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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Equity Part.Cap | EQPC | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 25.50 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 25.50 | 25.50 |
| Top Posts |
|---|
Posted at 04/12/2007 09:24 by linhur Hi RamI am having a good look at the VCT, although in the present small company climate, it will probably be a 5 year haul. Quite a sharp drop in the NAV to 117p at the end of November. I may go a bit bearish on EQPC and wait for a resumption of the large discount to NAV!. regards Linhur |
Posted at 12/9/2007 19:29 by linhur Thanks Ram for your thoughts.Still holding EQPC but will watch share price closely. Also holding the usual suspects, ecwc,ecwo,utl and uem for the utility cover.Have added to property cos as I feel unlikely to fall too far now and REIT cos should be giving increasing divis in future. regards linhur |
Posted at 09/9/2007 00:26 by rambutan2 Hi Linhur, Like yourself I'm feeling rather bearish at the mo and believe that there is a likely to be a worse downturn to come at some stage over the next few months. I did sell out of a few of my more liquid, mkt geared trusts in june and at that time also halved my stake in eqpc. however, unlike everything else, it's gone up since and i suspect that there must be something going on behind the scenes. that said, in this mkt i'd still be inclined to reduce, especially if there's a buyer around. cash is king at these times of little upside but big downside. i was never a fan of the amn management and always refused to hold. last downturn they didn't equit themselves very well. agree re sdv, not worth the risk and manager not of an absolute mindset. will be able to pick up again cheaper if mkt drops. imho. ones i've held onto are et. due to it's absolute mandate, asian emphasis, and monthly fact sheet so you can follow what they are up to. mth, due to the lead manager being of a conservative nature and holding over 3% himself, with a big cash holding, a bit of yield, and an interesting new fund management business. riii, due to the manager, its yield, and its illiquidity. a couple of jap trusts, mjt and mwj, both with good managers and japan being a sort of contrarian hedge type exposure. mlco, which is worth picking up on a bad day on a decent yield for the commod exposure. lax, which offers exposure to the laxey arbs. and just a few ecit, as i was interested in what mr saville might be up to with it. regards rambutan |
Posted at 07/9/2007 22:08 by linhur Hi RamStill holding EQPI (pension SIPP) and EQPC which I have been increasing over the last year. As I am greatly bearish, this one has come round for review.The key might be in the change of ownership of the management. I always thought the managers would have commanded a decent premium if it changed hands but that did not happen.Also the BRit Ins holding has disappeared and presumably with turmoil in the credit markets which must overflow into stock markets when the interest rates increase, it might make sense to reduce or exit at this time. I have a similar problem with AMN. Disposing of SDV as it is not the right market for smaller companies. As you can see I am rushing to increase liquidity at present, so that the funds are there to take aim in the spring when markets overshoot (FTSE at 5200 and Dow at 8500??) Would welcome your views kind regards linhur |
Posted at 22/4/2007 22:46 by rambutan2 interims were out fri...The six month's ended 31 January 2007 has been an excellent period for the Company. The Capital Share NAV has made further progress, rising 14.92% since the end of July 2006 with useful contributions from all three main areas of investment - UK Equity, Specialist Funds and Private Equity. This compares favourably with the Company's LIBOR + 3% per annum benchmark return over the period of 3.98% and a 6.9% rise in the All Share Index (ex income). We were particularly encouraged to see a profitable realisation of Independent Living, our care home investment for people with learning disabilities which was sold to Hermes Private Equity in December for a 2.6x multiple on the equity investment and an IRR of 76%. The Company's UK Equity portfolio continues to generate returns in excess of the All Share Index with an uplift over the six months of 22.1% against an Index return of 8.3% (including income). This in turn was due to some well-timed tactical trading opportunities and continuing good performance from some of our core positions such as Diploma and DTZ. The performance of the Specialist Funds was greatly enhanced by the very significant move in the share price of Climate Exchange PLC in January. During the period we also realised the Company's investment in our Fund Manager, EPIC Investment Partners Limited ("EIP"). EIP has been purchased by AIM listed Syndicate Asset Management PLC ("SAM") and the consideration took the form of a combination of cash, shares in SAM, deferred consideration and a 6% yielding loan note. As previously indicated, while the price paid was in line with the Directors' valuation at which the shares were held in the portfolio, the sale has removed an element of uncertainty in terms of the value of a significant shareholding. The proceeds will be recommitted in line with the Company's current asset allocation strategy. Income shareholders received their full entitlement of 5.63675 pence over the half year. A significant exposure within the Private Equity portfolio to high yield mezzanine investments has helped the Company to continue growing the income reserve. Undistributed income over and above that payable to Income Shareholders accrues for the benefit of Capital Shareholders and provides comfort both to Income Shareholders that their future dividend entitlements are increasingly well covered and to Capital shareholders that the allocation of assets will can continue to provide the optimum total return without distorting the Fund's structure to generate additional income. Moving on to asset allocation, the Company continues to hold a relatively high proportion of cash and CD's. However, this disguises the high level of activity during the half year and realisations from the Private Equity portfolio which have yet to be recommitted. As a result the percentage of the Company's assets committed to Private Equity has fallen over the half year from approximately 23% to just over 16%. We would expect this percentage to increase over the coming months as opportunities present themselves. the last official nav and slightly more up to date than the interims... The Board of Directors of The Equity Partnership Investment Company plc wish to announce that the fully diluted unaudited February 2007 NAV per Capital share is 133.08 pence. |
Posted at 28/3/2007 21:52 by linhur Hi RamThanks for the snippet on SVM. I seem to have a number of their choices in my portfolio at the moment. They used to be the kiss of death. EQPC seem worth holding to the final showdown in 2008. I see REO is mentioned prominently but the I expect you followed that in another place. Kind regards Linhur |
Posted at 10/9/2006 01:56 by rambutan2 from brits recent interims - confirm that eip stake up for sale and talks ongoing...PERFORMANCE: INVESTMENTS REVIEW The Group's total investment return for the half year was #37.0m (30 June 2005: #61.2m). Total invested assets were approximately constant at #2,382.5m (31 December 2005 #2,373.7m). Positive cash flow from new business was balanced by claims payments in respect of the hurricanes of 2004 and 2005, the final 2005 dividend payment and the partial redemption of the Unsecured Loan Stock. As previously, some 90% of our investment portfolio remains in a mixture of cash and short duration, high quality fixed income securities. Both Sterling and US dollar interest rates rose some 70 basis points in the half year. If it continues, this trend augurs well for future levels of investment return, but it has a short term effect of a mark-to-market unrealised loss on the current bond portfolio. In the half year we recorded unrealised losses on the bond portfolio of #12.8m. 83% of the Group's investments are managed by subsidiaries of Equity Investment Partners ("EIP"), in which the Group owns a 41% stake. Discussions continue with a number of parties with a view to the potential sale of this stake. While investment returns remain central to the Group's profitability, we have decided that the Group does not need to own its investment manager and is not deriving value in its share price from doing so; and that EIP's own future growth may be faster under new ownership. As can be seen from the following tables having outperformed the benchmarks for our asset classes in 2005, we have performed largely in line with the benchmarks in the first half of 2006, given our asset mix and the duration of our bond portfolio. |
Posted at 10/9/2006 01:52 by rambutan2 as epic now release their rns etc under the eqpc code (as well as the eqpi code) and thus advfn supply the relevant info, i thought i'd better do the sensible thing and switch over the thread to here. a link to the original thread is in the header. |
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