Member Info for Etotheipi

Having been watching JPMorgan managing the premium buy issuing shares almost everyday for 9 months, I hope they start managing the discount by buying shares if needed. I'm guessing the fall in the NAV is due to the Chinese government imposing stricter capital requirements for lending maybe hitting Alibaba's profits. I still think the case for the longterm outperformance of China remains.

I listen to a podcast about investment trusts called money makers, a while ago the presenter mentioned that PHI ran out treasury shares so couldn't control the share price (premium/discount) as JCGI do, even though they wanted to. They then had to organise an EGM to get shareholder approval to create a large quantity of treasury shares to bring the share price closer to the NAV over time. My guess is that the gap will close so JCGI is a better bet for now.

https://www.trustintelligence.co.uk/investor/articles/fund-research-investor-blackrock-world-mining-retail-feb-2021

https://www.trustintelligence.co.uk/investor/articles/fund-research-investor-jpmorgan-china-growth-income-retail-feb-2021

The monthly update makes interesting reading, it's a short term blip. Once they're clear of covid restrictions, tourism and foreign direct investment will increase, I suspect the price will rocket.

I'm a little bit confused by the share dilution talk. So a company raises capital but offering a share issue, maybe at a discount to the current (volatile) share price to attract new investors, the proceeds of which increase the value of the company. This additional capital is then used to further increase the capital of the company. Existing shareholders can either take part in the issue or buy more the next day when the price normally dips to the offer level. It's just part of the share owning process, don't forget the reason the company has listed in the first place is to raise capital.

Agree, long term hold, the discount makes no sense.

60% gearing is a concern, as is 1 year: -12.5% but 3 year 142.5% is sector leading (AIC). Z shares look interesting, certainly worth a look. A bit cautious having been burnt by TGS reducing dividend for no valid reason.

If there is something afoot but not public and the share price goes up that'll be insider trading. Probably just random increase due to day traders and autotrading, probably revert to mean tomorrow. One for the longterm.

Reviewed this holding sold for two main reasons:
1) 4 out of 5 of the other trusts held by the directors, where public information is available, are poorly performing.
2) The fund manager holds no shares.

Announced on 4th November, 1:10, still not reflected in charts. LSE should consider switching data provider, HL have made the adjustment.

Don't forget the spread, more like 1.05 to 1.25, still not bad if bought at 1.05.

1 to 10 share split. Standard stuff.

1 to 10 share split, platforms and lse.co.uk haven't caught up yet.

yet no comments. Crazy. China is predicted to have a 10% GDP growth in 2021, probably the only major economy to have positive GDP growth next year due to being practically COVID19 free. Only 2 other IT competitors and one of those is 35% Japan (Baillie Gifford). It looks like the FM positioned for the trade war with the US which turned out to be the right strategy for COVID19. The only downside is the lack of skin in the game from the directors.

And there's me thinking today's 4.85% sp increase was because of my BB post!

Interesting comment by Jason Baggaley, Fund Manager of Standard Life Investments Property Income Trust here: https://www.theaic.co.uk/aic/news/press-releases/what%E2%80%99s-the-future-for-commercial-property "Over 85% of rent owed to us has been paid. " Makes Regional's 95.7% look outstanding.

Interesting but shame only 88 views, how did you hear about this bertoforreal?

I think the price rise was just due to lots of news articles about Lithium (I think someone else mentioned this), maybe this lead to more interest, the sp starts rising then the technical traders start buying so do the algorithms. SP takes a life of its own, time to take profits, sp starts falling techs and algos start selling, time to top up and wait for sp to rise for real reasons.

I can see that there's going to be problems with the retail properties but these look to be a small part of the portfolio. Industrial should be safe, so that leaves the bulk, offices. The interesting thing is how many companies will move towards homeworking. There's a lot to be said for people working together in person, so I'm not convinced there'll be a wholesale move out of office space. Given the the social distancing requirements, it could even be said that there's need for more office space.

I didn't spot the 21% reduction in dividend, so I guess the accountants are expecting an equivalent loss of revenue this financial year. Maybe, a 21% discount should be closer to the mark.