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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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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!
HFEL has always been an "income fund" ... it follows that paying out a high yield gives limited opportunities for growth.
It's all very well pointing to the share price being down over the past 6 years, but equally, the share has returned 112p in dividends over the same time period ....
.... looks a buying opportunity to me ... and I've taken it.
Good luck holders.
Thanks for that, I guess it comes down to the value of their holdings which are determined by the ‘factors’ but the switch from premium to discount is something they might address with a switch to a different strategy maybe?
“ Looking at similar investments in AAIF, JCGI etc gives me some comfort that’s it’s not just us‘
Quite … an argument I also made below.
Nothing to stop people trading this share …. I’ve done so last two years …. average including dividends is down to around 220p from 327p when I first bought in … so around 60p up from a buy and hold strategy.
If when USA/China sort out their differences share price rally will be back on the cards or if not and with Trump looking to inflict more damage if he gets in … plus other regional woes … the share price will fall further.
That’s the market …
"it might not be unreasonable to assume an average price from the starting point (301.5) to the finish (281.0). that average is 291.25, or 292.25"
The numbers are posted.
"The Company announces that it agreed on 28 July 2023 to allot 450,000 ordinary shares at 240.50p per share, each fully paid under its block listing facility. The net asset value per ordinary share as at the close of business on 28 July 2023 was 233.3p."
No need to guess. A bigger fund means fixed fund costs are spread across a broader base - that's the saving for investors. A bigger fund also means higher revenues for the fund's management in terms of fees - that's the gain for the fund managers.
It is unreasonable to "guess" when necessary information is available to avoid "guessing". It's also fundamentally dishonest to make a "guess" to support a flawed argument.
The current yield from HFEL is close to 12% .... similar yields can be found elsewhere ... GCP being one, in which the heavy discount from NAV is leading to management buying shares at a discount.
Investment trusts like HFEL should buy shares back when trading under water, and sell shares when trading at a premium.
The only thing we can all agree on is that we’re not happy with the SP!
I can’t imagine the fund managers are either.
Looking at similar investments in AAIF, JCGI etc gives me some comfort that’s it’s not just us.
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?