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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Ashmore Global Opportunities Limited | AGOL | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 1.52 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 1.52 | 1.52 |
| Top Posts |
|---|
Posted at 02/7/2018 10:19 by horndean eagle ZIM Labs had an IPO last month. Shares up from 160 to 445. Not sure whether AGOL's stake got sold at IPO or not and if so whether they got an uplift to book value. It was 5.3% of nav. Not sure whether these proceeds helped bump up the 40% or so returned to us as AGOL pointed out the current distribution was based off cash they have as of end May. Actually some excitement left in the portfolio so wouldn't be surprised with further NAV upgrades. |
Posted at 17/7/2013 21:37 by marben100 Hi Cerrito,Re the NAV: don't forget that 28th June was exactly at the low point in the market. Things have rebounded substantially since then. Thanks for asking for the report: I'd like to see that too. Presumably you haven't seen this evening's announcement: "Further to the approval by the Company's shareholders of the winding down proposals as described in the circular to shareholders on 20 February 2013 (the "Circular") the Company today announces that it will return 26.17 pence and 26.60 US cents per GBP and USD share respectively on 2 August 2013 (the "Redemption Date") by way of a compulsory partial redemption of shares (the "Redemption") by reference to the 30 June 2013 NAV Calculation Date..." Only a small redemption this time, but looks like we'll get them quarterly now. I'd expect the next one to be a bit bigger - and with considerably more to be returned in 2014, based on this from the annual report, issued in April: "The initial distribution relating to the quarter ended 31 March 2013 will be US$88.8 million with payment expected to take place on or around 3 May 2013. The Board expects that approximately a further US$40 million will be realised during the following six months and that, including the above mentioned distributions, in total approximately 50% of the 31 December 2012 NAV will have become available for distribution by 31 December 2014." Cheers, Mark |
Posted at 07/5/2013 13:30 by fangorn2 Large reduction in stake by Schroders... |
Posted at 25/3/2013 17:54 by centipede I've just bought some AGOL, and am interested about how this is going to play out.The main attraction is the discount to NAV. On 28.2.13 the NAV was £7.89, and the shares recently cost me £5.85. This means that if they liquidated, then I should get a 35% uplift. However, they are going to take their time over winding up, with quarterly redemptions of shares at NAV, totalling 50% by Dec 2014. The remaining portfolio may take even longer to realise up to three or more years beyond this. The basic problem with this share is that the underlying value (NAV) has gone down significantly over time a reduction of 22% over the last 5 and a half years, with no signs of this changing. The underlying investment approach is 'Dynamic strategy investing across all Ashmore's investment themes including external debt, local currency, special situations (incorporating distressed debt and private equity), corporate high yield and equity'. However, as far as I can see, the succes of the underlying investments rests on unknowable things such as the future price of ethanol in Brazil, with the invested-in company currently taking on more debt. I am therefore doubtful if we can expect NAV to increase, and the long term trend might even continue. Given a 50% return of NAV over the next 21 months, along with a halving of our shares, I make this equivalent to approx 13% per annum over that period. OK, but not stonking, and the NAV could always (continue to) fall. Shame they can't just sell up straight away anybody know why it's all going to take nearly five years? |
Posted at 10/2/2013 10:40 by rambutan2 I tend to the below view that the nav has growth in it... In October, the discount to NAV widened to 45%. We bought more of the USD class shares and established a holding in the Sterling class shares. I then wrote to the fund's Board in early November pointing out that "the Company's share price discount to NAV has widened significantly to 45%, making it a significant outlier (in a bad way) in the closed-end fund sector." I added that "this must be a major embarrassment to Ashmore, the manager who are a member of the FTSE 250 index and a leading investment manager in emerging markets" and "a major impediment to Ashmore raising new funds." I suggested to the Board that "in light of the very wide discount to NAV at which the Company's shares are trading, the ineffectiveness of the small share repurchases and dividend, and the disappointing NAV performance, we believe that the Board needs to take drastic action in fairly short order and that the Company should return capital to shareholders through tender offers, dividends or capital distributions in a tax-efficient manner until the original capital raised in the Company's IPO has been returned to shareholders." I am pleased to report that the Board listened and followed my suggestion. They went one step further and on 12th December, they announced a "managed wind down" whereby the Company's assets will be realised for cash over the next few years and returned to shareholders. The share price of the fund bounced as a result of the Board's announcement. We think there is still considerable upside for investors. The current NAV per share is just over $8 per share compared to a share price of $5.25. As recently as September, my main contact at Ashmore suggested that the Company could increase the NAV to $15 per share by the end 2016. We think that is probably too optimistic but if the fund can return $12 per share over 3-4 years during a managed wind down, that will represent an excellent return for shareholders based on the current share price. |
Posted at 04/2/2013 14:28 by jaws6 edwardtSo far have not seen any thing from brokers yet Have you seen any thing ? Re quarterly distributions might get more if one of them ipo or sale get more more money. edit-waiting for update on this Dec one |
Posted at 30/11/2012 10:10 by edwardt i think my point is that a large chunk of the llps are nearing maturity , hence they will revert to cash in the next year or so. AGOL as a permanent capital fund would evidently want to roll these into another 6 year life llp. The announcement would hopefully infer the board will give due consideration to putting the trust in run off. This surely would help the discount to narrow a little.. shareholders must be pressuring for this as quite simply the manager has not delivered. |
Posted at 26/4/2012 15:17 by cerrito Just gone through the annual report.Made a mistake a few weeks back and bought at £6.30; am not intending to buy any more-certainly not selling-and those who have no exposure to this or a similiar asset class may want to look at buying. The following from the notes suggest that this will be a long haul and explains the current discount-the last NAV given was at 29.2.12 at £8.65. Discount control mechanism The Board may, at their absolute discretion, utilise the share repurchase authority described above to address any imbalance between the supply of and demand for shares, and may do so actively if the closing price of any class of shares is 5 per cent or more below the most recently published Net Asset Value of the shares of that class. As set out above however, there can be no assurance that any such purchases will be made. Distribution policy The Company does not expect to pay dividends, at least in the short to medium-term, although subject to the Laws and the Listing Rules the Company may by ordinary resolution from time to time declare dividends. No dividend shall exceed the amount recommended by the Board. The Board may declare and pay interim dividends if, in the opinion of the Board, they are justified by the profits of the Company. |
Posted at 29/8/2011 14:23 by rambutan2 Agree guys, will get in touch with them re the AEI outcome. Latest presentation... |
Posted at 29/8/2011 08:42 by cerrito not a terribly illuminating half year report and had difficulty in working out from the cash flow how they spent the $83m dividend received.Note at about 20% discount despite the buy backs but given the current macro climate is what one would expect comfortable with what I have but no desire to add or sell |
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