Member Info for gilesfitzh

Plenty of sellers still. I guess if your game is to take 10% whenever you can then OK but the potential rewards here are so good that it makes no sense. Only 2 million more shares bought than sold - that's less than £40k. MMs must love it when the churn picks up as it's been thin times for them recently. 12 million shares traded so far so we may actually see a good day, which is 25million+ shares traded. Roll on properly busy days of 50million+ :)

GS/DS have previously stated that their target is a Market Cap of $100million that equates to an sp of 31p.
People keep saying that there is little 'free float' in ALGW, I have to disagree. I know where 36.5% of the shares are held, this includes 8 people in here who have disclosed their holdings, the 3 TR-1 holders, the Company Directors and the Khans (friends if GS) who invested right at the start. Even if there are another 8 'sticky' holders with 2.99% each that's only 50% of the total shares in issue.
There will be plenty of sellers all the way to 31p.
Personally, when the sp gets to near 11p I'll be showing a £1million profit which is a nice round number :)

ALGW's year end is August 31st. Usually companies have 3 months to publish though GS is usually a month late even in ordinary years but I'd guess the accounts might be done and someone has seen them.

NT to buy? I have never seen this but then I use an internet only broker not a bank :) Bots - if you have the money to invest a couple of million $ in BOAGF you could buy ALGW :) I suppose someone who works for whoever is investing might buy shares though this could surely be viewed as insider trading.

Not happy to wait but then I'm not happy with the whole **** show that is 2020. I am however patient and am sure that ALGW will come good as the basics have not changed. ALGW's BOAGF (and other offerings) still make sense - 10%+ annualised returns in a non-correlated market - what's not to like?

Bear in mind that we don't know how/where the recently announced new AUM is 'invested'.

0.75% of total AUM plus 10% of anything over 7% performance of the BOAG fund.

All well here thanks :) Good update, should continue to add AUM regularly but I expect the amounts to be relatively small ($2m at a time) as rich people and large organisations worry most about the risk of losing money hence the usual guide of not investing more than 10% of any fund. IMO patience will be needed for at least the next 12 months by which time ALGW should be at break-even with $100m AUM. At that point UHNW and institutions can invest in blocks of $10m and things should motor. I'm still confident that ALGW will get there but Covid has seriously screwed up the timescale.

AFAIK there are only 3 TR-1 holders and they have about 20% of ALGW's shares. Add in the BoD (15.2m) along with GS's good friends and long term holders Max and Aisha Khan (14.5m) and the shares held by all the above come to less than 32%.
Let's say there are 3 holders just under the 3% (total 21m) and a dozen with 3m each. Even then the total 'sticky' shares is only 133m or 55% of the issued share capital so there are plenty in 'free float'.
If anyone wants to add their name and shareholding to the 'sticky' list feel free to do so :)

Fantasticdave: Member since ... yesterday. LOL FYI the share trades, coloured by the LSE and others, are done by comparing them to the mid price of the Bid and Offer prices shown above. Problem with that is that those are completely inaccurate. If you want to know if trades are buys or sells you have to put in a little effort and get actual quotes from the MMs from time to time throughout the day. Only then can you get a reasonable idea of whether a trade was a buy or a sell.

nearly 5 million shares bought now, 1.975 paid

Happy to see this finally moving, over 3 million shares bought so far this morning (116k sold) and 1.80 paid. Question is why now?

Bear in mind that those 'top shareholders' that have 'nominees' in their name are brokers and their 'holding' will be made up of many PIs who may or may not be 'sticky holders'.
I raised the question of insiders with GS some months back and I was told that ALGW were not looking to bring anyone 'inside'. There are, of course, downsides to being an insider.
I think it said in the prospectus that only clients of Pello could participate in the issue so I assume that those 6 listed are Pello clients and I suppose it's possible that ALGW was brought to Mr Ward's notice by them some months back. I believe that Andrew Dennan (ex director) was close to Pello. I don't know if this is still the case, but if he is then, IMO, it's not a good thing.
GS has failed to reply to my last two emails (asking why he felt it necessary to offer Pello a considerable discount when his Proactive interview inferred that they approached him and were keen to buy into ALGW and asking about the deals reported by Graham Holiday though I didn't mention his name) and I have sent him another today asking questions about Max Khan and Alpha Management (Ireland)'s shareholdings. I will have to email him my new TR-1 (diluted to 4.5%) on the 9th and, if he hasn't responded, will repeat my questions in that email also as I will know if he receives and reads it.

Figures are not entirely accurate.
Number of Ordinary Shares % of voting rights
M B Alder 8,484,026 3.52
Vidacos Nominees 9,041,899 3.75
Mr GP and Mrs AC Fitzherbert 10,110,000 4.20
Interactive Investor Services Nominees Ltd (SMKTISAS) 10,720,700 4.45
Barclays Direct Investing Nominees Limited 11,236,280 4.67
HSDL Nominees Limited 11,268,418 4.70
Hargraves Lansdown (Nominees Limited) (VRA) 11,745,525 4.88
Lawshare Nominees Limited 14,908,674 6.19
Rene Nominees (IOM) Limited 15,725,000 6.53
Mark Ward 23,946,686 9.94
Hargraves Lansdown (Nominees Limited) (HLNOM) 25,874,528 10.74
Hargraves Lansdown (Nominees Limited) (15942) 26,966,905 11.2

The following persons are acquiring more than five per cent. of the Placing Shares:

Number of Placing Shares
Ryan Collins 6,571,429
Ryan Orton 3,214,286
Hayden Rushton 2,857,143
Ash Sudera 2,142,857
Arden Partners Limited 2,142,857
Mark Ward 7,142,857

The quoted management fee on the Black Oak Alpha growth fund is shared with SL Investment Management, ALGW's share is 0.75% plus 10% of anything over a 7% return. Fees for all the other offerings have not been disclosed but I would think that these might well be discounted to get the first few chunks of AUM signed off. ALGW have both SLIM and Rajiv Rebello handling the actuarial side of things and, given their many years of experience in the field of Life settlements, we should be safe enough with their figures. I'm not sure of the precise mechanics of buying U.S. Life Settlement policies but the number available is not the problem, the valuation given to the policy holder might be as there is increasing competition though this is still a very new market and millions of $ worth of policies are still allowed to lapse rather than be sold into the secondary market as many people still do not know and are not told by their insurers that such a thing is possible.
GS once said that $100 million AUM would see ALGW break even but he was using the fee figures for BOAGF so we might need more if the fee structure is thinner on the new products and overheads have increased since then.

@Rambo23. No and no.

Seems it is time to re-post this. Before you buy or sell a share go to the 'fundamentals' and find out what the 'market size' for trades is. For ALGW it is 100,000 shares. Then 'phone your broker and ask for a quote to buy/sell the market size. If this is not the size you actually wish to buy/sell then ask for a quote for the quantity you want to buy/sell. Is the price different? Is the difference more than £10 (or whatever your broker charges for a trade)? If it is but you can't buy more or that is all you have to sell then you'll have to 'suck it up' BUT if you're wanting, say, 2x the market size then do 2 trades. You will save money unlike whoever sold 500, 000 shares at 09:44:52 this morning who got ripped off at 1.43 when he/she could have done 2 trades of 250,000 shares at 1.50. That's £350 handed over to the market makers unnecessarily, it's hard enough to make money as it is so don't be dumb.

I like the title of your post Bots, made me smile :)

SLIM's BlackOak Fund, started in 2014, is not the same as the jointly managed fund (Alpha Growth plc and SLIM) which is called Black Oak Alpha Growth Fund and started in April 2019.
They are both backed by the same class of investment, US life policies, but you shouldn't confuse the two or imagine that they are the same thing. Last year's return on the BOAG Fund was a very creditable 10%.

I was hoping that you had found evidence of the use of the £164k raised on 17/12/2019 for "support of accelerating the fund's marketing efforts". However the third in your list has Rory Heier as Finance Director which position he 'resigned' from in March 2019. Do you have any idea when those ads were first live?