RE: What do we want27 Aug 2023 02:00
Mr Guitarsolo
You accuse me of not being able to count and lying.
'However, you have not put up evidence to show this other than drawing conclusions from the falling NAV.'
When I first started commenting in 2021 the share price was 350 there was not so much capital destruction at this time. As you clearly know my views have not changed in the last 2.5 to 3 years. And before in fact I was just not posting it this time.
I have made about 50 posts in 2021 explaining dividend washing and its effect on capital values you can check those posts if you want. Or not.
"Also Ade2a, we both sat on the same investor presentation by Mike Kerley but you did not seek to challenge him about this."
I am an autonomous human free to challenge or not.
I did offer to chat to you in private what more do you want.
I answered many of your posts as to why I did not challenge you accused me of lying in not so many words. That's fine what do you want me to say.
I am as sensitive as this discussion board is hostile I make no apologies for that.
In the good old days when Gerry was posting he followed a holding of Rio Tinto from the monthly report which shows the top 10 holdings. His evidence showed Rio was indeed bought cum d and sold xd. He and I were chatting at that time unequivocal evidence of management style. You might have been observing at time in 2021.
Anyone can check the top ten holdings month to month. Older reports used to quote the fund turnover usually around 100%.
Mr Guitarsolo
Why would an Income fund need to sell all its holdings and replace those holdings in the space of 1 year?
"The Company seeks to provide shareholders with a growing total annual dividend per share, as well as capital appreciation,"
Yes.
"I know Damien Moore rightly bemoans the lack of transparency by investment managers) about what he is investing our money in, why those NAVs are continually falling, and what is the income to sustain the dividend."
Yes but why I had a discussion on this point is that no one is a better custodian of your money than you. If you expect the Managers of HFEL to do it for you I fear you will be sorely disappointed. You are arguing that they are morally obliged but they will never do it.
In fact they are becoming less transparent. Previously they admitted to be 'dividend aware' and they used to quote fund turnover. Now these two issues are not mentioned in any report or comment that I am aware of.
Mr Guitarsolo
Have you checked total return performance against SOI and AAIF?
"We need a raft of information about purchases/sales to show a solid pattern of deliberately buying cum-dividend and selling ex-dividend. I don't think that detail is published by HFEL."
A little effort is required to find it as mentioned earlier. Not blow by blow that will never be available but sufficient to determine how the fund is managed.
The stated objective please! A growing annual dividend and (at least some) capital ap
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