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CGT Capital Gearing Trust Plc

4,695.00
-10.00 (-0.21%)
28 Mar 2024 - Closed
Delayed by 15 minutes
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
Capital Gearing Trust Plc is listed in the Unit Inv Tr, Closed-end Mgmt sector of the London Stock Exchange with ticker CGT. The last closing price for Capital Gearing was 4,705p. Over the last year, Capital Gearing shares have traded in a share price range of 4,325.00p to 4,850.00p.

Capital Gearing currently has 25,682,435 shares in issue. The market capitalisation of Capital Gearing is £1.21 billion. Capital Gearing has a price to earnings ratio (PE ratio) of -23.49.

Capital Gearing Share Discussion Threads

Showing 8426 to 8448 of 8450 messages
Chat Pages: 338  337  336  335  334  333  332  331  330  329  328  327  Older
DateSubjectAuthorDiscuss
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/Treasuries, or CGT/RICA/PNL.

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
Chat Pages: 338  337  336  335  334  333  332  331  330  329  328  327  Older

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