Member Info for Mr.Flibbles

Together with a large trade for MERI, the results for Starling are out.
https://www.yourmoney.com/saving-banking/starling-bank-breaks-even-and-says-itll-be-first-challenger-to-turn-profit/

NAV is not a good indicator here because... .the last NAV report was done way back in Jul and public markets have moved on so the next report will be more relevant and a better indicator of not just NAV but growth going forward and broker upgrades (or downgrades) etc..

Maybe I need to research more I don't know for sure. Generally in fast-growing private markets fundraising happen with great regularity and the result is a NAV ahead of the previous NAV + cash. Private equity valuations are typically only done properly every 12 months (during COVID they had been adjusted). So by the time of the placing the NAV of last year is out of date. Granted by December the amount will be reevaluated anyway, but since there is a massive growth in public companies I thought Grahpcore and Starling could be in a for a greater rise than expected.

I am not sure GROW's share price should get too far ahead of NAV and the share buyback should help to control this.

Some of our share prices will be in the hands of Baillie Gifford as investors their buy and sell the funds. One of which here owns 2.6% allocation just for GROW:
https://www.bailliegifford.com/en/uk/individual-investors/literature-library/funds/oeics/icvc-long-form-annual-interim-reports/baillie-gifford-uk-balanced-funds-icvc-annual-report-january-2020/

https://mobilemarketingmagazine.com/rita-ora-ee-augmented-reality-ar-iphone-12-pro

"it is worth reiterating that realisations that are achieved within the SVV portfolio result in cash distributions to the Company and are not retained within the fund." - does this mean that SVV are self liquidating or that PIRI would need to find the money for future commitments? This is why the warrants are in place for both commitments and administrative costs?

Hi DireEmblem, In private equity and that of high growth companies fundraising is always done at a higher price than paid and the dilution effect here against the market cap (just under 2 billion) is minimal. The net effect is a rise in NAV. One example is to look at is TransferWise where the premium prices paid far exceeds that of the dilution.

British AI chip start-up Graphcore close to adding another $200 million in funding
https://www.computing.co.uk/news/4022936/british-ai-chip-start-graphcore-close-adding-usd200-million-funding

DireEmblem I emailed Jupiter/MERI but they simply said factsheets are updated quarterly and did not acknowledge the lateness.

Starling/Transferwise exposure is great but Graphcore is also doing another fundraising so that will add to the NAV. I believe the NAV is like a coiled spring and we have about 20% gain for Christmas. The US markets will rise and there will be a lag for us to buy more MERI from any profits here and the US will then help NAV reports. This is the best tech trust outside the US market

https://www.bloomberg.com/news/articles/2020-11-06/u-k-s-graphcore-said-to-raise-funds-at-over-2-billion-value

I presume MERI would be part of this...
https://techcrunch.com/2020/11/06/starling-fund-raising/

Half a million sold at 133p yesterday yet they want to charge me 139p to buy. That's not a fair price. Someone large must be accumulating for less than I can buy.

...my US politics is not great. While Biden is better for Europe, he's not great for the UK! I don't think this will matter too much as GROW's earnings are international.

I have had time to take a look. It a mix of reasons. Some profit-taking. Some because Biden is bad for the UK. Some because listed private equity is often volatile at times of uncertainty. This is all factored in.

Hundreds of thousands of pounds being sold off at now well under NAV at 133.00p and screaming a buy. I have topped up aa little closer to NAV.

I maybe chatting shiiite but thats a valid observation, because you have to understand that PIRI is essentially like Trust of holdings that should be easy to understand. Without this you will never get the liquidity/volume for this to ever be more than a trading stock.

jamesbond0071977, how would turn around the inadequacy?

Nice broker target and a nice cheeky buy for Steph yesterday! Let's hope for a Biden win to further strengthen European tech stocks.

jamesbond0071977 don't start this again. I thought you knew everything about the AA.

The market has cooled off. Nothing goes up in a straight line. The next NAV update and post US election should see a change for the better.

Refinance is not an option the AA will take when they can pay the next round of financing by selling an asset. This is not likely going to happen. We should get an outcome in the days or week(s) ahead. Hang in there jamesbond0071977, don't panic.