Pantheon Share Discussion Threads

[skyship] 27/9/2012 12:18

Damanko – you really should get out more. I know in the past you saw these threads as a reclusive idyll, but for many of us the B/b is a social media as well as an excellent source of factual material.

But why the Grumpy Old Man routine? Quite recently on the NRI & PE threads you were showing signs of sociability:

..."I've read and exchanged well natured comments with posters on other threads (perhaps you might look at the Private Equity Thread) who appear to be short term holders. Nothing wrong with that"...

Your posts rambled somewhat, rather like your beloved John Le Mesurier, however I would pick up on just one point and hopefully provide something of interest for you. There are indeed investment gurus on the ADVFN threads, certainly well-proven investment experts who can teach us all a thing or two about this game. Do yourself a favour and read FREE CAPITAL by Guy Thomas. You will find that many of the 12 interviewees compounding their portfolios at 25%pa are regular posters here. Simon on the SHA thread is one such.

By the way. The reason for the short post stating I had sold was that the next time I have something to say on PIN which might be of interest to a coterie of us who regularly inter-react, then I do so from a known position. Personally I would prefer to be a holder here – I was just wanting to raise my CASH level – a passing spell of nervousness and nothing else to sell.

[badtime] 27/9/2012 00:39

sarcasm is lowest form of wit so they say

[damanko] 26/9/2012 23:00

Thanks SBP, all posts are of course welcome.

This is a lightly read thread, thank God. And long may that continue. I don't consider Sky or myself - or any other posters to date - to be investment gurus (which Google will no doubt inform us means teacher or master).

I'll look forward to reading some more insightful messages from you, maybe to do with the company, the net asset value, the management, the way forward, possible tender offers, whatever.

Perhaps you believe these postings should be limited to people / investors telling us when they buy. And when they sell.

Now wouldn't that be fun.

Anyway, just ignore me, I'm merely a holder who bought in the late eighties at 80 odd pence, and have added to my holding over the decades when the NAV has been pretty much undervalued and ignored, and market sentiment has gone against private equity investment trusts.

Last comment: I like your moniker/handle. To wit:

Pike: "By the time we finish supper, it's always so late, you never leave our house until after I've gone to bed and then you're back early for breakfast before I'm awake. But what I can't understand is that I never hear you leave at night and I never hear you come back in." Wilson: "Well I let myself in and out very quietly" Pike: "You don't do anything else very quietly!"

Ah.........., John Le Mesurier, aka Sergeant Wilson, what a star. Go well anyway, and very best regards.

By the way, after getting home after visiting the pub, I had a coffee. Now that wasn't very interesting either.

damanko


Sorry - I'm adding a PS: Buy or sell when you think the time is right. As an investor it's your right, try not to depend on other people's views or comments. After all they're only buyers and sellers themselves. Just do your own thing, never mind others, whether you consider them sharp or not. Okay ..... rant over......... D

[stupidboypike] 26/9/2012 21:31

damanko, since SKY is one of the sharpest posters on here, I for one am very interested when he sells and I'm grateful for him sharing the info. Your shower, frankly is not quite so interesting.

Best regards

SBP

[damanko] 26/9/2012 20:25

Well.

Gosh.

Thanks for that Sky.

I'm sure holders of Pantheon International Participations welcomed that post.

I had a shower this morning.

Then went to the bank. Felt like raising my CASH level.

Ho hum. Could be time to think about getting a life, Sky, rather than post fairly witless comments. Leave that to me, I'm fairly accomplished at it.....

Now I'm off to the pub. At the end of the road I'll take a small turn, but a welcome turn nevertheless...

[skyship] 26/9/2012 19:14

Wanted to raise my CASH level - so sold @ 758p for a small turn; but a welcome turn nevertheless...

[skyship] 20/9/2012 17:39

Pantheon International Participations PLC ("PIP"), the quoted Private Equity
fund-of-funds investment trust, today announces an unaudited net asset value
("NAV") per share of 1,188.3p at 31st August 2012, an increase of 0.2% for the
month.

[skyship] 06/9/2012 18:23

Another buyback:

6 September 2012 - Transaction in own Redeemable Shares

The Company announces that on 6 September 2012 it purchased in the market
60,000 redeemable shares of 1p each ("Redeemable Shares") at a price of 745 pence per share for cancellation.

Following this transaction, there are 34,458,534 Redeemable Shares in issue,
none of which are held in treasury.

[damanko] 23/8/2012 08:06

I've known for some time that Foreign & Colonial IT had invested in Pantheon funds, however - until this morning I was unaware of the scale. My half year F&C report advises that their second biggest holding is in Pantheon Europe Fund V (57 million pounds) and 20th largest holding is in Pantheon Global Secondary Fund III (19.7 million).

Sounds good enough to me....

[skyship] 06/8/2012 16:46

Breakout looks to be confirmed...

[skyship] 05/8/2012 11:53

100k trade at 730p on Friday PM. Hope that may prove to be another buyback coup...

[skyship] 02/8/2012 17:06

It is now looking increasingly likely that, without a general Market sell-off, PIN has completed its retracement and consolidation and is now set to break back above the 50day MA. This would confirm a recovery back to the 780p resistance, ie 6% upside from here.

I topped up again today, taking me up to an 8% allocation.

[skyship] 01/8/2012 17:35

Transaction in own Redeemable Shares

1 August 2012

The Company announces that on 1 August 2012 it purchased in the market 195,000
redeemable shares of 1p each ("Redeemable Shares") at a price of 730 pence per
share for cancellation.

Following this transaction, there are 34,518,534 Redeemable Shares in issue,
none of which are held in treasury.
=====================================

A great deal for PIN shareholders; but you have to wonder what sort of wally fund manager sells £1.4m of PIN equity at a 37.6% NAV discount!#?/~

[skyship] 26/7/2012 07:23

That's more like it - NAV increases to 1193.5p, so at 715p we are again trading @ a 40% discount. Also news that from August we will receive monthly NAV statements. No news of another tender offer.

=============================================
Net Asset Value at 30th June 2012

The Board of Pantheon International Participations PLC ("PIP"), the quoted
Private Equity fund-of-funds investment trust, today announces an unaudited net
asset value ("NAV") per share of 1,193.5p at 30th June 2012, an increase of
4.7% for the quarter and 8.1% for the financial year.
=============================================

[skyship] 24/7/2012 17:26

950k trade @ 712p. Hopefully a PIN buyback.

[skyship] 19/7/2012 17:31

Extract from my post on the PE thread:

# APEF continue to make progress toward that initial 70p target – now @ 67p & up just over 10% in July. Still on a 37% NAV Discount

# PIN – a softer market over recent weeks as they give back 38% of their 2012 rise from 625p to 784p. They are right to BUY again @ around the current 722p for a 37% NAV Discount. Further weakness back to the rising 200day MA has to be a possibility; but this is matched/negated by the possibility of another Tender Offer. Perhaps BUY half...then top-up on a 3% fall.

# NRI – Up 10% since my post of 22nd June I have recently confirmed with the Company that the seemingly high valuation on their holding in Kerridge Commercial Systems (20% of the portfolio) is actually a conservative valuation; and have accordingly topped up my holding of this trust in wind-up mode. Another Tender Offer is expected in the Autumn

Sector remains Good Value.
Best Buys – NRI & PIN (see chart below)
Strong Hold – APEF

[skyship] 20/6/2012 08:16

RAM - APEF Finals today - headline statistic perhaps being the dividend; so on top of the massive discount shareholders also have a yield. Are you tempted now perhaps?

I made a small top-up first thing...

[skyship] 19/6/2012 09:41

Switched some LMS (64.5p) into PIN (721.375p).

At this level PIN is on a 37% NAV discount. Will look to add @ c695p for a 39% NAV discount...

[skyship] 18/6/2012 11:36

Closely watching PIN after that earlier classic double-top. Offered @ 728.5p; but waiting for c.719p; though the weaker trend could take them back to the 50% retracement level @ c693p where they would meet the rising 200day MA.

LMS interestingly firm today - now @ 62p bid. Also HPEQ continuing to make steady progress ahead of Thursday's AGM and likely news of the next tender offer.

[rambutan2] 06/5/2012 02:09

Hi Sky,

I'm a much more static investor than you.

PIN still looks a pretty good buy to me, throwing off plenty of cash from a fairly mature port and with ever decreasing commitments. I'm happy to continue holding.

I've gradually sold out of HPEQ in recent months as its port became v concentrated, although still hold a few.

I bought a few FPEO as its board turned proactive.

I'm happy to watch APEF from the sidelines for the time being.

Am happy to hold MTH as illiquid and am confident will come good in the end.

III comes out with its prelims on 17th. I think board will have to come out with something to please shareholders and close up the 30% discount.

[skyship] 05/5/2012 18:51

Hi Ram - personally I'm out of these at the moment, though not happy in being so!

Still, I'm very happy with the 20% turn.

The PE plays are a mixed bunch - though overall they have out-performed the Market since I started the PE thread last December.

Currently I am once again very keen on HPEQ; and also on APEF.

MTH is proving to be somewhat of a dullard; but hopefully they will show some evidence of positive liquidation steps before much longer. Any views?

[rambutan2] 05/5/2012 13:20

Adds another few 100k to nav...

The Company announces that on 3 May 2012 it purchased in the market 100,000
ordinary shares of 67p each ("Ordinary Shares") at a price of 777.5 pence per
share for cancellation.

Following this transaction, there are 36,566,013 Ordinary Shares in issue, none
of which are held in treasury.

[damanko] 05/5/2012 09:49

Digital Look's current summary:

"Pantheon International Participations is in the equity investment instruments sector and is currently trading at 782.00p per share. In the last year Pantheon International Participations's share price has ranged from 602.00p to 789.00p and brokers are currently rating this stock as 'strong buy'."

[skyship] 26/4/2012 07:34

At the moment I'm out as PIN hit my target more speedily than anticipated and I expect a period of consolidation below 780p before further progress. So, watching and waiting to get back in...

Today's NAV figure of 1140p is lower than I personally anticipated. At 770p the discount has "retreated" to 32%.

[jaws6] 28/2/2012 08:38

news looks good