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Share price right now £5.81. Asset value right now £6.81. ,!!!!!
Started: Tolleshunt, 25 Jan 2023 10:19
Last post: Tolleshunt, 25 Jan 2023 10:19
PHI is being added to the FTSE 250 listing this Friday in place of Biffa which is being taken over.
Started: westo3, 11 Nov 2022 13:04
Last post: westo3, 11 Nov 2022 13:04
Any thoughts on the sudden surge in price?
Started: Mommur, 24 Oct 2022 17:57
Last post: Mommur, 24 Oct 2022 17:57
They have to be - especially with a growth fund. Added today even later in the cycle than my previous purchase a 100p cheaper!! I should sit on my hands longer!!
Started: littlened, 24 Oct 2022 12:49
Last post: littlened, 24 Oct 2022 12:49
Manager is very bullish on Far East and his fund
Bit later in the cycle so seems a sensible option for me to buy in yesterday. After FEET debacle perhaps this may be a better home for some of the funds.
Started: benjybrown, 28 Jun 2021 17:54
Last post: hghotshot, 29 Jan 2022 18:06
Got back in at 718 (NAV discount just over 2%). I will continue to keep an eye on the discount. Will buy more if the discount increases significantly (to exceed 5%).
Bingo!! Now trading at a discount, at last (of around 2%). I will be getting back in soon.
Premium now down to 3%. I will be watching this very closely from now on.
Premium is relaxing now, down to around 6%. It is getting close to where I will be looking to get back in.
Call me old-fashioned (you would not be the first) but a premium of over 10% does not make sense to me. I see this as an anomalous situation which some might characterise as the result of "irrational exuberance".
Started: Alas_Smith, 20 May 2021 15:37
Last post: Alas_Smith, 20 May 2021 15:37
Over the last 10 years the share price has traded at a discount to the underlying assets (NAV) by between 8% and 12%. However, the exponential growth since March 2020 has seen the NAV discount all but evaporate so I am expecting a little more weakness in the share price but with a strengthening in the NAV.
I'm happy to wait for the historic balance to be restored or at least see the SP trading above the 50 day mark before making any decision to adjust my holding.
Rise was because the DOW breached a new high, soothing words from poker faced central bankers to dampen bond yields. Money has to be made somewhere and it all comes down to the management of risk.
So, while it is relatively easy to manage an investment pot of say £1m to have a consistent return of 6%-8% capital growth and 1.5% income by spending one day each month reviewing the portfolio and perhaps executing 2 bargains each month. If the same approach were taken with a portfolio of say £5bn, politics, economics, weather, war and seemingly irrelevent news can and does have effect.
It is easy to shift a single £50,000 holding, but if the holding is notifiable (3% or greater) there is the potential for disruption. A good example was investors running for the hills when Mr Woodfords flagship funds began failing. At first could replace funds through new investor contribution. When those dried up, so the poor performing holdings began to be sold off. These sell offs caused further weakness that accellerated share price falls. Falls, reduced the NAV of assets to cause further worry...... Investors left and called their money in so greater and more substantial sales of the realisable assets were necessary and the spiral continued.
We have seen something similar. Realisation that when each huge slug of cash introduced it will ensure that workers remain employed and taxes are generated to allow a country to function. Coupled with interest rates that are negligible and all is good. When there is no margin to reduce interest rates and the amount being chucked at the problem, two things happen. First that it dawns that the money needs to be repaid and second that the shortest way to repay it is through the erosion of capital.... ie, inflation.
Inflation means that wages and thus costs, rise and margins shrink. Equities thus have increased risk but bonds provide safety
After a shaky frightening drop. Delighted to see this take off today.
I bought in again at 780 and saw a significant loss in days.
Hope this rise is sustained, not sure wasnt was driving this today ?
Started: Alas_Smith, 25 Feb 2021 12:35
Last post: Alas_Smith, 6 Mar 2021 21:53
Well, I console myself that as I have been trying to build my portfolio since 1979 when I graduated, I have probably seen the full gamut of catastrophe and exuberance. Investors have much to look forward to as the immediate future becomes clearer.
Let's start with the $1.9tn relief package that has been approved in USA. Putting that in perspective it is like a single money injection equivalent to $2,000 for every minute in 2,000 years. Next, corporate America is no longer in an earnings recession, then we have China that this week published its 5 year plan and forecast 6% economic growth for this year. Add to this that 20% US and UK have been vaccinated against Covid19 and about 12% for Europe. All are starting to find their feet again to begin the rebuild of economies.
Economies deliberately sacrificed to prevent deaths was a new one on me and it is clear to me that most governments had poor management at the outset, panicked as matters worsened but were always focussed for managing matters at the point of inflection. That point was found in November with the announcement of viable vaccine, and started to kick in once the vaccination program began to be rolled out.
This is most definitely the point (IMO) to be fully invested. The vaccination program that began 2 months ago has provided protection for 20% of the most vulnerable (in the UK) and by the end of March, I warrant that this will rise to be 20% fully protected and 35% UK partial protection.
The Pacific region has populace that is far more compliant of rules than the developed West and that is why their economies are recovering faster. But they are not yet vaccinated in substantive numbers and it is that which is perhaps suppressing growth.
I remain bullish and anticipate adding to my holding during this month as I re-invest dividends that are starting to again appear on my account. Please do not attribute any credence to my posts as I do not hold licence to provide investment advice. Simply these are the musings of an old bloke from a troglodyte perspective
I bought in December & was up 30% as quickly & recently as last month. Pretty much all of those gains have now been wiped-out. Figure I might as well let it ride, as the WEF tells us "by 2030 you'll own nothing & like it".
This is pretty rough. It's been a downwards trend ever since I invested a week ago (sorry!). Anyone got a price for averaging down?
Well, things are al looking a little bleak at the moment, aren't they? Americans don't give a hoot about having a liar as a President for 4 years yet get hot under the collar when yields rise a paltry 0.25% (or whatever it was) from an unprecedented low because there is the glimmer of inflation.
China is forecasting growth of more than 6%, USA has drawn a line under corporate earnings recession, UK has vaccinated about 25% population, America 20% and Europe is beginning to catch up albeit from a late start. I remain bullish despite having had an atrocious few days with my portfolio taking a caning.
I am not a chartist by any stretch of the imagination, but the share price has a habit of putting in a decent rise off the 50 day moving average. That happenned in late December, Early Feb and again today (ish). My short term target is 960p.
Started: chard, 1 Mar 2021 17:26
Last post: Alas_Smith, 2 Mar 2021 16:27
FWIW, I am extremely bullish and increased my risk last November when it became clear there was to be a change in political leadership in USA.
Why, you might ask? There is an awful lot that can go right and it started with the announcement of viable vaccine, then Brexit out of the way, the inauguration of a US President more comfortable with "traditional" diplomacy, rollout of vaccine(s) and the broad pathway for a return to a more normal way of life, without masks and able to travel.
Coupled with this is the HUGE amount of money that UK, Europe and US are chucking into markets to return their deliberately trashed economies to prosperity. And although bond yields increased a tiny amount last week to send some scurrying to their wet nurses, that wall of money is not going to cause rampant inflation (well, not just yet).
Sure, once lockdown is lifted for all accross UK and Europe it will encourage some spending and compared with a coiled spring being released. But coiled springs might kick start things off, but they tend to return to stability. The relief will be short lived as the reality of redundancy will emerge.
I am not a fan of continuing the furlough scheme without good cause. I am very sympathetic to those businesses that are prevented from re-opening and would continue the furlough scheme for a full 6 weeks after they are permitted to re-open. The country is rich and can pay for the damage that it is done over a decade or more.
With any luck we will have a realistic budget tomorrow, though I fear that the ground will be prepared for belt tightening in later years. Perhaps the cap removed on NI for instance, the scrapping of Stamp Duty as a land tax and an increase in Stamp Duty on bargains from 0.5% to 0.75% would not be unreasonable. I would also extend it to cover all bargains on the LSE or its junior market, AIM.
Clear that reform to business rates is needed - a turnover tax, fledgling businesses (1st year), pay nil, £100, 2nd year and £350 in year 3. Micro-entities, regardless of the industry (under £500,000) pay £500, tiny businesses (£500,001 to £5m), £500 per £500,000 increment, medium businesses £5m-£100m incremental £1,500 per £1m and large business 1% turnover.
I've just plucked these number from the ether without any serious analysis. Emphasis needs to be given to small startups, especially those consequential on pandemic.
Hi
I reduced my holding in BG US and bought into this friday obviously delighted with today’s result and in for the longer term
Just wondering how people saw the next few months going ?
Started: BuggerTheBanks, 23 Feb 2021 14:13
Last post: Alas_Smith, 25 Feb 2021 12:04
FWIW, my purchase today for one of my sons is showing as a sell.
Yeah new share issue and panic selling due to Bitcoin madness and inflation fears. Emerging markets are still a safe bet this year. This will bounce back quickly, great opportunity to buy the dip
Something to do with the issue of new shares?
We've been getting clubbed like Nancy Kerrigan's knee for about a week now, but down 8.5% today????
WTF's going on?
Started: Highlander8219, 12 Feb 2021 17:35
Last post: Highlander8219, 15 Feb 2021 12:57
Yes, SMT is a behemoth now, you picked the right time to get in. All top ups now into PHI for pure value growth, some excellent holdings like Sea Ltd. I noticed more holdings now in some miners to pick up on Commodity and infustructure surges in the emerging markets.
I too am in both but only 18 months in smt and 2 months in phi. Percentage wise, I reckon a larger increase with phi over the next few years.
Thought I'd give PHI a bump. I've been fortunate to have been in PHI, alongside SMT since the beginning, long wait but bearing fruit now. Excellently managed and some real gems in its holdings. With Emerging Markets being big this year, anyone for over 10 by December?
Started: westo3, 29 Nov 2019 01:43
Last post: Reckoner, 11 Jan 2021 10:27
So why was the equity issue price (as stated in the RNS) significantly higher than the SP on several occasions in December?
I notice this isn’t the case in January btw.
Noone is going to buy shares ABOVE the market price,that doesnt make sense.But buying above NAV does make sense if there is a premium which might be sustainable.It s good for the company because its the only way to increase there portfolio
Yes, the RNS is retrospective but you’re still right that they are being issued at a premium to the price on that day. I’m learning as I go here, but I think the way it might work is that certain brokers will be used by PHI to offer the new shares to current investors, whether these are institutions or high-net worth individuals. They might be willing to pay more than the SP simply to ensure they don’t see a significant dilution to their % holding. The rest of us are excluded it seems, but we can judge whether the investment still makes sense according to our own objectives.
OK, got it now. It,s the time of the rns that.s confusing me. I assumed the shares were being offered at that time for sale the following day, whereas they had already been offered and presumably sold earlier on the day of announcement.
Happy now I understand it because this is one of my largest holdings and I needed to be clear.
That's as I see it Reckoner. Thanks for your post.
The only query I have is saying "sold" or is it "offered" at since the initial 3 tranches were priced well over that days, and the days since, market prices. Have they been sold and cash received or are they laying there awaiting sale when and if the market price catches up
Started: bumpersheep, 17 Dec 2020 14:16
Last post: bumpersheep, 17 Dec 2020 14:16
Big new share issues 'to meet demand'
Started: sectorbreakdown, 15 May 2011 00:21
Last post: sectorbreakdown, 15 May 2011 00:21
LSKI IS LES ?
Started: sectorbreakdown, 15 May 2011 00:19
Last post: sectorbreakdown, 15 May 2011 00:19
LSKI CLEANS UP
Started: mulledwine, 11 Mar 2011 22:15
Last post: mulledwine, 11 Mar 2011 22:15
In the six months to 31 January 2011, Pacific Horizon's net asset value per share rose 10.8% while the MSCI All Country Far East ex Japan Index in sterling terms rose by 14.6%. The Company's share price rose by 13.2%. · A number of the larger holdings such as Li & Fung and Samsung Electronics continued to perform well. Some individual industrial names and Indian holdings demonstrated disappointing short term performance. · Earnings per share for the six months were 0.17p compared to 0.10p in the first half of the previous year. As in previous years, no interim dividend will be paid. · Economic growth across the region has been robust, building upon the recovery since the global financial crisis. · The Board and Managers believe that the quality of companies in which the Company invests remains high and overall valuations continue to be attractive for investors, notwithstanding the recent short term reversal in equity values in many of the region's markets.
Started: mulledwine, 11 Mar 2011 22:14
Last post: mulledwine, 11 Mar 2011 22:14
Started: mulledwine, 11 Mar 2011 22:14
Last post: mulledwine, 11 Mar 2011 22:14
Pacific Horizon lags its benchmark Date: Friday 11 Mar 2011 LONDON (ShareCast) - Asia-Pacific and India-focused investment trust Pacific Horizon saw its net asset value (NAV) per share rise 10.8% in the six months to 31 January 2011, a performance that lagged its benchmark index, the MSCI All Country Far East excluding Japan, which rose by 14.6% in sterling terms over the same period. Earnings per share for the six months were 0.17p compared to 0.10p in the first half of the previous year. As in previous years, no interim dividend will be paid. The best performing markets were Taiwan, Korea and Thailand, which posted gains of 27.2%, 21.4% and 15.1% in sterling terms respectively. The weakest were Vietnam, India and China with returns of 0.3%, 1.4% and 2.8% respectively in sterling terms. "The outlook remains bright for the markets of the Asia Pacific region. Economic performance is expected to be robust with the many structural drivers of growth continuing to present an attractive backdrop for our companies," the company said. "The company remains ungeared with a low cash balance and expects to be able to take advantage of future opportunities as they arise," the statement added.