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Alternative Liq Share Discussion Threads
Showing 26 to 50 of 50 messages
|I guess Brazil and Ukraine aren't exactly flavour of the month, but hey, they returned some money?|
|Am I missing something stupid. It's not even a penny share, but it's worth say 60p a share?|
|Well played Sir. Nav was around 80 cents a share though?|
|There's been 2 distributions of 7.5 cents in total since I bought in August. I've made a stonking 50% profit in 3-4 months so I've sold out. Don't want to tempt fate by holding on. The shares still trade at a massive discount if you believe the NAV. I don't but even if you write the NAV down by 50% the shares look cheap. The concern is , given the illiquidity of the assets, you just don't know when they will be able to realise more assets and be able to distribute more cash. It could be next week or alternatively years away.|
|Yes. It keeps dropping. Where is a good entry point do you think?|
|Lots of assets vs share price still...
Not as good a buy as it was before but still good...
My post is still up at www.deepvalueinvestments.wordpress.com though it is increasingly out of date...|
|Soo, is this still worth buying now?|
|tks rj - just spotted the news|
|Return of capital - share price fell by value of return of capital but only small % of (admittedly) overstated NAV....|
|zero shares traded? why the price chg|
|well - my chart from jan eventually came true lol (zzz) - bumpy ride tho!
free stock charts from uk.advfn.com|
|I see GFIR have written down the value of their Vision FCVS investments by about 65% in their latest fact sheet.
It will be interesting to see if ALF do the same. The Vision FCVS investments comprise approx 25% of ALF's NAV so that would knock about 15 cents off NAV.
ALF also hold Vision Electrobas which is about 10% of NAV. I've no idea if the write-down would apply to this investment also.
No-one believes the NAV anyway so write-downs are probably inevitable.|
|Thanks for working that out HugePants - I knew it was good news but as I dont want to buy any more I didnt really study it in detail...|
|Holding announcement. Sunrise have increased to over 10%
|Interesting update here late on Friday. With something like ALF you are just looking for any indication the NAV is even close to being valid. So 2 investments worth about 24% of NAV revalued at approx their book value and 6 cents a share cash received from one of these investments in September looks like good news.
NAV stated as 86.6 cents at end of July. Since then they have returned 2 cents as a capital return. So NAV actually now 84.6 cents
The Growth Management funds sold their largest position which resulted in a cash return to ALF of just over 50% of the Growth Management NAV. That works out at 6 cents per share to ALF. The Growth Management funds also had their NAV revalued upwards slightly.
In addition a lender to the the Unique Cornerstone Fund converted debt to equity which resulted in an 11% decrease in NAV of that investment. However this looks like a positive since it's close to the book value and is a valuation event? Cornerstone is now 10.8% of NAV which is 9.3 cents
So by my calcs ALF has 8 cents cash (and that accounts for ongoing annual running costs of approx 0.75 cents per share).
Cash + Cornerstone + Growth Management is approx 23 cents and this seems a fairly reliable valuation.
That leaves about 60 cents of NAV. Even if these investments are only worth 40% of book value that's still an extra 24 cents.
I expect ALF to pay shareholders 5-6 cents back shortly. DYOR etc.|
|Cheers hugepants, TCF one day next 2/3 years announcement and big rise. Mint is big holding for SIHL but price is OK.
Increasingly think RMA may take a while...|
|Cheers hugepants, TCF one day next 2/3 years announcement and big rise. Mint is big holding for SIHL but price is OK.|
|rjmahan, Im long the following (largest holding first)
I'm overweight in RMA (thanks for flagging it up in your blog!).
TCF looks interesting but I get the impression there is unlikely to be any realisations any time soon. SIHL is cheap but I don't like the fact it is heavily weighted on a single company. If it dropped back to 70c I'd probably buy some.|
|HugePants - you post on ALF and RMA - are you in all my stocks? What about SIHL ? or TCF ?
What are you long ?|
|This stock should really be renamed "The Alternative Illiquidity Fund".
I guess results must be due soon. Latest fact sheet is to end June 2016
|Nice spot! That's 13% of the current market cap to be returned.|
|Return of capital -
|This looks like its basically an emerging markets trust, albeit with very illiquid and hard to value investments. It's interesting that this is still valued below its pre-BREXIT level whereas other, more mainstream trusts, like ALAI and JEMI are about 20% higher, probably in large part due to currency effects.|
|Why do you say it is rubbish tilton ?
Fact remains it only needs one or two to pay out and you get the MCAP back.|
|...lol...had a quick look, and soon saw some familiar names!
Looks like GFIR are not the only ones to own some of that rubbish.|