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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Capital Gearing Trust Plc | LSE:CGT | London | Ordinary Share | GB0001738615 | ORD 25P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-10.00 | -0.21% | 4,695.00 | 4,700.00 | 4,710.00 | 4,715.00 | 4,695.00 | 4,695.00 | 119,371 | 16:35:11 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Unit Inv Tr, Closed-end Mgmt | -43.51M | -51.39M | -2.0010 | -23.49 | 1.21B |
Date | Subject | Author | Discuss |
---|---|---|---|
25/3/2024 14:05 | Buying back in size, albeit I wish they'd do so lower to add more NAV, but also good to see the cum-NAV top £48. | spectoacc | |
22/2/2024 07:29 | From daily buy backs of c.2,000 shares, it was 39k & 27k in the two days reported post-court approval. Is it going to become relevant that the max is c.3.1m? It's not all that many months at that rate. | spectoacc | |
19/2/2024 14:08 | "The 101p gain to £46.36 puts the shares back close to the 2% discount at which they stood at the end of October when an administrative error delayed the reclassification of its share premium account into distributable reserves." So perhaps a little more to go still. | spectoacc | |
14/2/2024 12:14 | OK I didn't read this: "The Order of the Court approving the cancellation (the "Order") will only become effective once it has been registered with the Registrar of Companies in Northern Ireland. The Order is in the process of being submitted for filing with the Registrar of Companies and is expected to be registered shortly. The Board will make a further announcement to the market in due course to confirm the date on which the current operational restrictions on share buybacks under the DCP will be lifted." So I assume the buy backs still aren't able to be done in the size to get it back within a % or two of NAV. In which case, there's surely easy money to be had here - but less so when considering stamp/spread. | spectoacc | |
08/2/2024 16:37 | I'd expected the discount to NAV to close to zero once full buy-backs were permitted again - what am I missing? Doesn't look to have come in at all. | spectoacc | |
18/1/2024 17:25 | Doing my self assessment.1st time with profit on shares for the year. Was a £10k investment. Is well within the £12k cgt limit. Do I still need to show on tax return as no cgt is due? | red nutter | |
18/1/2024 04:28 | Post a question and someone may come in to help. | zangdook | |
18/1/2024 04:23 | Is this thread still alive? | red nutter | |
20/12/2023 17:37 | Still on a reasonable discount though for this trust | panshanger1 | |
20/12/2023 17:36 | Good call @SpectoAccSeems to have rediscovered its poise here | panshanger1 | |
16/12/2023 05:14 | Watch for more detail on house views on linkers and other bets: [...] sorry, link won't show. Use the CGAM link in header and go to Insights page. | rambutan2 | |
16/12/2023 04:16 | A very slightly humbled Mr Spiller is very keen on linkers: | rambutan2 | |
15/11/2023 16:29 | CGAM have a webinar at 10am tomorrow as they are launching a new index linked bond fund. | topvest | |
15/11/2023 16:27 | That's a big stake indeed. I am starting to build a position in my SIPP. I keep my ISA for dividends, but this is ideal for a SIPP to build at a pretty safe 5-10% per annum with the 40% tax relief on-top. Markets seem to have caught everyone unawares in the last week. Risk on and fear of missing out is back. I'd be surprised if there isn't a recession in 2024, but the goldilocks soft landing is still a possibility! Either way this is a safe bet once the DCM is back. I'm only building slowly as the discount could widen further over the next month. | topvest | |
15/11/2023 09:48 | Slept on it, & picked up a maiden holding of 5,000 well inside the spread. Possibly the triumph of hope over experience, but they could sort the discount control issue early next year - ie only months away. | spectoacc | |
14/11/2023 19:44 | Citywire, fwiw: I'm rarely in the wealth preservers, and delighted not to be the past couple of years, but had the great pleasure of meeting Jonathan Ruffer this week, albeit not to talk investing unfortunately. RICA's the only one I've currently a small holding in. If I can get over disappointment at the performance of RICA/CGT/PNL, I'm likely to see CGT's discount widening out as an opportunity. Yes, they may never reign it back in, but should they? I don't see the point of buying back your shares at par - why not buy them back at a discount and improve NAV? Imagine if they come back in great size when the discount is say 10%. Maybe that's the discount tail wagging the investment case dog. But I like their vast allocation to US TIPs - surely the wealth preservers can't underperform forever. And it really is underperformance - some of the benchmarks (like RPI+) are being missed by country miles. Dangerous to make predictions, especially about the future (H/t Yogi Berra), but a rally into Xmas to sell into, then a tricky decision on now to position for next year, that surely has either direct holdings of Linkers/TIPs/Gilts/T | spectoacc | |
31/10/2023 17:14 | It will certainly be interesting to see what happens here when they can't control the discount. They only bought 6k today. Peter Spiller is a great chap, but he must be incredibly frustrated with all of this. The RNS implies someone might have made some administrative errors, either at CGT or at the legal end. Not a great positive for NI being, maybe the only, Northern Ireland based listed company. I had a look at the Annual Report for last year and there was no mention of this as a risk or anything. It was not mentioned in the buy-back risk section. I guess the speed of the buy-backs and doom has caught them out...big time! When the markets lose confidence in the discount control mechanism, it will be difficult to regain confidence. The buy-back early in 2024 may have to be huge, which sadly could endanger this fantastic trust. The clock is ticking for performance to improve! | topvest | |
31/10/2023 16:20 | You gotta larf! The N Irish court service doesn't believe in speed, as they should have known. A number of managers must be sorely tempted to short CGT purely out of spite. A big pile of steaming humble pie must be on the menu for Peter Perfect... | rambutan2 | |
31/10/2023 16:03 | I will be buying the open ended version of the fund from now on (if I buy any of their funds at all). As for discount control I should have remembered the old rule 'If something sounds too good to be true...'. If the discount goes to double figures I may be tempted back. | cynicalsteve | |
31/10/2023 15:26 | For a trust focused on good governance it's a really big own goal. I think it will be difficult to recover from this, if they can't get performance positive by the end of the year. It will weaken their position lobbying other trusts. They will have to increase buy-backs massively if they end up with a big discount and another negative result. Not good. It's put me off buying now until the share price weakness starts to reverse. | topvest | |
31/10/2023 11:10 | You couldn't make it up the incompetence! | eh9 | |
31/10/2023 10:24 | Blimey - didn't see this coming! Lucky escape as I was thinking of increasing my position size. They are going to have a problem with the discount for a while then. This could be a massive error as once the discount opens up it will be difficult to reign it back in without buying most of the shares. Interesting that c40 years of capital gains and revenue reserves have been burnt through. As often is the case, the late investors to a successful trust have not done as well as the early birds! It looks like they have been caught out by the scale of the buy-backs needed over the last 6 months. A bit of an unforced error. It will definitely be very interesting to see what the discount expands to in the run up to Christmas. | topvest | |
01/7/2023 11:17 | Looks like david77 is indisposed. | sleveen1 |
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