We would love to hear your thoughts about our site and services, please take our survey here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Anyone know if they even received the Rouble dividend from Gazprom or are we all just assuming they're running things correctly at the Russian side?
As previously stated, the nav reflects the kazak sale plus the rough 1% valuation put on russian assets... if you.look what russian assets jrs has, and google current moex prices you can work a rough 'true' valuation... however since there is no access to such funds at present it becomes a waiting game...
Hold for gold..
I'm puzzled why there are buys at around 80p, with the last published NAV at about 43p.
Can any suggest why this might be?
ok ngr... thanks.
fascinating to know what drove those buys todays....felt like the russian news flow was the worst we have seen in a month or so??
I bailed out of this above 1 pound as could see it wasn't going anywhere soon but always keeping an eye on it...
..Better day all round, a good few chunky buys... bottom reached..?
Slownsteady, I rough worked a nav of 450p on the top 10 russian holdings alone, so interesting how this plays out..
I hope they don't shove the Kazak monies under the mattress until it all blows over..
saw in something this weekend that JRS had sold their Kazakh holdings...anyone else seen this ?
The nav is 42p if you value the unsold russian assets at 1% of actual value and don't count dividends. If the Russian Market were to open to 'unfriendly' countries tomorrow the nav would be around 500p by my calculation but don't use my figures calculate it yourself.
Yep. That's me.
Appreciate the tip and comment. I'm expecting a renewed trickle of negative press on Polymetal as well soon, can't have private investors profiting from the dip and potential rise, that's the ii's job! And I kind of see the Telegraph like this.... https://youtu.be/hW5EiGwi_a8
If you Register on the Times, you'll be able to access two articles per week (Monday to Sunday). The slate is wiped clean on Monday. I also know how to get behind the Telegraph paywall... my own little two finger salute at that awful rag and its psychologically damaged readership.
But the chap who's written this is a "teenage scribbler". Not much kop. I recall once he wrote about long-term investing - with a 3-6 month horizon.
Neither is that other chap ("Diary of a Private Investor") any good. He uses it as a vehicle to brag about his successes. But not his failures quite so much
Anyone subscribe to the Times? (it's ok we won't judge you :D ) Is this a generic article or another attempt to squash the share price, now a war outcome (may be) on the horizon?
https://www.thetimes.co.uk/article/why-im-not-betting-on-a-russian-market-recovery-bmn62q32z
Ok, look forward to your calculation.
Is that not pre-war nav though..? Last taken feb 22..
If you are asking for that info (available through JRS' latest Accounts - can be Googled) to calculate the "Actual" NAV rather than the published estimated NAV of 43p, this HL link tells us it's 621p?
https://www.hl.co.uk/shares/shares-search-results/j/jpmorgan-russian-securities-ordinary-1p
Anyone know current values or share amounts per each share owned in Russia..? Ie how many Gazprom, how many Rosneft etc..?
If there is a link to this info all the better...
https://www.theaic.co.uk/aic/news/citywire-news/jpmorgan-russian-becomes-hugely-expensive-cash-fund-after-kazakhstan-exit
No real new news, just confirming kazak exit and JRS largely a cash shell..
I can't pretend I know how this is going to play out, but feel a further drop towards NAV value maynwell be incoming... long game this one, huge upside with not much downside from here..
Which other board? Findmyidealpartner.com?
Still unsure why Kaz assets disposed of. Anyone?
Kazatomprom a good shout so be a shame to lose that.
Thanks
GLA
The best explanation I've found for what's happening to JRS' Russian holdings is this:
https://www.morganlewis.com/pubs/2022/04/update-delisting-of-russian-issuers-depositary-receipts-the-end-of-an-era
JRS holds (held) GDRs and that these are being replaced with conversion to something. The Russian Federal law appears to be clear that the shares remain the legal property of the shareholder and that once an arrangement is made then the shares are restored back (along with accrued dividends as previously mentioned by another posting). There is no expropriation of GDRs as such - although you could argue if they do not provide a replacement then it is effectively expropriation in all but name.
2nd - This is the latest JRS fact sheet
https://jp.techrules.com/rebrandingPDF/LoadPdf.aspx?ShareClassId=540&country=GB&lang=EN¶mMIFID=YES
If you assume that the "benchmark" is roughly the same as JRS' holding (if anything I'd have said this is a conservative estimate and that JRS was energy heavy so would have outperformed the benchmark) then you can there's a 23% drop in the benchmark which equates to roughly the prior JRS price of £7 x 77% = £5.25 "actual" share price. We know there's 40p of NAV in cash and central Asian holdings, so the "off book" value is worth approx £4.85 (£5.25-£0.40) and effectively you are paying another 40p to wait for that £4.85 (which could grow through dividends and capital growth, although I would suggest that future dividends would be lower under sanction hit Russia.
I've owned JRS for several years and was reluctant to liquidate at such a large loss after the price drop. I wouldn't commit more funds on moral grounds although the mathematics of risk/reward seem quite favourable - if you are prepared to wait it out.
Kuurj - I guess best not to always trust the share trades as others have said..
We are in for about the same here, bit of a punt but the ride could be quite fun if turns around
My previous buys showed as sells also??
@Matan, thanks for your reply, obviously facts are pretty straightforward, but am of the same conclusion, that it is a strong buy - was mainly waiting to see if I could get in at a lower price - which I just did! :D
But also curious as to why everything has been so quiet on here today, and the share price so odd on it's quoting today...
@Rico1991, what's even stranger - I made my by at 16.04.33 for exactly 180 shares, for £984.80. But on the LSE JRS Share trades, it's showing my BUY as a SELL!
Strange that looks to be only 1 buy today and the rest are sell.
Surprised there's been zero chatter at all on here today...
Been thinking about buying in here, currently have exposure to Russia through POLY and EVR, so thinking a small position, only £1k...
Been getting quotes for 86.5 GBX all day, what's with that?!? Any ideas, general thoughts, or opinions would be nice to read! :)