|Damille Inv Ii
||ORD SHS NPV
||EPS - Basic
||Market Cap (m)
|Equity Investment Instruments
Damille Inv Ii Share Discussion Threads
Showing 101 to 123 of 125 messages
|Wish they could prod Internos to get moving and extract value for their LSR stake|
|Buying more KGLD now holding over 14%
|P - this is what I recently wrote about LSR:
and the supplementary:
|S - No problem. Not sure how we missed this, RNS from November:
|P - sorry, didn't see yr 102 above. No, no RNS, I think I just took the stats from their website.|
|Yep in the RNS
|There is a redemption offer for up to 15% of your holding.|
|Hi Skyship, Happy New Year,
Is there an accompanying RNS?|
|On the face of it they've grown the portfolio just 8% in 4 years - a pretty lamentable performance if so. Hopefully they'll have more luck with their new LSR holding, as I've made it my NAP for 2016. Did very well out of it when accorded the same honour in 2014!|
|Another redemption offer
|Haven't seen this before
|Investment in TRV 11.83% of TRV disclosed
|With £34m in the bank, currently, the impact of these buybacks on cash availability is pretty negligible.
Fees are linked to NAV (not NAV/share) & buying shares back reduces the NAV, so don't see how these buybacks benefit the advisor, though admittedly the 1.45% fee is somewhat steep given the pretty derisory returns obtained recently.
Nevertheless, I like the strategy, which is why I'm invested here. Like any strategy, it won't work all the time and I'd rather that the managers waited for opportune market conditions than that they were impatient & made ill-advised investments, losing shareholders money.
Note that there is a continuation resolution towards the end of 2015, so if DIl2 continues to underperform, I expect the vote will go against and the fund will be wound up.
|Trying to understand the rationale behind the share buy backs my concerns are:
1. Reduced cash buying power
2. Reduced ability to compund returns
3. Superficially inflated NAV*
*I've read elswhere that companies arent allways run for the shareholders but for the manager. Perhaps thats the issue here and its just taking me a while to realise. Their income and fees are safe and not materially linked to share price or NAV performance.|
During the Period, the Company's NAV per Share was essentially flat. Since launch on 3 November 2011 until the 31 May 2014, the Company's net asset value per Share increased by 12.18%.
|Why shouldn't they do buybacks? This company is all about buying assets cheap and realising value. Whilst there's little good in the market (as indicated in the recent interims), why not buy shares at an ~15% discount to the underlying asset value? All adds to the NAV/share which share holders get a sniff of at the annual 15% tender. I am very happy, myself, to buy shares at a big discount like this, and then take some profit when the tender comes around.
What I don't want is the fund manager putting shareholders' money in bets that don't offer a good margin of safety. Patience, waiting for the right investments to come along, is part of the secret of successful investment.
Ironically, this company offers an arbitrage opportunity in its own right via that tender!
|Hmmm buy backs for goodness sake invest the cash or give it back don't buy your own shares back.
Starting to look poorly managed IMHO.
The other activists and arbitrageurs are making me money these aren't.|
|New web address
|Buying more KGLD
Long gold ETF|