Alternative Asset Opps Pcc Share Discussion Threads

[langland] 12/12/2017 12:01

I had a notification from Hargreaves L to say they had credited my account. Also had funds credited with another broker yesterday.

[westcountryboy] 12/12/2017 11:25

thanks - could you please post a link to the announcement as I can't find it...

[langland] 12/12/2017 10:49

Final distribution of 2.63p per share. Not a bad result in the end.

[westcountryboy] 24/10/2017 14:23

Over five months on... but it was reassuring to be reminded of the detail in Briley's post above. News by the end of the year would be good...

[cockerhoop] 16/5/2017 13:45

Thanks Briley - appreciated

[brileyloucan] 16/5/2017 13:39

In case anyone following, received the following from the administrators:

We are still awaiting tax clearance from HM Revenue & Customs confirming that all tax matters have been finalised and the liquidation can be closed.

Once we have received this we will update shareholders with the timing of the second distribution but we do not expect to receive clearance for a number of months.


BL

[westcountryboy] 12/1/2017 20:40

And selftrade.

[cockerhoop] 12/1/2017 16:10

Idealing have finally coughed up today!

[wexboy] 12/1/2017 15:40

Final NAV is now 2.3p per share.

Should be minimal risk now of seeing a lower NAV, and IMO liquidators may have left some wiggle room for a marginally higher NAV ultimately...for the moment, it's probably best to assume a 2.3p final payout. Liquidator has confirmed they plan on making one more (i.e. a second) distribution to shareholders in due course, but wouldn't confirm timing & size at this point. Any further disclosure(s) will be made on the website:

hxxp://www.allianzglobalinvestors.co.uk/en/products/ProfessionalInvestors/FundLiterature/Pages/USTradedLifeInterestsFund.aspx

Looks like everybody's received the distribution at this point, yes? And to answer a reader query, does anybody here hold TLI via Fidelity UK? If so, have you actually received the distribution yet (& when)?

Cheers

[langland] 12/1/2017 07:59

Got my 52p worth yesterday from Hargreaves and another broker. I notice on the above link that there is an email for the liquidators so I may drop them a line later today to see if they will indicate what is to come. I have been budgeting for 54p.

[poacher45] 11/1/2017 22:42

Two separate holdings at different brokers.

[pldazzle] 11/1/2017 22:13

"Shareholders are advised that the initial distribution of 52.0 pence per Share held in the Company has been made by the Liquidators.

"The initial distribution date was confirmed as 3 January 2017 and the payments have been made by cheque."

Per website as at 10.13pm 11/01/17:


Poacher, are you saying that you had a second payment as well, or that you have two separate holdings on each of which you got 52p per share?

[cockerhoop] 11/1/2017 22:10

Nothing yet from idealing - their admin has really deteriorated of late, especially it seems when presented with cheques.

[poacher45] 11/1/2017 21:34

Both of my payments were credited last Friday.
Of course with the last four policies taking such a long while to transfer it could mean that they had already matured and alternative assets did not realise.

[ironstorm] 11/1/2017 19:41

So far I have 52p from AJBell.

Very nice!

From what I understand there is another 2.4p of NAV to pay out.

I think they wanted to do a big payt quickly which is fine by me.

[westcountryboy] 11/1/2017 19:21

Hi poacher - I guess and hope you are right, though the initial notice talked of retaining a reserve of only £100k out of £39m so I can't see why the rest can't be distributed sooner than that. We have not actually had news that the last four policies have been transferred, though their transfer was expected to be shortly after the last announcement on 8 December. Perhaps that's why only 52p has been credited. I would be interested to know the experience of other shareholders with different brokers. As I say, I have 52p cash from my TDW holding but not from my selftrade one.

[poacher45] 11/1/2017 18:48

The answer to that is this is the first payment so you still have the shares. Probably another 2-3p a share to come but perhaps several months down the line.

[westcountryboy] 11/1/2017 18:06

Curiously, TDW has already credited me with the cash for my shares, but at 52p. Whereas my Selftrade shares are still showing in my account.

[ironstorm] 09/12/2016 09:36

Well thats it. The fat lady is now clearing her throat - the orchestra is tuned - the conductor is turning to face them.

Its a shame as it had the potential to be so much more.

But all in all a 50% return in 2 years. Hat tip to Wexboy who put me on to this one.

Hope all shareholders enjoy some of it before starting the next dance.

[langland] 29/11/2016 15:06

Nearly there.

[pldazzle] 17/11/2016 23:18

"...the net asset value of the US Traded Life Interests Fund at 31 October 2016 was 54.9 pence per share. The associated exchange rate at 31 October was £1/US$1.221."

Although a good proportion of the assets have now been converted into sterling, I'd expect recent conversions to have been at less favourable rates than on 31 October (as I write, the rate is £1=US$1.2419, having been over $1.25 earlier today). Trump's election has somewhat knocked the US dollar (not by as much as some feared, but still...), and it could well be that the proceeds of the remaining US policies don't attract such a good exchange rate either. So I won't be very surprised to see the next NAV announcement down a few points.

That said, I fully expect something comfortably above 54.0p.

[langland] 17/11/2016 22:44

'In light of shareholders approving the change of investment objective on 10 October 2016 to effect the disposal of the portfolio, the net asset value is now prepared based on the aggregate portfolio sale price of US$43.25 million, plus cash previously held, with provision for an estimate of the Company's future running expenses and the expenses expected to be incurred in the proposed liquidation process.'

[pldazzle] 17/11/2016 21:38

post deleted

[poacher45] 17/11/2016 11:18

Now 54.9p of assets to be returned.

[langland] 15/11/2016 08:06

We should get another RNS today confirming the next lump has been transferred. FX around 1.25. So far so good.