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To provide long-term capital appreciation by investing in companies based in India.
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I've dipped a toe in with a purchase for elder son in his ISA. It has been interpreted as bargain executed on the "sell" side.
India is expected over the next decade to become the 3rd largest economy but has rather been overlooked by global investors preferring China.
Still going strong and the NAV growing all the time. I added more today as the underlying momentum is pushing the SP to recent highs.
hey fallingknife. Thanks for that. I think I'm going to continue monthly investing in this.... 20 years time and should grow with the indian economy... and who knws, maybe even dividend at some point???
Odysseus it has been a bit of a journey all right. The tender at the end of the year will be useful. I do worry about the state of the Indian economy and the Covid effects. I wish I bought more around 60p but still have been a buyer at 70p, 80p and 90p. Must check the NAV to see if I should sell and buy back.
i plan to hold these for the next 20 years until I retire.... my average price is 62p. I bought a tranche when done in 30s.
How long before this gets to £4....? 3 years?
I may start now in my isa every month buying some until i get a better idea if what to buy with the investment. What do people honestly think of this Inv trust? Not so long ago it almost wound up due to "poor performance" relatively
NAV now 95.4p India technically in recession and with COVID rampant I am still optimistic that we’ll get to a pound by the end of the year
Don't think that is true mcco as every holder including myself would do the same. I think the shares would drop anyway in that case leaving you no better off. I bought some today to average down but still have an average buy of 90p. Hoping the climb can continue though to reach 80p and then 90p.
I heard that there could be an option for holders to cash in their shares at NAV in October. Is this true? If so, I would plan to do so and reinvest the proceeds
NAV reaches 80.74p today but SP hasn’t reciprocated
NAV creeping up slowly and steadily over the last month from 70p; that's the way I like it!
Should we expect 80p next week?
Looking forward to seeing this SP rise over the next 2 years. If it doesn't perform well over the next 2 years then you are getting a 20% return from today, if share prices stayed the same, if you choose to cash in your chips. What's not to like about that?
India over the next 10 years will be an interesting place to invest, if you can get your selections right the returns could be substantial. Share prices have stagnated and fallen over the last 10 years but this won't continue IMO.
As previously said, the main shareholdings aren't too heavy and with a doubled up investment team that can only be positive, surely.
With the talk of a return to a small amount of inflation in emerging markets, this should start to improve the outlook for some of the holdings.
I know I'm a lone voice on this Board, but I still cannot fathom why there is such a large discount in the SP compared with the NAV. Also, there seems to be no understandable correlation between the SP and the daily NAV; for instance, today the NAV rose from 69.77 to 70.36 and the SP bid price fell from 54.60 to 53.20. Good however to see the Chair has increased her shareholding
NAV now over 70p - it’s been a while since we saw 70p
Still a huge discount in the SP for a fund which is not top heavy in any of its holdings
NAV 66.89p
Bid 51.20p
Offer 53p
Vote tomorrow to wind up Fund and receive c65p
Why not?
Discount to NAV is now c33% so surely the financial argument for closure and liquidation of the Fund is indisputable
It seems that if the vote to liquidate the fund goes through,shareholders will get a 20% uplift with the NAV above 60p even allowing for costs of liquidation. As the shares held in the Fund are relatively widely disbursed there should be very little discount to to the market price
The Board is likely to recommend that the Fund stays open. Why? Or is that a too obvious question? The Fund Managers have had a disastrous record, unless of course the Board overruled their recommendations. If the vote to continue goes through we will probably be back to a substantial reduction in the SP. So the vote seems to be a no brained; make 20% or lose 20%
In Dec 2017 I sold all my shares in igc and posted the following on this site:
This investment trust has an excellent investment manager. However I do have my doubts on the the Board running this excellent investment trust. I can see no advantage to a listing on the main market which is currently being considered and I do not believe it is in the interests of the shareholders. The disadvantages of a main listing are:.
Stamp duty would be become payable when shareholders make further purchases.
Inheritance tax would become payable on holdings in India Capital Growth Fund (at present exempt on Aim if held for two years)
Higher regulatory fees
The Directors were going to reduce the discount to NAV once it was on the Main Market. All they have done is drive away small private investors such as myself. The discount has gone for around 15 /16 per cent when on Aim to about 32 per cent.
The Board needs sacking.
Discount to NAV now 50%
The NAV is 66.7 so why are people selling at 40, a huge discount?
The Board and investment advisors have a lot to answer
I'm not a professional investment manager, but I would like to think that if I were I would have liquidated some of my holdings in Indian corporates after the Chinese Virus was seen to be spreading. NAV has fallen over 40% since mid February. Who's making decisions? Anyone?
The SP this morning shows a fall in NAV of c4% (a very large fall), yet the SP increases by c!%
Strange
I don't know what the fall in the NAV reflects. Coronavirus probably, but surely a delayed reaction
The SP should go up now, buy now at this price if you're thinking about it.
I take your point, Fallingknife, but our holdings in our invested companies are a very small proportion of the shares in each company, so we should be able to sell at very close to the market price should we choose to liquidate. At the moment we appear to be depreciating the value of each investment by over 20%on purchase. Like you I got in here at over a pound so am down 25%
Well mcco, many investments operate at a discount to NAV simply because if you had a firesale then you would take whatever price you could get. That said I have been disappointed with how low this has fallen. My largest purchase has been at 101p but most in the 80s. Since it hit 70p I feel the recovery in the SP has been strong and I am hoping that India which is growing fast can be a good place for investment. Hopefully sentiment has changed here and NAV can go back to 108p which I believe it has reached previously.
At the current bid price of 73.6p against a NAV estimate of 93.08, this represents a discount of over 25% by mt inexpert calculations. Why?