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The ON IPO can only improve sentiment in SUPP. ON will go to market in a world where medicals is a major focus for now and for the future.......... Covid has changed the game and the fundamentals.
Oxford Nanopore - 2nd largest holding in Schroder PPT portfolio - certainly good news regarding IPO and revaluation in NAV and share price will follow from current lows of last month or so.
This has remained in the doldrums recently despite the surge in interest ( and valuations ) in pharma over the last year, with a number of recent realisations largely above carry and reduction in leverage there should follow a re-evaluation of the portfolio here, and when this occurs we could see a material improvement in sentiment and therefore value.
One of biggest holdings Oxford Nanopore announce IPO. Should lift SP to 40p.
Nick Greenwood from Miton Global has taken a stake and sees upside after debt pile has beed reduced
see below from his Jan 31st commentary
"We started a holding in Schroder UK Public and Private Equity. This was once the Woodford Patient Capital Trust which had moved over to Schroders. We originally avoided this trust as the levels of debt were high, however, with the sale of their underlying holding Kymab to Sanofi for a premium the team were able to pay down a portion of the gearing, de-risking the portfolio and giving them more flexibility to make follow-on investments. We also met with the new management team and were reassured by their breadth of experience and the oversight which the trust now has."
And its Immunocore holding has got off to a flying start on the Nasdaqtoday - currently about 45 dollars, up from 26 dollars.
Up 47% since 1st Dec.
Very positive article today in ii says among other things that "here and now, SUPP shares still trade 35% below their NAV, potentially tempting bargain-hunters. Considering this month’s news, some brave souls may take the view that once could be good luck, twice might be a coincidence but three times is a trend."
I got in a couple of weeks ago. 50,000 at 28p. Hoping to top £1 in a few years. I must be patient!
The aquisition of Kymab by Sanofi is strongly positive, given SUPP involvement in the process. The extension of the debt facility, with a clear plan to reduce the debt, provides some stability. The combination of the 2 suggests more upward travel.
At last this is moving again, I expect to see at least 42p by spring. Still even then a long way to go before Schroders earn some fees, as I said before, they know what they are doing. A good time to open position or top up IMHO. I have 2 significant (for me) holdings showing big losses but intend to stay put rather than top up.
I still think despite these losses this trust helps me have a balanced portfolio, it will come right.
Introduction to Nanopore Sequencing:
https://www.youtube.com/watch?v=sv9fFeSd3kE
Oxford Nanopore version:
https://www.youtube.com/watch?v=RcP85JHLmnI
https://www.standard.co.uk/business/oxford-nanopore-technologies-neil-woodford-a4569476.html
Atom bank is quite a large holding at 11%.
Here's some recent news about it:
https://www.businessinsider.in/finance/app-only-bank-atom-just-launched-160heres-what-it-looks-like/slidelist/51712468.cms
Gets a mention here: http://www.digitaljournal.com/pr/4824582
Revenue Generating portfolio as of 30 June 2020
= 86%. At least that's a good sign.
"In July 2020, Rutherford announced the first partnership
under the Equitix Agreement with Somerset NHS Foundation
Trust whereby the Company will provide a dedicated facility
in Taunton. The Service Agreement is expected to commence
in the second half of 2021 for a 5-year minimum term,
extendable to 10 years, subject to the achievement of certain
service levels, and carries minimum revenue of
approximately GBP 1.9m per annum...In July 2020, Mission Therapeutics announced that it has
raised $15m (£12m) of equity investment in a funding round
led by existing investor Pfizer Ventures, the venture capital
arm of Pfizer. The new capital will support development of
Mission’s leading DUB platform, as well as growth of its
pipeline of DUB inhibitor programmes. Mission and Pfizer
Inc. also announced the expansion of their relationship by
entering into an evaluation and option agreement for DUB
target validation....This operational milestone marks a major step forward in the
company's goal to bring basalt fiber to North American
markets and produce on a commercially viable scale. Mafic
began construction of its $20 million facility, located 45 miles
from Charlotte, North Carolina, in 2016. The new facility is
expected to be capable of producing 6,000 metric tons of
basalt fiber annually, nearly 30 percent of the current global
output of basalt fiber. Mafic is looking to commercialise
basalt fibers for a wide array of industrial applications
because of their strength and ability to replace materials
susceptible to corrosion. The material has been used for
decades, but until now, it has been produced in limited
quantities. Mafic's goal is to bring the large-scale production
of basalt fiber to several markets, including the construction,
automotive, and thermal markets among others....In June 2020, Seedrs announced its partnership with equity
management platform, Capdesk. Thus, creating a unique
secondary liquidity offering, serving the needs of the wider
market with the ability to trade shares in private companies.
The Seedrs Secondary Market has been enhanced
significantly and grown quickly since its launch in 2017. In
May, the market surpassed £1m of shares traded in a month
for the first time, with Revolut share sales topping the list for
the most shares listed and sold. Now, companies outside the
Seedrs portfolio who use Capdesk for their cap table and
equity management systems will be able to access the
Seedrs Secondary Market. "...and so on. Interesting stuff.
Here's the link: https://data.fca.org.uk/artefacts/NSM/Portal/NI-000011925.pdf
The above posts were all written shortly before the NAV as at 31 March was published in June. The date of this most recent but now aged valuation happens to coincide with what turned out to be the very bottom of the crisis. Valuations of unquoted companies is highly subjective but the doom mongers may have been taking a lead from characters from Dads Army.
The SUPP price goes up and down and lack of information is frustrating. Stuck around 28p with probably an out of date discount of around 50%. My tea leaves suggest that the bad news is already in the price .. but I've been wrong before .
shouldn't we be a bit more up today as a result of the 15% holding in Oxford Nanopore.? It is the only reason I am still holding this woofer.
Seems to fluctuate round 24 to 30p, just need a big break out.
Oh, I've no doubt Schroders know what they're doing.
Trying to turn utter dogsh*t into just dogsh*t, imo.
Rutherford holding shown on HL as 18.47% of portfolio - their largest holding. Trust me, Schroders know what they are doing, in a previous life I was able to sample their quality operation first hand.
I see the LF equity (the old Woodford equity) fund has sold it's Rutherford holding, just months after being obliged to give the latter £15 mill.
Given that only 567 (not a misprint) out of 188 million shares had been traded, as of January just gone, I wonder how much they sold for?
Absolutely peanuts would be my guess.
That's obviously a total dog, imo.
Does anyone know how much of Rutherford SUPP holds?
It's slowly beginning to unravel, imo.
Massive discount to NAV. But.... the NAV hasn't changed for 4 months. No Covid 19 effect - no I don't believe this. Buy at your peril, be prepared for big shock later.
Further to previous. Good articles in both Times and Telegraph Saturday. Of course as a result of Schroders puff but also the update. Both articles are positive to me, trust of the week in the Telegraph is a good start.
Expect to see SP Rise on Monday/Tuesday even if it falls back again, some will see this as the low point and want in. This trust fills a gap in many portfolios, which is why it was popular when first listed. Yes, it will be years but to me this is the good news.