|NB Distres Red
||RED ORD NPV
||EPS - Basic
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NB Distres Red Share Discussion Threads
Showing 201 to 224 of 225 messages
|I'm waiting for the Q4 factsheet before I decide my course of action. Having predominantly bought stock at or near the lows, I may ease a few out as the price rises, and if I have a perceived better idea.
I think $1.10 should be conservative, and only time will tell how much they got wrong.|
|They were coy when questioned, and used the phrase "we can't lose any more" I found them evasive, and I wouldn't touch the Managers with a bargepole again.|
|Tilts - stats extracted from the qtly factsheets show the following Oil&Gas valuations:
# Sep'15 - £8.15m
# Dec'15 - £5.3m + talk of writedowns - see below
# Mar'16 - £6.78m
# Jun'16 - £9.34m + talk of £1.5m upward revaluations
# Sep'16 - £9.67m
What we don't know is what part of the increase in 2016 was down to purchases; but it could well be that the O&G position is not as bad as we may have thought.
What final value do you now think may be achieved here? I'm looking for 110p by Dec'19 for a GRY of 10.65% @ 81.5p.
NBDG's NAV was impacted during the quarter by significant gains/losses in energy and utilities, post reorganisation equities and infrastructure investments. Significant events were:
-- Exploration & Production (E&P) investments were negatively impacted by further declines in underlying commodity prices. WTI oil prices were down approximately 18% during the fourth quarter while the Henry Hub (US Benchmark) natural gas prices fell approximately 7%. Unlike other sectors in the portfolio that have been marked down and we expect to recover, some portion of this decline could be permanent.|
|I wonder if they can get anything back on the O&G debt, following the recovery in markets. This is an area where they really messed up big style, and will tarnish them.|
|Interesting to note that the only buybacks recently have been of the Extended Life stock; perhaps no NBDG available. As Tilts has previously stated, the Market is likely to be short, so even a small 5k buyer lifts the price.
With the NAV at 96.54p; the discount at 16% and the end of the Investment Period just 11weeks away, we could soon be hitting the middle of these three purple lines:
free stock charts from uk.advfn.com|
|NAV now over 96p, aided by sterling weakness. Not that I'm counting, but only 11 weeks left of investing for the Managers. Lets get the returns back in short order.
Can't see them coming back with another fund after this shambles|
|Added 5k myself, but had to place a limit order - not much free stock about.|
|Sterling strength will probably knock it back a little tomorrow.
Yes, latest figure of 93.42p but considering still possible to buy around 79.6p this morning continues to be an interesting buy.|
|...and only just over four months until harvest!|
|Yikes....thought that 95p must have been a typo for the 93p I posted earlier in the day; but no - 95p and change it is. As you say; must have been some good portfolio news.
I admit now I sold a few just ahead or after the US presidential elections - 77p I think it was. So missed the divi, then bought them back at 78.3p. Pleased to be back up to a 14% allocation.|
|Must be some portfolio news to take the NAV up to 95p. Sterling strength will probably knock it back a little tomorrow.|
|NAV marches on - now at 93p
18 Nov 2016 - Net Asset Value Per Share
NB Distressed Debt Investment Fund Limited announces the following unaudited, estimated net asset values per share as at 17 Nov 2016:
Extended Life Share USD 1.0032
Ordinary Share USD 1.0452
New Global Share GBP 0.9303|
|Any ideas on how this might be affected by higher inflation in the US?|
|XD 1.02p today|
|carcosa - thnx for reminding me of that - yes, P67 says it all for hosede...|
|Hosede, also see page 67 onwards: hxxp://www.nbddif.com/pdf/NBDDIF-Global-Share-Prospectus-2014.pdf|
|Hosede - These links should answer your questions:
But if debt is secured - on assets of some sort - how is it distressed. I assumed the distressed debt was bought at huge discounts from lenders who wanted to "crystallise their losses.|
|Tilts - "If they really think they can get 20% returns on the portfolio I will be well happy."
Absolutely. Surely a no risk return of 17%+ from their own stock has to be a no brainer compared to new investments. But as you say, 20%+ from elsewhere most acceptable if less than a 3yr timescale.|
|hosede - with secured debt a company failure can perversely be an advantage as you secure 100% return of capital in advance of maturity. I understand their portfolio to be of private offerings, not listed. The values naturally increase toward redemption, cancelling out the Mark-to-Market discounts.
Tilts - anything to add/correct?|
|Of course they will be fully invested by Q1 2017, even though the best investment should be their own shares. If they really think they can get 20% returns on the portfolio I will be well happy.
I have a few questions to ask them next week.|
|Qtly portfolio update out today. Not much in there really; though they say still at 14.6% CASH, though hoping to be fully invested by end Mar'17 for the start of the Harvesting Period. I hope they fail that particular objective!
|1.02p certainly isn't a lot; but useful nevertheless:
28 October 2016
NB Distressed Debt Investment Fund Limited - Income Distribution
The Board of the Company is pleased to announce an income distribution by way of a dividend of $0.0793 per Ordinary Share, $0.0332 per Extended Life Share and GBP0.0102 per New Global Share (collectively the "Share Classes") to be payable on 20 December 2016 to shareholders on the register of the Share Classes as at the close of business on 11 November 2016.
The Board has declared the dividends in accordance with the Company's distribution policy, as set out in the Company's Prospectuses for each applicable Share Class and the Articles of Incorporation, which requires that all income from the Company's Share Classes be distributed after deducting reasonable expenses, subject to the solvency test prescribed by Guernsey law. The exact amount and timing of any future income distributions may vary depending on the amounts of income received by the Company less relevant expenses.
The dividend timetable is set out below:
Ex-dividend date 10 November 2016
Dividend record date 11 November 2016
Dividend payment date 20 December 2016|
|I wasn't expecting any cash dividends!|