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Https://giftarticle.ft.com/giftarticle/actions/redeem/ec1fbb1b-161b-4513-aed1-53104240f6bd

Https://open.spotify.com/episode/5mncffMzmJJI86lgKPPM1S?si=BumPO1_uQ2y_SSdi7V5PVQ&t=551&ct=521

Be interesting to see how effective this mix is for this particular shock

Tomorrow’s nav should move up given the market protection mechanisms. Ruffer can of course trade at a premium for prolonged periods and we look about due for one…. I suspect Ruffer may need to up the inflation protection in the current portfolio but well covered for market shocks

Ruffer may be a bit boring, but aside from a couple years generally grows in any market and on days like today you rest easy, and at times benefit nicely.

I’d say £4 looks reasonable short term target. expecting 2026 dividend at 21p to 22p.

Berenberg has these at 4.09.

Expect a flurry of upgrades as the outlook statement is digested.

Https://www.hammerson.com/sites/hammerson-corp/files/2026-02/Hammerson_FY25_Presentation_24.02.26.pdf

Seem to be seeing small cap green shoots….

The bad news kitchen sinked, good time to up the message while announcing the strategic review findings. Good time to follow a directors buy?

Interesting to see Schroders being bought up. Lots bargains in the FTSE 100/250 at the moment. HICL/INPP being two such.

A 5% discount to NAV in an exciting market….. seems like a good buy

Couple weeks before results, which I am expecting to be solid with a decent dividend. A strong buy from the incoming CEO…. Looks like we are bouncing off some technical averages right now. So with the FY dividend and guidance to likely nudge the forward dividend well over 5%. I’m certainly happy adding on any blips like now

Ultimately the likes of HFG will be under pressure to mitigate inflation so the end customer feels as little as possible and volumes remain as in tact as possible. Those volumes seem pretty healthy and with growth on the horizon. The review that is in place will never prevent all future challenges but you’d expect learns. What doesn’t kill you makes you stronger as the saying goes. This business is far from dead, suffering a bit of flu. Mark Allen was rubbing his hands. The likes of JPM taking shorts was just clever trading. I expect they’ll pass on their shares to a suitor who’ll happily be taking a stake now. I followed Mark Allen in.

Indeed. A more reliable (of recent years) dividend growth at INPP than HICL is I’m sure much the reason that HICL is at an attention grabbing 24% discount to nav….. which has grabbed the attention of Schroders and their funds. Very happy holding both funds with their strong yields and diversified inflation linked portfolios. The TRIG episode has done damage to HICL reputation short term I’m sure.

A HICL and INPP merger to a ftse 100 would be an interesting synergy.

Indeed Blackfriars, HICL also seeming to pick up a few. I think both funds are undervalued....

Indeed Blackfriars, HICL also seeming to pick up a few. I think both funds are undervalued....

Thanks for posting. 3i have long been the darling infrastructure fund, but concentrated on a much smaller set of assets. Clearly this news has hurt them.

It would seem to be great value. A strategic wobble but a sound business with assets and good customer base. Mark Allen’s purchase a good vote. With the likes of JPM taking shorts a few days prior to the trading update, I suspect they had a nod and knew the sp could be moved down a nudge. It looks a good bargain at this level.

Agree totally. Looks oversold now today. A lovely chunk of revenue stream for a competitor to snaffle up for six quid.