Close Enhanced Share Discussion Threads

[davebowler] 14/3/2008 14:33

Gold now past $ 1000,yet very little interest in this, judging from the discount.

[davebowler] 11/3/2008 14:20

Thanks mangal

[bangor] 11/3/2008 13:56

Zutalors

thanks for the link

[mangal] 11/3/2008 12:48

I think the current NAVs are: CED-327p & CED2-159p

[davebowler] 11/3/2008 12:04

Skyship, I used 2 full years for my calculation and rounded down.
Still pretty impressive!
Mangal, have you got the up to date spreadsheet figures on CED2?

[mangal] 10/3/2008 21:05

Yes SKYSHIP, there IS a 2x multiplier in there:
initial 100p NAV + twice the rise of 28p = 156p

[skyship] 10/3/2008 16:55

DAVEBOWLER - 12.9%?? I make the NAV today 320p, so the GRY @ 247p is 14.17% on my model

MANGAL - re yr CED2 calculations - if the NAV now is 128p - why does it change to 156p on the next line? Is their a 2x multiplier in there somehow? Sorry - haven't read the factsheet on that one yet!!

[davebowler] 10/3/2008 10:48

NAV 319 so Gross Yield to Redemption is 12.9%


Based on the values of the commodities as at 5 March 2008 and assuming these
values were to remain unchanged through to the end of the life of the Company,
the final capital entitlement per Share on the Redemption Date would be 319
pence. This is not a forecast nor is it a reflection of the net asset value per
Share and takes no account of any unforeseen circumstances and is provided for
informational purposes only and should not be relied upon for investment
decisions

[bangor] 04/3/2008 14:33

db

The info I am looking for is about LCTY and LCNE, 2 Lyxor ETFs.

[davebowler] 04/3/2008 09:58

Look on the CED2 thread under news items.

[bangor] 04/3/2008 09:50

Zutalors

Good find with the agricultural/metals ETFs. Myself as I want more agric. exposure prefer LCNE. However I'm having trouble finding a decent link to information on these - where did you get the breakdown?

[mangal] 29/2/2008 18:29

tiltonboy, This is how I track the NAV of CED2: - al cu zn nk oil wheat corn sugar Total p NAV-start(p) 12.5 12.5 12.5 12.5 12.5 12.5 12.5 12.5 100p u/l price-start 2733 74403686 50900 68 517 390 9.3 - u/l price-now 3077 8532 2728 31218 100 1110 554 14.7 - NAV-now(p) 14.0 14.3 9.37.7 18.4 26.9 17.8 19.6 128p Thus, the NAV now = 156p; so, the [sp 118p] discount to NAV is 25% apprx.

[tiltonboy] 29/2/2008 15:03

mangal,

What do you reckon the discount is on CED2 then?

tiltonboy

[mangal] 29/2/2008 09:34

CED2 is now is at a greater discount to NAV than this.

[skyship] 28/2/2008 19:09

Bloody hell Alan - that's a really complex link - though may well be exactly what tiltonboy wanted. Well found.

O/T - Do you or Tilts know who that outfit is that has taken 3.2% of TIR?

[davebowler] 28/2/2008 16:26

NAV 27 Feb 310p

[alanji] 22/2/2008 17:55

Tilton

Have a look here:

[davebowler] 22/2/2008 16:10

I think with the discount we are getting 2.3 times gearing for each 1% move in the underlying commodities. Can't be bad.

[davebowler] 22/2/2008 14:52

Nav almost £3;





RNS Number:4893O
Close Enhanced Commodities Fund Ld
21 February 2008

FOR IMMEDIATE RELEASE

21 February 2008

Close Enhanced Commodities Fund Limited (the "Company")

The investment objective of the Company is to provide to shareholders, on the
Redemption Date in February 2010, a capital amount of 100 pence per Share and a
growth amount equal to two times any percentage increase in the End Value* of
the Commodity Portfolio relative to its Start Value.

The Commodity Portfolio is a notional portfolio of commodities comprising by
value on the Start Date, being 22 February 2005, one-third crude oil, one-third
gold and one-third industrial metals (equally weighted between aluminium, copper
and zinc).

Based on the values of the commodities as at 20 February 2008 and assuming these
values were to remain unchanged through to the end of the life of the Company,
the final capital entitlement per Share on the Redemption Date would be 295
pence. This is not a forecast nor is it a reflection of the net asset value per
Share and takes no account of any unforeseen circumstances and is provided for
informational purposes only and should not be relied upon for investment
decisions.

Commodity Start Value As at
20 February 2008
Oil $51.15 $100.74
Gold $432.85 $920.00
Aluminium $1972.00 $2812.50
Copper $3367.00 $8101.00
Zinc $1383.00 $2340.50
Commodity Portfolio = 100.00% 197.88%

*The End Value will be the average value of the Commodity Portfolio over the one
year period ending on 22 February 2010.

[tiltonboy] 22/2/2008 13:22

SKYSHIP,

Two years to the day for this one. I'm looking at a way of arbing the discount, and wondered if you knew of any Gold/Oil option websites where I could look at pricing. I've asked on the OPTS thread, and awaiting a reply.

tiltonboy

[zutalors] 21/2/2008 11:20

LCTY & LCNE ARE ETFs.