The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
I started buying and holding late 80s earlier in the year ... average down to 71p including dividends ... way oversold post July ... will look to get average hold sub 70p then stick. 10% yield is happy days.
Looks to me as though someone has leaked tomorrow's inflation figures ....
"(using the official rate)" - Use the black market rate.
For the brave HFEL ... has taken a spanking with Far East woes ... but returns 12%.
Dartron …. Pension paid off? Put the mortgage money into a SIPP if not doing so already … and claw back some of those stealth taxes being paid.
Thanks for the tip.
HFEL has always been an "income fund" ... it follows that paying out a high yield gives limited opportunities for growth.
It's all very well pointing to the share price being down over the past 6 years, but equally, the share has returned 112p in dividends over the same time period ....
.... looks a buying opportunity to me ... and I've taken it.
Good luck holders.
“ Looking at similar investments in AAIF, JCGI etc gives me some comfort that’s it’s not just us‘
Quite … an argument I also made below.
Nothing to stop people trading this share …. I’ve done so last two years …. average including dividends is down to around 220p from 327p when I first bought in … so around 60p up from a buy and hold strategy.
If when USA/China sort out their differences share price rally will be back on the cards or if not and with Trump looking to inflict more damage if he gets in … plus other regional woes … the share price will fall further.
That’s the market …
"it might not be unreasonable to assume an average price from the starting point (301.5) to the finish (281.0). that average is 291.25, or 292.25"
The numbers are posted.
"The Company announces that it agreed on 28 July 2023 to allot 450,000 ordinary shares at 240.50p per share, each fully paid under its block listing facility. The net asset value per ordinary share as at the close of business on 28 July 2023 was 233.3p."
No need to guess. A bigger fund means fixed fund costs are spread across a broader base - that's the saving for investors. A bigger fund also means higher revenues for the fund's management in terms of fees - that's the gain for the fund managers.
It is unreasonable to "guess" when necessary information is available to avoid "guessing". It's also fundamentally dishonest to make a "guess" to support a flawed argument.
The current yield from HFEL is close to 12% .... similar yields can be found elsewhere ... GCP being one, in which the heavy discount from NAV is leading to management buying shares at a discount.
Investment trusts like HFEL should buy shares back when trading under water, and sell shares when trading at a premium.
I was referring to page 7 of
https://cdn.janushenderson.com/webdocs/Far+East+Annual+Report+Web+SECURED.pdf
Last paragraph. A year out of date, but recommended reading for some here. Let’s trust they take their time to digest the contents.
Ade2a did not use the word “inconsistent”, but I did.
Although stupid does indeed mean stupid and would be the “same” in more ways than one.
I suspect the dividend will be cut here looking at the change in holdings …. Australia is now the country with the largest HFEL holding from recent newsletters with China and especially Taiwan holdings reduced and comforting if not a no brainer.
But such is speculation for the future and nothing to do with the utter balderdash written by some of the posters here the past few days.
Difficult to value these asset manager businesses where I like back of matchbox calculations so decided to look at AuM to Equity ratio … where PMI works out around 10% less than Jupiter that itself has been a basket case given its takeover in 2019 with legacy issues.
My reading is a hedge fund shorting having just sold 350,000 or so shares to MMs today to pass on to retailers.
To the question why shorts are not listed … some of these funds short in tandem across branches. Seen it before.
Oversold in my view topped up more today.
Ip == up.
“Not the same statements while the latter may be true they do not have to pay dividends from earned income.
'Have a policy' is not the same as 'can'.”
Not the same doesn't mean “ inconsistent with” either.
So no point made.
Did you vote for Brexit: The above cruddy logic is one reason why the UK is in a mess and hedge funds are having a field “decade” with anything valued in £’s ….
… to paraphrase quotes thrown at the idiot Johnson … some people on this board have the “wrong skill set” for investing and should shut ip.
Bear market ... sell into every rally.
Back in for those sold.
Big trade gone through during the day.
HFEL sell has generally sold shares at a premium to NAV and bought additional stock with those shares. Fixed costs will of course be distributed across shareholders but the company itself takes a management fee as a percentage so revenues for directors etc increase.
As a benchmark, JCGI which is a pure China play is down from £8 a share to £2.23 in the past 2-3 years.
People that can’t play ups and downs should stick with deposit accounts.
Some people need to apply dome thought as well as reading below:
“ To your point on share issuance, we have increased the premium at which shares can be issued to ensure that existing shareholders benefit from the uplift of issuing new shares at a premium to net asset value. The increase in the size of the Company has the additional benefit of spreading the costs over a wider shareholder base. The proceeds derived from issuance are invested into existing shareholdings with a focus on companies that are about to trade ex-dividend to ensure that the revenue reserve is not diluted by new shareholders.”