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APEF Aberdeen Prv

2.00
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Aberdeen Prv LSE:APEF London Ordinary Share GG00BFMDJ822 STERLING PART SHS NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 2.00 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Aberdeen Prv Share Discussion Threads

Showing 51 to 75 of 225 messages
Chat Pages: 9  8  7  6  5  4  3  2  1
DateSubjectAuthorDiscuss
02/7/2012
13:40
Certainly today's trades suggest the cheap stock now gone. The next buy might well raise the bid level...
skyship
02/7/2012
08:58
bit of upside with limited downside and yield? looks worth buying to me.
14.07: by the tades others do as well.

elmfield
01/7/2012
08:37
Thnx Alan - the 2nd worked for me. Clearly shows the divergence between the NAV growth and the share price weakness.
skyship
30/6/2012
17:35
Very strange - try this



or go here



and click on the link for "chart performance" (top right) and set to 6 years

alanji
29/6/2012
19:55
Alan
Now I remember this I was there on that LPEQ meeting and have got hard copy on this too,
Not Working for me either , link below .any other link ? Tks.

jaws6
29/6/2012
16:54
Sky - it is working for me - takes a while to load sometimes, though.
alanji
29/6/2012
16:41
Alan - the tinyurl link seems not to be working...
skyship
29/6/2012
08:47
The last nav was 107.64 at 31 May up 3.4% on the previous month. At 59p that represents a 45% discount – in my view too high for the following reasons:

-Most of the investments are well established with three quarters made in 2006/7 and most of the rest in 2008/9. This means the companies are less likely to fail than if they were 'new' investments.

-Both asset values and the share price were badly affected by the 2008/9 financial crisis. Asset values fell about 20% (very good compared to some competitors) but the share price was down 60% at one point. nav has grown fairly steadily since May 2009 but the share price has lagged behind. – see graph

-Asset allocation is mostly global (39%) and North America (32%) with only an 18% exposure to Europe

-No borrowings

-The Co has declared a dividend of 2pps as it is now receiving distributions from many of its investments – see below – probably in an attempt to reduce the nav discount

-There was a tender offer in May 2011, mainly to take out the then largest shareholder . As a part of the offer (probably demanded by other large shareholders) "the Board will commit to put forward a continuation vote as an ordinary resolution at the Annual General Meeting in 2013 and every third Annual General Meeting thereafter. " If the discount has not narrowed by then I expect either the vote will not carry or there will be pressure on the co to make further distributions.

More information and a monthly factsheet can be found on the co website www.aberdeenprivateequity.co.uk

More information on PE co's, including a note on APEF, can be found here

I topped up on Wednesday.

"The Board has decided to put in place a distribution policy whereby the Company returns a proportion of the distributions that it receives from its investments by way of dividend to shareholders. The Board intends to distribute approximately 10% of the received distributions each year. As the level of these will vary from year to year the Board has decided that it will pay at least 1p per annum, regardless of the distributions received. Accordingly, for the first time, your Board is very pleased to be able to declare an interim dividend of 2.0p per Share which will be payable on 20 September 2012 to Shareholders on the register on 17 August 2012"

alanji
28/6/2012
09:07
All much appreciated, I am giving it some thought, just being ultra careful in this market.
elmfield
28/6/2012
07:43
Incidentally, take a look at the link provided by AlanJI in post no.343 on the HPEQ thread. In the presentation you will see the PE Benchmark which has performed very well YTD - hence the rise in the APEF NAV:
skyship
28/6/2012
07:40
KT - thnx for the above.

Yes Elmfield - APEF is a Fund of Funds investment; which therefore provides massive diversification. Lower risk than a trust investing directly into companies; however therefore less opportunity for a dramatic winner such as Notemachine for HPEQ or Kerridge for NRI.

Still, due to the lower Risk profile one would expect a Fund of Funds to trade at a lesser NAV discount than its peers. The 45% discount here represents an anomaly to be exploited...

skyship
28/6/2012
07:31
Ok, each holding is a fund, a bit like an investment trust. If you look up that trust you will see that it holds companies which will in most cases be private companies a bit like a VCT.

Below is a link to Northzone which we hold in our portfolio and you can see it is made up of a lot of private companies.

killing_time
28/6/2012
07:16
thank you, ues I saw that but anyone know excactly what the stuff is? if you get my drift?
elmfield
28/6/2012
07:08
elmfield, click on this link to see the holdings.



You can hold these shares in an ISA, hope this helps, KT.

killing_time
27/6/2012
17:24
I read the report, hard to work out what excactly the holdings are! as ever with private equity, however it goes look worth buying at this price so may buy a few tomorrow, assume they can be held in an ISA.
elmfield
27/6/2012
16:46
An excellent declaration by low profile APEF:

As at the close of business on 31 May 2012, the Net Asset Value of Aberdeen Private Equity Fund Limited was as follows:-

........................ 31 May 2012. 30 April 2012
..............GBP Shares 107.64pence 104.06pence +3.4%
----------------- ----------------- ------------

The stock is on offer @ 58.85p, that is a 45.3% NAV discount.

Bearing in mind the Sept'2013 Continuation Vote and the Share Buyback Scheme which will kick in again after the next shareholder approval, APEF looks to be a really attractive buy, especially whilst they can be bought under 60p...

The Annual General Meeting of the Company will be held at 2.00 p.m. on 17 September 2012

skyship
27/6/2012
12:17
The NAV has gone up by 3.4% in May.
NAV on 31st May is now 107.64p.

killing_time
20/6/2012
15:12
Bought a few of these today for the first time and tucked away in my isa. A discount of 44% is a bit stupid, as you say SKYSHIP with the continuation vote in 2013. Div of 2p on the 17th Aug and no stamp duty is a bonus. KT.
killing_time
20/6/2012
06:34
Loads of info to plough through in the Annual figures (see header), but obviously the headline statistic is the 2p Interim Dividend - great news, we now have a yield. Also NAV @ 31st March is shown @ 105.8p - much higher than the previously declared figures - don't understand that one yet.

Also Board continue to be concerned at the high NAV discount - as well they should be with a Sept'13 Continuation Vote to win!

skyship
03/6/2012
16:40
Crazy discount
lionheart79
01/6/2012
06:27
As at the close of business on 30 April 2012, the Net Asset Value of Aberdeen Private Equity Fund Limited was as follows:-


Share class Net Asset Value Net Asset Value Performance
30 April 2012 30 March 2012
------------- ----------------- ----------------- ------------
GBP Shares 104.06 pence 101.45 pence +2.57%
------------- ----------------- ----------------- ------------

skyship
30/5/2012
08:09
875k traded @ 58.5p - a lumpy buyback perhaps...

...and why wouldn't they at a 44% discount to the 104p NAV!

skyship
09/5/2012
17:40
And another 25k:

Transaction in own shares

Aberdeen Private Equity Fund Limited (the "Company") announces that, on 9 May 2012, it purchased for cancellation 25,000 sterling shares of no par value at a price per share of 59.5 pence.

skyship
08/5/2012
17:11
APEF continues to hoover up any stock coming their way up to 60p:

==============================================
Transaction in own shares

Aberdeen Private Equity Fund Limited (the "Company") announces that, on 8 May 2012, it purchased for cancellation 10,000 sterling shares of no par value at a price per share of 59.5 pence.

The purchase and cancellation will reduce the total number of sterling shares in issue to 109,248,199. The Company holds no shares in Treasury.
==============================================

skyship
25/4/2012
19:33
took a nibble first up
badtime
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