The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen 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.
Dunno what they have currently, as they haven't updated afaik.
As of June 2022:
Top 10 holdings (%)
Holding name %
Oxford Nanopore 20.8
Atom Bank 12.8
BenevolentAl 11.0
AMO Pharma 5.4
Reaction Engines 4.2
Federated Wireless 4.2
Ada Health 3.4
HP Environmental Technologies Fund 3.4
Nexeon 2.9
Immunocore 2.9
Don't think any? Of their holdings are close to being IPO ready sadly. Lots of junk in their valued at finger in the air levels which the market is pricing in.
Might be worth a punt at 15p but it's a cough gamble..
2% reduction in shares per year,
except that if there's hardly anyone trading the stock and eps is fixed or declining,
then the sp will be pretty much fixed, or decline slightly, which is what's happening.
Solution: RAISE EPS BY RAISING EARNINGS AS WELL AS BUYBACKS.
£7,500 per trade. Pittance!
18084 trades! Can't they speed things up a little?
At the rate they are buying it'll take 50y to buy them all!
They buy back shares, but no regular investor stuck in it would sell at such a low price!
Who is selling to them?
What about IPOs? Money to be made there.
They did well raising capital with ONT.
Well no, as the NAV is fictional given a lot of these holdings have no real market for any volume. Or are even unlisted.
Try to sell this stuff and you wouldn't get close to NAV in total in the real world.
Not sure where the bottom is here. There might be a wind up in the end or a consolidation but sadly don't expect nav.
Probably a prudent move considering all the vaccine damage lawsuits...
Good to invest in fixing the damage done by some unscrupulous big-pharma companies, NGOs and government s!
https://www.britishbulls.com/SignalPage.aspx?lang=en&Ticker=SUPP.L
Could they not just wind this up and pay us the NAV? I think that would be better than waiting God knows how many years for the SP to rise to anywhere near the NAV level.
Yup, there wasn't much competition when Schroders took over management of the Trust from W.I.M., as the portfolio was viewed as a bit of a poisoned chalice at the time. In the 3 years since, all they seem to have done is manage the decline. If they're learning on the job, they are certainly getting well paid for it.
Must be fair though and acknowledge that these are not the best of times to be investing in pre-profitable private companies, as the performance of any number of 'growthy' private equity investment trusts would testify.
Make of this what you will, but this name pops up in management:
"William Heathcoat Amory"
When Looked that up, I got this:
https://en.wikipedia.org/wiki/Heathcoat-Amory_baronets
One of their worst pieces of work I think.
In all those pages of analysis, how can they not even mention the name Woodford and his legacy on SUPP and its portfolio? If you buy SUPP today, and into the foreseeable medium term, you are substantially taking a bet on the Woodford picks. Doesn't get a mention. History blanked and re-written!
Likewise no mention of the truly appalling worst-in-class performance over 5 years. Rather it's all lame excuses about the Schroder Juniors and how we must give them more time. They've had 3 years and have done nothing to improve the performance or the shocking discount... and that's mostly down to the Woodford picks, but no mention again.
History blanked and re-written!
As a LTH, I agree with one thing: One day - eventually - this trust will begin to do better - it can hardly do worse can it? - but in the meantime, prepare for many, many more grey hairs.
As for the authors, Trust Intelligence, I admit to using them when researching other investment trusts, but such one-sided writing is a joke!
"Sell side" marketing at its worst!
Looks like they are beginning to build up a profile of SUPP here.
https://www.trustintelligence.co.uk/investor/articles/fund-research-investor-schroder-uk-public-private-retail-oct-2022#summary
Check the support and resistance levels on the chart settings, go through the previous results, check the status of the quoted companies that they still have stakes in, and if you are happy with that you can average down at these low levels. However Sunak lied about fracking so don't be to hopeful. For all you know he's there to liquidate the UK and flog it to BlackRock like the Woodford fund was. You probably won't make a profit until he his gone , and maybe the Tory Party too. Only viable alternative that I see is Reform UK atm, so check them out.
Hello Sir
I need help. I am badly stuck in the share. I need advice. Should I buy at this price or only just hold what I have. My average price is £0.40p
Many thanks
Yup, the Schroder Juniors sold Kymab and a couple of others, soon after they took over management. They were desperate for liquidity.
Don't think there'll be much in the way of buy-backs, the Schroder Juniors have said they want to prioritise funding for follow-on investments/cash calls on their yet-to-be-profitable holdings.
They need some proper advisors, I think.
If I'm reading this right, they missed a big payday there.
"The clearest indication of what a company is worth is
ultimately what someone is prepared to pay to own it outright.
A recent example would be Kymab, which was a privatecompany held within
Schroder UK Public Private Trust (SUPP).
It develops monoclonal antibody therapeutics for use in
oncology and immune disorders amongst other indications;
technology that is transformative for medicine. It was recently
purchased outright by the global pharmaceutical company,
Sanofi, for up to $1.5bn ; which is a price per share 4x the level
of where it had been formally valued within SUPP."
Momentum Global Investment Management Ltd. +44.61m / +3,485.47% 45.89m
- Here's their South Africa n website: https://momentum.co.za/momentum/invest-and-save
The ex income NAV is 31.51 but the cum (with) income NAV is 31.21. How is it that by including income it reduces the NAV. This doesn’t make sense to me. Can anyone explain please?
Either way, the discount to NAV continues to be massive and so share buybacks should hopefully prove to be profitable in the long run.
As part of efforts to resolve its liquidity problems, the equity income fund sold a portfolio of unlisted assets which it held in common with the trust to the trust, in exchange for shares in the trust. Meaning the trust ended up with even more of the rubbish investments it already had, as the fund offloaded these. Of course in the end, as it wound up, the fund had to sell those shares.
No current news about SUPP pasa, except to note that the price is down 7% today - just 15.2p to sell, which I think is an all-time low.
Perhaps it'll come good one day, but this has been an awful investment for longer-term holders, with little to make one hopeful of a reversal.
You're right . Thanks for that. I think some capital made it's way from the fund to the trust, though.
Trusts are safer than funds because of the way they operate. You can still access the money, but are more subject to market fluctuations. Any news lately about this stock? How would Sunak affect this?