Global Fixed Income Share Discussion Threads

[marben100] 01/10/2013 23:43

However... presumably you can only take the current bid if you can short the stock (unless you only tendered part of your holding)? Balance of tendered shares only returned to accounts on 4th October. Wonder what the bid will be then? ;0)

At these levels I'm inclined to bet on a recovery significantly above current levels. Gottex have taken considerable reserves against book values of invested funds. Strange as it may seem, there is a chance of upside to the current 83.8p NAV, not just downside.

Might even consider adding some more if the share price falls far enough.

Cheers,

Mark
Twitter @marben100

[tiltonboy] 01/10/2013 10:56

Gottex now need to earn their corn. The likelihood of another Tender in the short term is minimal, so does one take the current bid, or hope for a recovery rate of in excess of 60p in the £ on remaining holdings!

[tiltonboy] 25/9/2013 14:42

Somebody not waiting for the Tender by the look of it. A couple of sellers on the board at 50p!

[tiltonboy] 23/9/2013 14:19

Virtually all the way to the basic entitlement.

[gingerplant] 23/9/2013 14:11

NAV 83.8p on 30th Aug. How much will holders be scaled back?

[deepvalueinvestor] 17/9/2013 19:22

Although currency moving against us, I am encouraged by the arrival of Paridigm who have a good track record.

[boystown] 14/9/2013 08:34

Presumably - we do as usual and tender all our shares then see how far we get scaled back???

[praipus] 04/9/2013 15:14

Sell em or hedge with a few DTYS perhaps?

[tiltonboy] 04/9/2013 14:25

Another month, another write-down!

At least we have another Tender coming up shortly.

[praipus] 30/8/2013 21:56

lol its usually me that doesnt read the RNS:)

[badtime] 21/8/2013 22:39

Sold today and broke even.... tad too much uncertainty

[deepvalueinvestor] 21/8/2013 20:04

We simply don't know tiltonboy but I am talking to management and trying to get a better idea. I am pleased that this tender was a few months earlier than expected. The new investor clearly takes the same view as me but currency working against us in the short term so we should expect nav to be closer to 88p net time. A long slog.

[tiltonboy] 20/8/2013 23:48

dvi,

To get to those sort of returns you are looking at recovery rates of 60-65% on the balance of the portfolio. Are you that confident given the commentary on the remaining holdings!

[deepvalueinvestor] 20/8/2013 22:32

Eagle. I admit the investment in Ukraine could be more liquid but still looking at 65p-70p approx return over 3 years so I am more relaxed than you on this one.

[horndean eagle] 20/8/2013 15:33

Just had a look through results and the situation looks pretty dire for most of their assets. Brazilian assets likely to get whacked both by fx and the fact that Brazil has gone through a huge housing bubble. The Singapore asset reminds me of TRMA Newtonian asset. Ended up writing it down to zero. This is despite Newtonian in their monthly fund letters still reporting rising NAV. In effect just a huge scam. Indian, Ukranian and Indonesian assets also particularly unattractive given collapsing currencies. Just find yourself a broker who can let you sell post tender asap. Thats the only way to make money from this dog.

[jaws6] 20/8/2013 11:24

RNS with info on cash and nav out
edit- now new tender RNS out

[deepvalueinvestor] 16/8/2013 22:59

So looks like a tender in November but its going to be a long few years. The assets in Ukraine are the great unknown but I am encouraged by our new investors who obviously shares my view that there is some long term value here.

[insipiens] 15/8/2013 14:09

they had 21%

[jaws6] 15/8/2013 12:20

Is there now.
please refresh ,I read .looks ok .They got 21 % cash now.

[skyship] 15/8/2013 10:45

Doesn't appear to be there yet! Last factsheet was for May...

[skyship] 15/8/2013 10:40

Factsheet for June 2013

The monthly factsheet for Global Fixed Income Realisation Limited ("the Company") for June 2013 is now available on the Company's website -

[marben100] 13/8/2013 15:40

The May report says it's 12.8% = ~£9m. The £8m is net of 5% redemption penalty and 10% audit holdback. The latter amount should be received later.

[hugepants] 13/8/2013 09:58

marben do you know the book value of Cedar Hill?

[hugepants] 12/8/2013 20:41

but obviously if there was an expectation they'd get close to NAV for the remaining investments the share price would be much higher. There's a lot of write-downs factored in already.