Member Info for SD235

Just checked £100.50.
No money for a while otherwise I might have bought more.

Profit increase looks quite impressive. I afraid I haven't bought as the 12% 2027 bonds were just to tasty.
May still be possible to get them close to par due to the market volatility.

"The strong realised dividend for Q3 was supported by exceptional cash generation activity driven by a supportive market environment for the Company's 100% floating rate portfolio and a robust list of attractive realisations. This meant actual net revenue profit for the quarter comprised $1.8 million or 2.0 cents per share"

This is the sort of company in the debt direct lending sector which will capture increases in base rates near enough immediately. Interest rates have a bit further to rise but the odds on them dropping back to the unnatural rates of the past would appear highly unlikely.

Canetoad
PS who is your stockbroker?
Thanks

Canetoad
I was asking this elsewhere "Anyone able to tell me if you pay income tax (PID) IF you have your REIT in an ISA??"
So I can take it the answer no. Thanks

Anyone able to tell me if you pay income tax (PID) IF you have your REIT in an ISA??

Oops you already spotted epic.

Pity

PS not shareholders anymore. Sold to move money into drawdown

Possible but unlikely as Edison is unhappy with its persistent discount. On the otherhand it's an excellent fit.
https://quoteddata.com/2023/03/ediston-property-considers-future/?utm_medium=email&utm_campaign=News+weekly+email+148th+-+Ret&utm_content=News+weekly+email+148th+-+Ret+CID_ecf271c4b43f0b91929e39e18808347b&utm_source=Research+note&utm_term=Ediston+Property+considers+future&=1

Clearly not the bottom added today at 5.5% down.
Hoping for a rerating.....soon!
I would not be surprised if it took a year to cut its discount to say 15%.
A good return if it does.

Bought again today 77p

"I still hold a large amount of Georgia capital in my sipp"
Not anymore cought by a stop loss.

Sageoflondon
"Most insurers have not done that"
None have done so. None have needed to.

PS bought a few at 231 today

See RNS 4th October reference below

Tuesday 4th of rns
Update on LGIM's UK LDI business

Recent extraordinary increases in interest rates, and the unprecedented speed of those increases, have caused challenges for the pension fund clients and counterparties of LGIM's UK LDI (Liability Driven Investment) business.

The Bank of England announced last Wednesday its intention, in line with its financial stability objectives, to carry out purchases of long dated gilts in a temporary and targeted way to restore orderly market conditions. Interest rates have reduced as a result.

These steps have helped to alleviate the pressure on our clients. We are continuing to work closely with them to achieve appropriate hedging levels in their portfolios. LGIM acts as an agent between our LDI clients and market counterparties and therefore has no balance sheet exposure.

Legal and general do not hedge their bonds. They had £900 million due to COVID. No effect at all on legal and general because it was a paper loss. Legal and general never sell bonds they always hold them to maturity.
In fact at this point in time annuity providers are actually taking money out of the annuities pool. Actuaries have decided life expectancies are not rising at the rate expected hence there is an excess
This year legal and general took out £300 million.
The only way legal and general can be effected is by defaults. They had none post COVID.

Just bought at 79p. A product of decent day volatility. Very good price. But need to stop buying.

Big falls in my holdings of 3i and HG capital. A lot less in NBPE and in Oakley capital. The latter being a possible future purchase.
I think HG will be my preference for taking advantage of the present fall.