Third Advance Value Realisat Share Discussion Threads

[rambutan2] 29/1/2006 02:14

cr, these are geared, hence big jumps in nav. sort of a split cap.

[cockneyrebel] 27/1/2006 12:00

tough to get much stock brix, I struggled to get 5K and had to pay 3p premium.

They publish their NAV today or Mon which should be good the way small caps have performed this week - suspect that's why they have been marked up a tick today.

CR

[brixlaven] 23/1/2006 23:35

PS what can I buy at IYO.

[cockneyrebel] 23/1/2006 11:46

NAV just out - despite last weeks weakness NAV has risen to 98.94p

CR

[cockneyrebel] 23/1/2006 10:24

I'm not a huge fan of investment funds, I always think I can do better myself. But this one needs to be looked at.

The fund basically take stocks from larger institutions, those that have small amounts in companies that they are perhaps no longer interested in or can't justify the time pressuring the management to perform.

Funds may give TAR a chunk or all of the dregs of their small underperforming stocks in return for shares in TAR, or a bit of cash, or both. TAR management are apparently top guys in batting the management about in these small underperforming companies and getting them to perform. Large institutions like this fund as it frees them up of the small chunks of companies they have knocking around and it also helps get these stocks moving as the management know that TAR want results. The institutions also benefit by taking shares in TAR and as TAR grows they win too.

TAR have picked up some interesting holdings.

Dawson International, Lorien, Bede, Swallofield, UCM, Harvey Nash, Scapa and several more. All of these companies have been underperformers and if TAR can get a number of them moving the NAV could be set to soar.

The last NAV announcement was 98.73p, up from the 90.5p just 8 days prior.

TAR is currently trading around NAV but I suspect NAV is set to rise pretty strongly as these small underperformers recover and good performance may well see it trade above NAV too.

Seems like a fund were you can participate in the recovery of lots of underperfoming micro and small caps yet spread your risk while getting potentially top performance.

Worth a look imo.

Should apologise for the error in the title - the companyt nane is Third 'Advance' Value Realisation Company - you know what I mean tho!

CR

[cockneyrebel] 17/1/2006 14:41

TAR - just announced valuation, NAV has risen 10% in a fortnight to 98.73p.

DWSN's break out will no doubt add more over the next few weeks :-)

CR

[jonwig] 16/1/2006 09:08

The prospectus is here, might be worth putting the link into the header:



The Company is being launched as a new investment trust with the objective of providing value and liquidity to investors. It will acquire UK Listed Securities or Formerly Listed AIM Securities. As consideration for such securities the Company will issue Ordinary Shares and Redeemable Preference Shares at a price of 100p each in units comprising three Ordinary Shares and seven Redeemable Preference Shares. The Company follows the successful model of Advance Value Realisation Company Limited and Second Advance Value Realisation Company Limited, both of which were managed by Progressive Value Management Limited, which has been appointed to manage the Company's portfolio.
The placees of ADVARC and SAVR were principally UK institutions. The Directors believe that there continues to be demand for a company which provides institutions with the opportunity to:
" focus resources on core investments;
" dispose of non-core holdings and recycle the proceeds realised from them; and
" rationalise their portfolios to improve efficiency.

(Page 3). So they don't buy stock in the market, but direct from institutions.

[jonwig] 15/1/2006 15:33

I did a fair amount of research on Bede Group [BED] and concluded they were a speculative asset play with a fair chance of being taken out by a group with the muscle to profit from their technology (which is pretty good stuff, I think).

The fact that TAR had accumulated a holding swayed me to get into BED with them.

[cockneyrebel] 15/1/2006 15:18

I reckon this is an exciting fund to have a stake in myself.

I'm holding IVS, DWSN and MACF all mentioned in the article too so it seems we might have similar investment criteria.

CR

[cockneyrebel] 13/1/2006 15:03

I quite like bombed out stuff, little expectations so not much in the price.

Look at their buy of SWL - looks like they have pick those upat around 40p. Market Cap £5.6m, about £12m in tangible assets. If they turnaround from loss to profit they look very cheap to me.

CR

[liarspoker] 12/1/2006 14:35

Well I see that they have a stake in Jo(u)rdan and I'd be happy if I could get a little bit of my stake in there. 8-)

However it seems to me that they are banking on recovery plays, several of which have downbeat forecasts ie: trade not up to expectations

These are Bede & Swallowfield. The graphs look horendous on some of the plays as well.

Also it's interesting to note that TAR bought into Advanced Power Comp. just after Eagle Investment sold their stake.

I'm not too sure whether these companies can be turned around with the economy looking the way it is. If the companies are in trouble now what would happen during a recessionary period ?

Bull points most welcome.

Edit: Hybrasil - could you please add the news into the header. TIA

[cockneyrebel] 12/1/2006 13:27

Well I've bought in today.

They look like they have picked up 30% of DWSN via CFD's which should mean they are geared up just like CFD traders.

If £6.5m worth of the company is their's for £650K then a 10% rise in the stock price should add about 100% to their holding value. If DWSN doubles then their holding will rise from £650K to around £6.5m

Looking at the rest of the holdings they have a lot of other interesting bits like Swallowfield and Whitehead Mann and others via conventional shareholdings.

If trade is increasing around the world there could be some big recovery and value outed from this one I think.

Very illiquid and hard to get stock.

CR

[hybrasil] 09/1/2006 16:23

I am alarmed to see that I have holdings in nearly everything this thing has holdings in
I will add to this thread anon