Firering Strategic Minerals: From explorer to producer. Watch the video here.
To generate an attractive total return for shareholders consisting of dividend income and capital growth through investments in specialty lending opportunities.
Find out MoreLondon 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.
Probably help if you read the proposal for regular phased redemptions
PS one of the few in the debt sectors that will capture interest rate rises almost instantly as all there loans are floating rate.
Something in the middle?
18% discount and falling...slowly. an exit at nav would soon see the company disappear up its own ****. The company even trading at nav would still give a decent dividend.
I am happy to hold onto this just for dividend.
I’m not sure the suggestion was to liquidate rather find a way to reduce discount. I thought the suggestion was to allow an exit at NAV? The simple fact is something in the middle would suit most
I wouldn't vote windup and there is a lot of institute in here. Would they want a short sighted windup (my opinion ). They are trying to get more retail investors involved as that would raise the share price?
I need this share as the dividend is streamed interest. No tax to pay if you are not using up your £5,000 savings tax allowance.
If the fund is liquidated, then around 108p would be returned to shareholders if the assets are sold at current levels. The gap between share price and nav is too wide so a 9p div is more likely than winding up.
I am guessing a dividend increase to 9p?
The income increase is significant.
I can't see any reason why anyone would want to change the strategy. Particularly the retail investors?
Opinions?
From AIC clicked on research on the vpc page.
https://www.theaic.co.uk/aic/news/citywire-news/were-not-p2p-10-yielding-loan-fund-says-investors-shouldnt-be-scared
From rns today "The average interest rate on the portfolio is 13.3%, up from 10.5% in December 2021."
On the above basis I am in no hurry to vote for a change in strategy!
As an aside I read somewhere they needed 10% to call a meeting?
Very clever ploy to make the traders think before they sell on ex-dividend day ?
This follows a suggestion made a while back by the holding funds with suggestions to reduce the discount - they can call the meeting as they collectively hold more than 5% of the shares
See RNS.
Opinions greatly received from those who come across this before.
It was slipped by a month back in June I think for accounting adjustment that needed to be made
Nice 10% dividend, shame they can't get the date period right in the rns
Over 5 years up 10% and 9.5% dividend.
Not much more you can ask for from an investment trust in the debt-direct or any of the debt sector.
Still a big discount.
And for me one other advantage it pays dividends as streamed interest. Covered by the starter savings tax allowance (upto £5,000) and I assume the £1,000 savings tax allowance.
Anyone know of another investment trust that pays dividends as interest?
This is going to be useful next year when they reduce dividend tax allowance, very useful.
Just noticed spread is 0.8% today.
I was wondering what caused all the fun today. Good to see.
although they quote the wrong ticker (VPC):
https://www.msn.com/en-gb/money/other/rishi-sunak-will-help-this-fund-s-returns-and-it-s-on-offer-at-a-bargain-price/ar-AA13qjAw?ocid=msedgntp&cvid=fd8639def73f43968e3d701d304f741c
May explain today's rise.
I have fault 3.9% spread
Certainly not a trading spread.
I've got both and HFEL feels seriously risky now given Asia tension, the strong dollar and higher interest rates.
Not a great way to compare.
Henderson far East. Trading on a 3.4% premium. 9.1% dividend.
Share price gain negative over every period of time. Down 33% over 5 years.
VPC trading on 27.5% discount. 10.5% dividend.
Minimal share price loss over 5 years 1.79% to be exact.
It's difficult to find fault with vpc.
I will keep looking!
Agricore
Chrysalis the NAV are falling. At some point they will stop falling as will the share price. I don't believe that will be anytime soon.
Instead I have gone for private equity investment trusts. There appears to be a "read across" from growth capital. Despite the majority of companies owned by private equity being profitable from the start.
3i group on 20% discount normally on 20% plus premium and the king of dultech Hg capital also being on 20% discount as opposed to being in and out of a premium. Bargains galore in private equity.
Agricole
"Re VPC's discount, share price drops on holdings like VPC are partly down to the relative yield now achieved from "risk free" (!) gilts. Since this is purportedly higher risk it needs a correspondingly higher yield to compensate holders. Ergo, high yielding shares are behaving like bonds - and that's why this trades on a discount to NAV, in my opinion."
I can only partly agree with the fall being the rise in bond yeilds.
First the price is falling in line with NAV. But according to vpc that's due to the fall in the value of the unlisted shares they own in the fintechs.
I also struggle to believe that people who invest in vpc care to much about the rise in gilt yields. They will have to rise much further before they do.
As I am with freetrade I am bit by bit selling out of Sequoia Infrastructure and buying vpc.
Annoyingly it's not going well I haven't got an average 10% yield yet!
I constantly look at vpc and just appears not to be as risky as the phrase surprise suugests. The fintechs taking first loss and the short duration loans, all points to lower risk than that phrase subprime suggests.
SD, That's not true for the Transferwise component of CHRY. That's more than doubled from around £3 to over £7 over the past couple of months. Once you strip out cash and listed holdings the discount is actually far higher than 60%.
Re VPC's discount, share price drops on holdings like VPC are partly down to the relative yield now achieved from "risk free" (!) gilts. Since this is purportedly higher risk it needs a correspondingly higher yield to compensate holders. Ergo, high yielding shares are behaving like bonds - and that's why this trades on a discount to NAV, in my opinion.
GLA