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aims to provide a high level of dividend as well as capital appreciation from a diversified portfolio
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Very disappointing, you would expect a managed fund to be more proactive and to have moved out of underperforming assets sooner
One problem with these funds is that the management get paid regardless of if they deliver or not
Its taken them 3 years to reduce the share price from 340p to 207p today, which is pretty impressive and about where we were 10 years ago.
It must be run in the same vein as UK Work Pension Funds - luckily I have my own SIPP!!
Will watch with interest - below 200p and its gone, but just perhaps we have bottomed out and may crawl back to 220p
Yes they don't seem to be under any illusion that they've underperformed and not made the best decisions. Actually fairly refreshing to read rather than blaming everything else.
They have been pretty much up front with the current position accepting it `s been a bad year capital wise .I bought into this share for income which has increased .They have analysed where things have gone wrong and the reasons why and now feel this coming year will enable them to get a more balanced income/growth portfolio taking money from reserves to support the dividend if necessary as I read it. I`m sticking with them.
Agree.
Had sold up and was waiting for the drop to consolidate. I’ve recently started to rebuild a position here. The report today would seem to acknowledge their over reliance on China and pure value plays. Hopefully the SP will see a bit of a recovery through the year. Not expecting any increase in the dividend this year beyond a token rise to maintain the illusion of increasing yearly dividends, plus keeping in the AIC records for dividend growing Investment Trusts.
Pretty ghastly set of results but thankfully the managers now seem to be taking action to address this. Albeit a little late in the day. Appear to be maintaining the dividend for now.
Sk1
good to see you back peddling doom - it did wonders when you did the same with Tesco after my purchase of them at about 207p, a little over a year ago . Hopefully the markets that HFEL invest in will now see a recovery.
Agreed on Biden. He's losing control of the world. Rogue states are popping up all over the planet, from Russia to Yemen, to exploit his frailty and worsening dementia.
Trump can be good for US stocks, returning global stability and US perceived dominance. But China stocks won't be happy when Trump turns up the heat and Western firms relocate even more to India.
TOD
OK I am filtering
Nutters have arrived .... just got the filter out ... suggest you do the same.
While I agree with Skier on his first part you can also argue that peace and prosperity will be good for markets and if Trump's first term is any guidance that's exactly what he achieved. At least until the China virus exploded on the world.
The worst thing for peace & prosperity is another 4 years of Biden where every dictator in the world will expand their ambitions while Europe and the US pays for both sides... It's at this stage 50/50 as so often. I suspect that the only thing that would tilt in markets favour is that I don t think Biden will go into the election with two wars under his belt and I think he will try to settle if not both at least the Ukraine war. By November 24 Israel will have decimated Hamas anyway.
LTI
Stop wasting my time.
Trump will be back in office by this time next year. Either in the White House or from Rikers Island. The first thing he's going to do is put the thumbscrews on China. Trump fully understands the threat posed by a genocidal unelected communist dictatorship that is urgently tripling its nuclear warheads, beefing up to invade the world's largest chipmaking country that powers almost every gadget and military on the planet, while headed up by man who openly calls himself the new Stalin. That kind of atmos is not good for the China stockmarket. Which in turn is not good for HFEL. Doubt any bounce here will be sustained.
AD
What I have posted is 100% correct.
Maybe it is about time you are able to find it in yourself to acknowledged that ,otherwise don't waste any more of my time..
LTI
I forgot you repost insist it is correct and add an insult you instant.
Interesting reading there and worth bearing in mind when it says about consumer spending returning that there are a lot of them!
I don’t recall seeing a 10p discount to nav on these before so there’s clearly some upside short term.
A friend of mine has switched all his divs to scrip/drip reinvests this year which is a great longterm view with these prices.
Last bit -
''Investors are assuming China is in deep trouble and struggling to see the upside. The market is pricing in this pessimism. When the mood is bleakest it is usually the best time to find bargains.''
I made a sale at 264p a year ago (11th Nov 2022) - lets hope that asset values can get back to that level in the next 12 months.
Now at over 215p
Cheers for that mate. Makes sens. GLM
TOD
''so around 60p up from a buy and hold strategy.''
Well done - I am also an active investor
James
''The only thing I’ve noticed over the last few months that’s changed is the premium to nav has become a discount to nav and just wondered what fellow holders think of that?''
Simple case of not so much demand in a high rate cash environment added to the fact that investors are put off with the slump in the markets that HFEL operate in . Many investors do not take advantage of asset values when at rock bottom. In time the underlying markets should improve valuations.
Ade
''You just repost the statement and insist it is correct.''
stop being an irritant .
What I have posted is 100% correct
Fair play, adding at a discount to nav with this yield makes a lot of sense.
Income wise, no complaints on that score and delivery too has been fantastic including paying during the pandemic when a lot didn’t!