Susan Marmor

Ashmore Global Opportunities: another wind-down opportunity?

15 Feb 2013 @ 12:37
Ashmore Global Opportunities (AGOL) announced on 1st February 2013 that they are going into wind-down mode.  The latest Net Asset Value is given as £7.82 vs a share price of £5.75.   If all goes to plan that’s 36% in the bag for investors. The vote has still to be passed but assuming it is, AGOL […]
 

FOX Marble (FOX) restoration of licences in Kosovo

24 Jan 2013 @ 08:53
Fox Marble (LSE:FOX) believes it has a 16b euro resource of marble in Kosovo. They listed late last year and so far things haven’t gone smoothly but hopefully they are now back on track. In early December 2012 Fox Marble woke up to the news that 4/5 of their mining licences had been revoked. The […]
 

4 resource ideas for 2013

04 Jan 2013 @ 13:12
So far I’ve only written about income plays, now it’s time to have a look at the more risky side of my portfolio. Kyrso Resources (KYS) Kyrso has just over 5m oz of JORC compliant gold in Tajikistan.  After what seems like an eternity, and a few bumps along the way, they hope to get […]
 

Income from new dividend policy at F&C Private Equity Trust

03 Jan 2013 @ 10:29
2012 was an interesting year for F&C Private Equity Trust (FPEO). In May they announced a new dividend policy and in August they announced a fully diluted net asset value (NAV) of £2.53, a 4.5% rise for the half year and back to 2008 levels. The share price was up some 7% over the same […]
 

A Good Return from a Convertible, Cumulative, Redeemable Preference Share

19 Dec 2012 @ 10:11
Explaining the Balfour Beatty cumulative convertible redeemable preference (BBYB) share isn’t easy. If at the end of the article you still don’t have a clue, don’t worry, focus on the fact you can earn about 6% (after tax) on your money for the next 7 years. OK, here goes. The yield on this preference share […]
 

5.75% fixed income for 7 years, what are the risks?

17 Dec 2012 @ 13:26
Apha Plus Holdings own a bunch of private schools and they recently launched a 7 year bond with a fixed coupon of 5.75% (paid twice a year). The company is chaired by Sir John Ritblat (British Land) and is owned by a private equity property firm. The premise of the business is simple: provide excellence […]
 

Strategic change, another opportunity - Axa Property Trust (APT)

14 Dec 2012 @ 11:11
AXA Property Trust (APT) announced today that they are going to wind-down and return capital to shareholders.  At an estimated Net Asset Value (NAV)  per share of 58.55p, it is  trading at a 46.2% discount.  They could have been bought as low as 24.5p just a few weeks ago.   Monthly chart of APT. The […]
 

Is there money to be made from the baffling world of real estate credit?

12 Dec 2012 @ 09:09
  Conventional wisdom dictates that if you don’t understand something it’s better to stand aside. I had better get out of the stock market then! Real Estate Credit Investment PCC (RECI) is a company I really don’t understand. I think it buys asset backed property loans and bonds and then sells them at a profit. […]
 

A bit of sleuthing can be very profitable

10 Dec 2012 @ 13:07
Mithras Investment Trust announced today they are to return capital to shareholders and the share price has dutifully risen by 4.75%. Some healthy Director buying this year was followed by the appointment of Winterfloods as advisor and broker. Why does an established fund make a change….because change is afoot. The November interims were unspectacular, Net […]
 

Sell and Buy Back Bonanza!

30 Nov 2012 @ 18:05
It goes like this: you buy some shares and wait for the company to buy some of them back from you at a higher price.  You sell them your shares and then you buy them back a lower price.  The company then offers to buy some more of your shares and you do it all […]
 
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