting clever.
What is the worst that can happen?
Equity is sold for NAV with a 20% gain for holders buying in today and moved to other equities with a more global reach with a similar 20% reduction in NAV.
Can’t see it happening myself.
Vote to discontinue the fund and collect. Bought back in last night and this morning.
Thanks for the comments guys. Pleased I am not alone in my thought. We are showing a 19p drop today, just because of a UT of one share at 347p. Someone trying to spook us ? At the moment I am thinking of reducing my holding after the next ex-dividend date and seeing what happens over the next few months.
I agree, we have it sitting in my wife's account, she just wanted something that payed a good div with the chance of some growth and was in a different space to some of her other divi payers. I guess that is the case for many holders.
If AIF want a Global ESG trust then they should launch one rather than trying to morph this into one.
I think we will be voting against continuation.
I'd have preferred it to remain 'as is'!
It seems a huge shift from what the trust is now to a global ESG equity trust with a 3.5% divi.
... of Investment Objective, Policy and Manager.
RNS not yet showing here.
Sounds like this may no longer be a viable dividend investment after the June payment.
Ex dividend soon, nice trade up to now but sitting at the top of the range