|P2P Global Investments
||EPS - Basic
||Market Cap (m)
|Equity Investment Instruments
P2P Global Share Discussion Threads
Showing 376 to 398 of 400 messages
|Thanks and an interesting comment on P2P high fee structure...........this should be altered to bring back cash in to the fund............|
For senior loans, Numis recommends the £995 Neuberger Berman Global Floating Rate Income fund as a core 'buy'. Its diversified exposure to the US loan market has a quality bias, while its current yield of 4.5% will float upwards as US rates rise.
Commenting on CLOs, the analysts said they were an "attractive way to enhance returns from senior loans, through leveraging up higher quality names, rather than venturing further down the credit spectrum".
The team also favour the $300m Fair Oaks Income and €330 Blackstone GSO Loan Financing funds for the subsector.
In the direct lending space, the core pick is the £173m Funding Circle SME Income, which "offers exposure to SME loans originated through the Funding Circle playform with an attractive fee structure".
Meanwhile, the £680m P2P Global Investments trust is a new trading 'buy' as it offers a value opportunity on a 20% discount, despite its high fee structure.|
|Good point so lets wait for the next set of news - exchange a few ideas and I will then send P2P our thoughts.|
|Thats like 0.2% of shares outstanding I think? Every little helps I suppose.
Think though would be better to have a tender offer once a quarter for 5% of the shares at say 10% below nav. That way share price would stay in line with nav much better. And if the company shares outstanding fell to say less than 30% of original issue size the company would be wound down.|
|So far 200,000 shares taken out of ciculation..........well that's a start to get the NAV back in to shape.........|
|Definitely feel share buyback announcement to support the share price is all about preserving Marshall Wace reputation. If it hadn't been made they could have been buying back at 7.30 rather than 8.00, 25000 shares a day saving 70p each that's £17500 extra saving EVERY day.|
|Looking forward to the December semi annual report.
I wonder if they will clarify the reasons for subpar performance. It cant be fx hedging given stable fx rates, cant be rising bond yields as that was in December not november, cant be the costs of the securitisation as that has passed. Can only be rising defaults which is not a good sign I think.|
|But they may well know that they have a serious problem so until they can come clean let them buy loose stock every day.
Once the year ends and we know the date of the year end figures then one can build the questions and of course one can go to the AGM, which I will do as I would like to meet people who seem unable to get me a reasonable return.
I am a member of a village investment club and our returns are stunning compared with many investment trusts run by young idiots in the City.
I am still a seller but not yet............|
|0.27% month on month again for November, and no commentary from fund manager.
Fund is levered almost 2 times which means underlying assets returning about 2% a year but have a coupon of 12%. makes no sense.|
|Lets put some meat on the bone..............
LONDON (Alliance News) - "VPC Specialty Lending Investments PLC said Thursday it has sold its portfolio of peer-to-peer loans originated via lending marketplace Funding Circle UK.
Although VPC did not disclose the exact price of the sale, it noted the portfolio had already been valued at its expected sale price on October 31 and it therefore expects the financial impact of the disposal to be "largely limited" to transaction costs. As at October 31, the loan portfolio represented 7.7% of VPC's net asset value.
"The sale helps accelerate the company's strategy of reallocating capital away from market place lending investments into balance sheet investments that have consistently generated higher returns with less volatility," said VPC".
I also noted that VPC was at a 17.9% discount to NAV but P2P is over 20% so does it stand to reason that the price of P2P should be up at around 850p to deliver the dividend return that the board has stated?
If they can sell a portfolio then P2P could as there are buyers in the USA for this sort of investment.|
|VPC also announcing share buyback. Got to be a better use of these companies capital, automatic 30% increase at current price levels.|
|At least they could have done the buyback after the price went south instead of before!|
|.27%, slipped out when everyone isn't looking...|
|I agree. I do think that if the 15% buy back doesn't work they will eventually move towards a tender offer for all the shares at a small discount to nav. Reputationally it doesn't look good to have your stock trading at such large discount.
Down 3% today so the 15% announcement not having much effect.
Out of interest does anyone know how an investment trust that trades at a discount issues new stock? RDL just issued £40m of C class stock at 1000p but presumably this will trade imminently at a discount too. So I don't understand how u would ever find rational buyers of a tap issue of an investment trust that trades at a discount. As u will always forfeit the discount.|
|Another 25K shares bought today so that is 75K since the new broker rule was brought in.
Nevertheless this hare and concept has been a disaster not only for the City but small investors and the big boys such as Woodford who now seems as having a habit of picking them.
My message to the City is go back to basics and get off your seats and visit UK businesses to learn how they work and then listen as to how they will make money and then you can invest. Trying to use derivatives and FX and bundling these all together is not good and just look at where its got the world banking system..........
As I type I really think P2P should run off its assets and buy back the shares asap.|
|Interesting that there are still sellers at 20% discount even with this announcement. Clearly it will take a few 0.5s 0.6s to really get the share price moving higher from here.
Just re reading the announcement it cud be that nothing has changed in terms of volumes bought etc except that it is Liberium buying with their own discretion instead of the fund manager. In which case perhaps shudnt have much effect on share price.|
|Good point as the second batch of 25k shares purchased this morning.
ARGOAL.......yes it is a new announcement as its the BROKER buying and not being told to do so by the HOUSE (Mr Champ). Big difference.............
Are you a shareholder or watcher/poster?|
|If they hadn't made a formal announcement regarding the buyback they would be buying shares at 7.30 rather than 7.95. Nearly £15000 a day, if buying 25000 daily.|
|Friday's mop up was only 25K. So no change on the volumes being bought back yet.
I'm not convinced the buyback statement was anything new and that we will see big numbers bought back. Just the steady trickle we have already seen.|
|I think some of the big shareholders must have told the management that small mop up transactions was not on and that the discount must be broght back to a sensible level.
Now we have an independent party (it you believe that) buying in on published information so we shall have to wait for the December figures to see what the NAV is and how much cash can be used to enact the buy back.
Just my thoughts .............|
|great news hopefully they authorise more than 14.9% if this doesn't work. though I imagine just the threat of 15% being bought should bring the price back to 850-900.
how was this authorised in June and we only hear about it today? and I wonder why they chose today to put it into effect. Interesting how the market has already been aware of this program coming into place for a few days. some sort of inside info there.|
|Well, well what a surprise as the managers come up with an independent broker to buy back up to 14.9%, less those shares which have been purchased over the past few months. The brokers will be making the decision so the fund is going to be slowing wound down and I expect with an altered investment policy.
Don't be short and any small investor who wants to get out can as there is a bottom under the price.
My gut feeling is that they want to get the discount back to say 10% so until we see the next set of results it can only be estimated to be around 850p so I have increased my selling price to 850p.
Thanks Mr Champ as you must have been watching what we have been saying on this BB.|
|RMDL RM Direct Lending has just started trading at a 3.5% premium, surprisingly.|