Member Info for ade2a

Guitarsolo,

Transparency of what everyone is hell bent on knowing what I own sold or did not sell or said about wat I own. And you want to get me banned for being a fascist or something.

This is your agender.

What does this have to do with various metrics and management of the fund?

Mr Guitarsolo

Accusing me of lying again.

You accuse me of not being able to count, lying, not happy I have sold HFEL, don't care I have sold HFEL.

Me thinks you are the one with the agenda.

Mr Guitarsolo

What is your percentage holding everyone is unhappy that I sold and want to be transparent but do not quote their own holdings. I had the same discussion with LTI.

Yes sold down and you did not post the rest of that chat.

You seem to be unhappy that I have sold but do not care if I sell.

What about all the stuff with your friend LTI constantly badgering me about my 1.4% holding. Slightly less now.

You're unhappy that I sold are you now unhappy that I hold.

Mr Guitarsolo

Never said I was not a Shareholder you asked and seem unhappy my holding was small.

Other stuff I did not understand.

12% yield. Contrary to the opinion of some I am supporter of this company and want it to succeed.

To those of you who may be more heavily invested than me I suggest the dividend and estimation of the dividend amount is now paramount.

I cannot really say anymore about dividend expectations until the second half of next year when the income is earned.

For those who are undecided I would recommend Actuary03's posts.

i invested 30 years ago which i am sure you know.

there was no dividend washing then the fund was run by michael watt who was one of the best regarded far east fund managers around, the current manager was his deputy. i know you know this but there are newer members/shareholders now.

"ps lse did some sort of reset and removed all those i had blocked. it's a right pain as it was an eclectic mix of right wing fascists, rascists/ xenophobes, covid conspiracy theorists, general w******s and the disingenous (where you fell)"

mr guitarsolo what is this?

i never spotted any fascist comments ,mention of covid,, ****** or zenophobic comments on this board and you know how i constantly mention the boards hostility.

it seems you want to remove any comments you do not like for your own personal reasons.

1.4% of assets makes me a shareholder people.

I am a shareholder you all asked me to sell I sold some and now you are not happy. I thought you banned me Guitarsolo.

I have not mentioned the dividend washing for a while now.

I don't think it matters much now there is now a 12% yield. If the dividend is maintained or even increased as the Managers aim to do HFEL will be a very profitable investment.

We should all be concerned with the maintenance of the dividend.

Do you now want me to buy?

Jamesmaggs Longtimeinestor and Guitarsolo made me do it. They asked me to sell. Do you know want me to buy?

Oct 2022

As at close of business on 26 October 2022, the unaudited net asset value per share, calculated in accordance with the AIC formula (including current financial year revenue items), was 245.0p.

As at close of business on 26 October 2022, the unaudited net asset value per share (excluding current financial year revenue items) was 236.9p. Earnings were 8.1p.

Oct 2023

As at close of business on 25 October 2023, the unaudited net asset value per share, calculated in accordance with the AIC formula (including current financial year revenue items), was 216.8p.

As at close of business on 25 October 2023, the unaudited net asset value per share (excluding current financial year revenue items) was 213.1p. Earnings are 3.7p

It is possible that there is a change in the dates the dividends are received and this has some contribution to the weaker earnings. I will not count on that.

It is likely HFEL will not cut the dividend until they have to and they still have somewhat substantial reserves.

The earnings did not exceed any of the dividend at next xd date in January. We will need to compare the pre xd earnings in April about 1.9p to assess the earnings base further.

Contact address

IFC1, The Esplanade, St Helier, Jersey, United Kingdom

Phone: +44 (0) 1534 813800

The RNS link shows the NAV with and without revenue.

"As at close of business on 14 September 2023, the unaudited net asset value per share, calculated in accordance with the AIC formula (including current financial year revenue items), was 225.8p.

As at close of business on 14 September 2023, the unaudited net asset value per share (excluding current financial year revenue items) was 222.1p."

Earnings are currently 3.7p by the time of the xd date the earnings usually exceeds the November dividend currently 6.1p.

MrTC

"WTF are the directors doing?"

This seems to be the real failure here. It is not unusual for Managers to be replaced or poorer performing Investment Trusts to be taken over. I guess only the Directors themselves can answer that question.

Their job is to look after shareholders interest. All we can do is sell or post messages on notice boards.

Bott

You write as though the rest of us do not have an understanding of capitalisation, NAV and asset values etc. This I think is not correct there is nothing in any response to your post that disagrees with what asset value or NAV or capitalisation is.

You have a unique view of issuance of new shares which has value but the view of the other respondents also has value.

Do you now think I do not understand your POV?

For those who may wonder roughly 122.84 million shares in issue 2018, 163.7 million shares in issue today about a 33% increase that is in line with LTI's memorised number.

Bott

I do see a problem here as HFEL is obliged to pay dividends on new as well as older shares which may incentivise the company to invest as soon as possible.

Bott

You have a point.

Assets that have been bought have indeed mostly declined we know this because in 2018 Capitalisation £438.2m (from annual report 2018), Capitalisation today £361.83m despite the issuance of new shares.

https://cdn.janushenderson.com/webdocs/HFELAnnualReport2018.pdf

The 2018 final report.

Bott have I understood you correctly?

The coming abuse from LTI et al is worth it for that little nugget.

LTI

HFEL ??

BS and more BS