Chelverton Uk Dividend Share Discussion Threads

[skinny] 06/5/2015 14:35

I don't know if its an age thing, but to me - this has been the worst election campaign by all parties and the press has been embarrassing to put it mildly.

[dr biotech] 06/5/2015 14:31

I think they were founded in 1981. To be honest the standards at the Telegraph have really fallen over the last couple of years. Its becoming more like the Daily Mail. Their election coverage has been so one sided its not worth reading.

[skinny] 06/5/2015 13:47

Worrying - that article says "Peter Hargreaves co-founded the company in 1991" - I bought shares and unit trusts through them as far back as 1984.

[skinny] 05/5/2015 14:03

The Company announces:

Total Assets (including unaudited revenue reserves at 30/04/2015) of £42.28m

Net Assets (including unaudited revenue reserves at 30/04/2015) of £32.35m



The Net Asset Value (NAV) at 30/04/2015 was:

Number of
shares in
issue:

Per Ordinary share (bid price) - including 195.46p 16,550,000
unaudited current period revenue*

Per Ordinary share (bid price) - excluding current 190.97p
period revenue*

Ordinary share price 162.25p

Discount to NAV (16.99)%

Ordinary shares have an undated life

ZDP share 116.84p 8,500,000

ZDP share price 126.00p

Premium to NAV 7.84%

ZDP shares are held in a subsidiary and have a redemption date of 08/01/2018


*Current period revenue covers the period 01/05/2014 to 30/04/2015



Name of company % of
portfolio

1 Acal Plc Ordinary 5p 2.78

2 Connect Group Plc Ordinary 5p 2.52

3 Clarke (T.) Plc Ordinary 10p 2.50

4 Alumasc Group (The) Plc Ordinary 2.31
12.5p

5 Kcom Group Plc Ordinary 10p 2.19

6 Dairy Crest Group Plc Ordinary 2.17
25p

7 Town Centre Securities Plc REIT 2.15
25p

8 GVC Holdings Plc Common EUR0.01 2.10

9 Braemar Shipping Services Plc 2.09
GBp 10

10 Marston's Plc Ordinary 7.375p 2.07

11 Avesco Group Plc Ordinary 10p 2.00

12 Epwin Group Plc Ordinary 10p 1.98

12 Stadium Group Plc Ordinary 5p 1.98

14 Wilmington Plc Ordinary 5p 1.93

15 Intermediate Capital Group Plc 1.88
Ordinary 20p

16 Macfarlane Group Plc Ordinary 1.84
25p

17 Majestic Wine Plc Ordinary 7.5p 1.81

18 Personal Group Holdings Plc 1.80
Ordinary 5p

19 DX Group Plc GBP0.01 1.71

20 Photo-Me International Plc 1.65
Ordinary 0.5p

[my retirement fund] 29/4/2015 10:56

Reported NAV out 195.94p

Looks like post 635 was correct. They seem to have dumped the shoe zone holding now. There are a few new ones added this qtr including Epwin, Photo Me. The Majestic Wine one which may prove to be a timely addition.

Name of company % of
portfolio

1 Acal Plc Ordinary 5p 2.80

2 Clarke (T.) Plc Ordinary 10p 2.57

3 Connect Group Plc Ordinary 5p 2.45

4 Alumasc Group (The) Plc Ordinary 12.5p 2.29

5 Kcom Group Plc Ordinary 10p 2.21

6 Dairy Crest Group Plc Ordinary 25p 2.16

7 Town Centre Securities Plc REIT 25p 2.16

8 GVC Holdings Plc Common EUR0.01 2.12

9 Marston's Plc Ordinary 7.375p 2.10

10 Braemar Shipping Services Plc GBp 10 2.06

11 Avesco Group Plc Ordinary 10p 2.00

11 Stadium Group Plc Ordinary 5p 2.00

13 Epwin Group Plc Ordinary 10p 1.98

14 Wilmington Plc Ordinary 5p 1.97

15 Intermediate Capital Group Plc Ordinary 20p 1.94

16 DX Group Plc GBP0.01 1.86

16 Macfarlane Group Plc Ordinary 25p 1.86

18 Majestic Wine Plc Ordinary 7.5p 1.82

19 Personal Group Holdings Plc Ordinary 5p 1.80

20 Photo-Me International Plc Ordinary 0.5p 1.71

[taylor20] 22/4/2015 19:47

Pretty sure Enviro has taken gearing into account since SHOE is 1.85% of the portfolio (i.e. 1.8% of the £42.59m), roughly 2.2% of NAV £32.59m.

Fairly decent yield at these levels should provide support, they have got 6p of revenue to distribute, maybe another special?

[dr biotech] 22/4/2015 15:33

Don't think the calculation is that simple enviro. Don't they have a high gearing here? If gearing is 100% then a 1% drop in a holding would be 2% of NAV. Either way this trust is really out of favour.

[essentialinvestor] 21/4/2015 13:38

Looming GE folks is my view on the share price FWIW.
The current price now discounts a lot unless markets plunge.

[envirovision] 21/4/2015 13:27

Shoe zone is 2.2% and makes 4.25pence of the NAV. Todays performance will wipe just over a penny off of the NAV.

Markets have done nicely this week so the actual NAV will be even higher than the last reported NAV.

Markets are treading water today yet share price down 3 pence and discount to nav will be getting really stupid now.

[dr biotech] 21/4/2015 11:59

30% drop in Shoe zone isn't helping sentiment here. Thats one of the larger holdings.

[envirovision] 20/4/2015 11:20

NAV at 10/04/2015 was:

Per Ordinary share (bid price) - including 196.47p
unaudited current period revenue*

Per Ordinary share (bid price) - excluding current 192.9p
period revenue

Ordinary share price 164.50p

Discount to NAV (16.27)%

[huttonr] 17/4/2015 09:23

I've bought as well this morning - tho' the buy was seen as a sale in the trades list.

[skinny] 16/4/2015 16:47

Or to put it graphically!

[contrarian joe] 16/4/2015 10:38

EI, that is one of the hardest parts of investing, what are the alternatives in the current environment,similar funds to them,the index it trades in,bank rates,bonds,gold etc.from the funds perspective has it the resources to gear up (buy back stock to narrow the discount)with cheap debt.looking at the top 20 holdings they seem good value orientated stock pickers with a good concentrated portfolio of only 57 stocks,which with time should comfortably beat it's indices on a total return basis,we all of course have different time scales,risk levels, views etc.

[taylor20] 15/4/2015 18:51

Well for better or worse doubled my holding today, NAV should have pulled away even further by my reckoning. Bit overdue for a NAV update though?

[essentialinvestor] 15/4/2015 18:44

Depends where we are in the cycle imv, if this is mid cycle these are very
cheap, if it's late cycle then not so much.
I appreciate many are looking at long term dividend compounding here,
so expect some will just be happy to buy and hold.

[envirovision] 15/4/2015 11:16

The EU should start to motor next year pulling a lot of the smaller companies up. The EU is the biggest customers of many in the portfolio.
The political risks are big though and will really knock sentiment.
I think you need to be in SDV for the longer term dividend growth, even better with dividing compounding if you can.
Those who are here hoping for better returns by equity appreciation are probably in the wrong fund.

[dr biotech] 15/4/2015 09:19

I cant see the discount to NAV getting much wider, so it would be a buy on that point. The underlying investments however are much harder to predict. Wouldn't surprise me to see the FTSE around 7500 at some point this year. Just QE looking for a home, rather than a proper improvement in the companies listed.

[essentialinvestor] 15/4/2015 09:07

Well I said a retest of 170 a couple of months ago and that is what we got,
can't call it from here tbh.

[wirralowl] 15/4/2015 09:04

Like it or not, the relatively high PE ratios of the mid/small caps (as highlighted by contrarian joe's post 617)could well be holding SDV back now, and possibly explain the discount to NAV. If there was a market correction, I suspect those with the loftiest valuations would be hit the hardest, though the discount to NAV might provide a buffer of sorts? Its a similar story at Acorn from what I can see.

[essentialinvestor] 14/4/2015 18:42

I notice they hold a few PHTM enviro.

[envirovision] 14/4/2015 18:39

Its very odd, but then as medium to longer term investors we rather than grumbling should be taking the opportunity to fill our sips and pensions in the next tax year surely?

A few years down the line, for any longer term holder the yield will soon cancel out any share price under performance and all things being equal the share price will have to reverse then.