Chelverton Uk Dividend Share Discussion Threads

[envirovision] 18/8/2014 17:36

I have taken some back in as well, if it don't drop further it will be a good income in a few years time for sure

[dr biotech] 18/8/2014 16:51

Currently at a 6.5% discount to NAV - last month it was actually much closer and I think at one point was at a premium. So the drop in the price is largely due to sentiment rather than the value of the underlying assets. Think I will take a few of these.

[skinny] 14/8/2014 17:07

Authorisation of Alternative Investment Fund Manager ("AIFM")

The directors wish to announce that the Company has been authorised as an
Alternative Investment Fund under Regulation 9 of the European Communities
(Alternative Investment Fund Manager) Regulations 2013 (the Regulations) with
effect from 13 August 2014. The Company will act as its own manager for the
purposes of the Regulations, but the investment management of the portfolio
will continue to be conducted by Chelverton Asset Management Limited.

[plasybryn] 28/7/2014 15:44

Aleman: Have I asked you if you also hold ATY - Athelney Trust - part of the Chelverton funds

[plasybryn] 16/7/2014 17:21

If we consider Acorn Investment Trust (AIF) to be very similar to SDV, I suspect AIF offers slightly better value due to the larger discount (7.71%) that has arisen following the recent death of one of the Fund Mgrs (team of three). The discount for SDV is 2.17%.

[scottishfield] 16/7/2014 11:48

V good to see this going up again as I've bought/ am buying some at these levels

[plasybryn] 15/7/2014 16:46

Aleman: Thanks for your comments and Charts.
I had not come across Manx before. Looks interesting and nice chart, but noted debt.
ALAI & BRCI look sensible suggestions.

[aleman] 15/7/2014 15:20

Here's those charts again with a slightly shorter timescale to put more emphasis on where we are now:

FTSE Small Cap index


FTSE Mid caps


To mix a few of metaphors, the government will be pulling as many strings as possible to keep those plates spinning. So what happens after the election? Whoever wins will want to ease off a bit to leave a bit of spare throttle for 2019. 2015 is likely to see a restrictive budget, I suspect, and whoever is in will spin the economic news downward to justify it.

[aleman] 15/7/2014 15:14

SLI looks a reasonable prospect but I think I'd rather buy it at the bottom of the market rather than now. It's near 45% gearing (targetted limit from the prospectus) would magnify any downturn, as would the fact it floated with voids at the very low rate of 0.7% (again, from prospectus). Normally , one could expect this to expand a bit in the normal scheme of things and make the numbers looks slightly less flattering. Obviously a downturn could also magnify the voids effect, with the gearing then magnifying the hit again. Not for me just now, I think. At the tail end of a long bull run, I'm looking for defensives, or shares in markets that haven't had a long bull run, or shares that will benefit if and when the £ weakens again.

My last few purchases have been ALAI and BRCI, both of which are only just starting to recover and would benefit from a weak £, and MANX and PHNX, both of which should be pretty solid defensives. (PHNX is arguably countercyclical as its business is of a longer nature than economic cycles and a slowdown and resulting lower rate outlook would push it's yield down, lifting the shares. It's nice to have a share like this in one's portfolio after a long bull run as it helps one to sleep at night.)

[plasybryn] 15/7/2014 14:42

GARYCOOK:
I had a look through your list. Quite a few in a down trend but I like
HGM (Highland Gold), BKG (Berkeley Group), CLIG, & GVC all of which I hold.

AML, FCRE & FLG & GLIF worth keeping an eye on, as we get nearer ex dividend date.
Thanks for your comments.

GVC Holdings produced a great update again today.
Telecom Plus (TEP) also continues to do very well, although yield has fallen due to share price performance. But still a nice all round stock from these sort of levels IMO.

Hoping to get Aleman's comment on SLI. I note FCRE is a similar stock.

[garycook] 13/7/2014 09:40

Plasybryn and Aleman.Holding SLI yielding over 6%,but there is offer at 72.50, which will be confirmed on the 16/07 payable on 22/07 and start trading on 30/07,also take look at ALY,BRIT,HGM,HSD,IAP,NBU,PHNX,TLPR for high yield,do your own research,also holding ADM,AML,BKG,CWC,CGL,CNA,CLIG,FCRE,FLG,GSK,GLIF,GVC,HSBA,MRW,NG,SBRY,SSE,TSCO,VOD all yielding 5% and over.Good luck

[plasybryn] 12/7/2014 16:42

Aleman: I see SLI pays a 6% dividend quarterly. Is this one you have considered?

[envirovision] 10/7/2014 12:51

Well ASCH crashed through the 200 without any fuss, so I wouldn't count on trading it either way.

I think the 20/50 ma will be the one to watch for the next decent golden cross.

That could be a while away

[topvest] 09/7/2014 21:01

Getting closer to the 200 day moving average so should bounce or fall sharply. Hopefully a bounce.

[lord gnome] 09/7/2014 16:59

I'm out. Sold my remaining shares this morning at 182. It has been a very profitable ride from 80p. No complaints whatsoever. Time to move on. Looking for other high(ish) yielding shares and there are plenty about at present paying 5% plus. Good luck to all that remain.

[plasybryn] 09/7/2014 10:16

Aleman: Thanks for your comprehensive and helpful reply.
I am holding onto my SUS shares which pay a tidy dividend and my GVC shares.
Also hold Berkeley Group (BKG) for long term. Capital being returned.
Sticking with CLIG, & SHRS
Like OPG, & CEY for growth - Both promising a maiden dividend later in 2014

[aleman] 08/7/2014 21:14

I bought MGHI at 47p where I thought it looked good value but I am slightly underweight in it. I'm not sure if I would buy afresh or top up at the current level with the market feeling toppy thanks to the strong £ and the gearing makes one nervous as the winding up date becomes less distant. (There is scope for the B of E to reverse its comments about short term rate rises. I think this may well happen with some UK orientated stocks tiring.) Get the £ back to $1.55 and Euro1.15 and there could be scope for a little more progress but this bull market is still getting tired.

I have recently sold out of SDV completely. I bought SDV originally because it held many stocks I was considering buying for myself so it spread the risk and the gearing provided an enhanced yield and capital gains as markets recovered. Now, I am struggling to find anything cheap enough to buy so SDV does not hold shares I wish to buy and only has a modest yield and gearing that could aggravate any downturn. There is still a potential diversification benefit although diversification isn't necessarily a benefit if there are only a few shares worth buying in an expensive market. Diversifying then is just infilling with overpriced shares that could fall. (MGHI has similar issues to SDV for me except that the larger caps with more foreign earnings probably have a bit further to run on a global recovery that is not as mature as the UK recovery.)

Yes, GVC are doing well but that doesn't matter so much to me so long as the results and dividend are good. I buy shares to hold, although I will switch for something better if they go up enough. But I have already said, I see little else worth buying at the moment and GVC still look pretty good value if I am anticipating their growth in Latin America correctly..

[plasybryn] 08/7/2014 17:55

Aleman:
Can I ask please?
1. Have I asked your view on MGHI ?
2. Are you reducing you holding in SDV in light of market trend?

I see GVC continues to look strong ahead of trading update next week after close of World Cup.

[aleman] 03/7/2014 12:46

SMALL COMPANIES DIVIDEND TRUST PLC

The Company announces:

Total Assets (including unaudited revenue reserves at 30 June 2014)
of GBP40.06m

Net Assets (including unaudited revenue reserves at 30 June 2014) of GBP30.60m

The Net Asset Value (NAV) at 30 June 2014 was:

Number of shares
in issue
Per Ordinary share (bid price) - including
unaudited current period revenue* 184.89p 16,550,000
Per Ordinary share (bid price) - excluding
current period revenue* 181.25p
Ordinary share price 183.75p
Discount to NAV (0.62)%
Ordinary shares have an undated life

ZDP share 111.31p 8,500,000
ZDP shares are held in a subsidiary and have a redemption date
of 8 January 2018

*Current period revenue covers the period 01 May 2013 to 30 June 2014, including
a one off special dividend from Avesco PLC of GBP500,500 equivalent to 3.02 pence
per Ordinary share.


Top 20 Holdings as at 30 June 2014 was:


Name of company % of portfolio

1 KCOM Group 2.32
2 Connect Group 2.28
3 Jarvis Securities 2.25
4 GVC Holdings 2.19
5 Braemar Shipping 2.17
6 Clarke (T) 2.16
7 Marshalls 2.15
8 Personal Group 2.08
9 S & U 2.03
10 St Ives 2.03
11 Marstons 1.99
12 Cineworld Group 1.96
13 Town Centre Securities 1.93
14 Randall & Quilter 1.85
15 Tritax Big Box 1.82
16 Go-Ahead Group 1.78
17 Dairy Crest Group 1.77
18 MacFarlane Group 1.76
19 Ladbrokes 1.75
20 Alumasc Group 1.75
Balance held in 57 holdings 59.98
100.00

[aleman] 25/6/2014 12:21

Similar funds won't be doing much better. It is a market trend. Small and midcaps are running out of steam. The strong pound and rising oil price seems to be squeezing UK business a little bit. Profit growth has evaporated (outside bubbly housing-related stocks) and dividend growth is flattening off. Large caps feeling a little pressure then tend to squeeze the small and midcaps so that they feel it harder. It's time to move into large caps/defensives or move out of the UK, I think. I've been doing so for a few months. (Some might even move into cash but that's not usually my style. I tend to ride the market down. I don't mind trading the falls so long as my dividend income goes up even as share prices fall. I made some huge increases in dividend income in the 2008/9 recession.)

FTSE Small Cap index


FTSE Mid caps

[plasybryn] 25/6/2014 12:19

Trouble is, what other similar funds are doing better?
Poor old Acorn (AIF) has taken a hit following the recent Fund Mgr death.
NAV record this year similar to SDV.
Perhaps a lower risk fund like Troy Income or TIGT is a better better for some diversification in this market.
Shires Income (SHRS) goes ex dic on 3rd July & CLIG on 5th July.

[aleman] 25/6/2014 12:14

It's been quite a run but it's beginning to look a bit toppy.

[skinny] 24/6/2014 12:33

The Company announces:

Total Assets (including unaudited revenue reserves at 20 June 2014)
of £41.08m

Net Assets (including unaudited revenue reserves at 20 June 2014) of £31.63m

The Net Asset Value (NAV) at 20 June 2014 was:

Number of shares in issue
Per Ordinary share (bid price) - including unaudited current period revenue* 191.13p 16,550,000
Per Ordinary share (bid price) - excluding current period revenue* 182.60p
Ordinary share price 190.75p
Discount to NAV (0.20)%
Ordinary shares have an undated life

ZDP share 111.14p 8,500,000
ZDP shares are held in a subsidiary and have a redemption date
of 8 January 2018

*Current period revenue covers the period 01 May 2013 to 20 June 2014, including
a one off special dividend from Avesco PLC of £500,500 equivalent to 3.02 pence
per Ordinary share.

[plasybryn] 23/6/2014 10:57

Don't forget the Dividend declaration released on 19th June. Goes ex dividend on Wed. and paid out on 10th July (inc. special dividend).