Abrdn Diversified Income... Share Discussion Threads

[hindsight] 28/12/2022 16:46:01

Windup gets my vote, just need the chance to vote

[tiltonboy] 28/12/2022 15:56:20

I have already lobbied the board, and the broker about my wishes, but it looks unlikely to wind-up in the short-term, which was the only catalyst now the spineless directors have decided the DCM is no longer applicable!

[atlantic57] 28/12/2022 14:26:05

Tilton thank you I will correct my post but would welcome the bull case as I have a significant holding.

[tiltonboy] 28/12/2022 14:21:31

They have a large proportion in private markets not private companies. Infrastructure funds etc

Should still be wound-up though!

[atlantic57] 28/12/2022 13:39:16

Thrugelmir based on your summary I would say this was a strong sell.

You say that the market falls are a thing of the past .
You could be right , however many commentators are predicting big falls in the stock market in 2023.



Of course predictions are numerous and could be wrong.

The fact that they have a large portion in private markets in current market conditions does seem a major negative as you say they are highly illiquid investments.

What is the basis of the Bull case for Adig.

[thrugelmir] 28/12/2022 12:55:45

There's been a change of investment strategy in the past 6 years. Private markets are long term investments as highly illiquid. Always look under the bonnet before investing in a collective vehicle. .

[hohum1] 28/12/2022 07:10:19

The public / private strategy, which has been in place for 6 years, is not working. It should have been put into run-off.

[thrugelmir] 24/12/2022 17:58:34

With around 50% of the portfolio held in private markets. Further buybacks can only be at the expense of liquid quoted element. Reasonable dividend yield which is adequately covered. Given the portfolio is under going transformation. I'm happy to hold. Suspect the worst of the broader market falls are past. Selling now achieves little. Earnings reports are going to determine the future direction of individual shares.

[atlantic57] 23/12/2022 16:29:41

Agreed a lot of waffle not sure they are
Well placed as they claim to take advantage …

[hohum1] 23/12/2022 15:34:58

Shockingly complacent annual report. 20+% discount and they couldn’t give a hoot. Vote against Continuation and the Board…

[speedsgh] 21/12/2022 15:50:35

Annual Financial Report -

[davebowler] 12/12/2022 16:35:29

htTPs://www.aberdeendiversified.co.uk/en-gb/news-and-insights/insights/aberdeen-diversified-income-and-growth-trust-manager-update-video-nov-2022

[mister md] 28/10/2022 13:34:51

Finally dumped my holding in this at 90p yesterday - better opportunities elsewhere and already holding abrdn plc which is bad enough ;-)

[atlantic57] 14/10/2022 18:35:48

I suspect the market believes the net asset value is much less than stated which is why the shares are slipping.If 50% of their holdings are held in unlisted instruments these could really have taken a very heavy fall.

[wolstencroft] 14/10/2022 18:01:40

"The Company has a well-diversified portfolio, and has
proven to be resilient in the recent challenging
environment. While we expect market conditions to
remain challenging, we believe the Company is well
placed to continue to navigate what is proving to be a
difficult environment. We hope to be able to continue to
deliver differentiated returns to shareholders by holding
Private Market assets that are uncorrelated, or less
correlated to economic events, as well as listed assets that
can provide good cash flows, whilst also maintaining
exposure to certain assets that can participate to the
upside in more constructive market environments"

I wonder what they will say in their next report

[cc2014] 14/10/2022 16:43:08

Buying back all that debt which they were paying 6%+ on at crazy high prices hasn't turned out great...

The thing is the fund is so opaque. All this private equity markets only being revalued like once every 3 or 6 months gives no clue what the real NAV is.

[spectoacc] 14/10/2022 16:30:07

....Said everyone who's every owned it at any point ;)

Everything has a price tho - where's ADIG's?

[rich1952] 14/10/2022 16:28:38

This outfit needs winding up and the clowns who run it sacked.

[essentialinvestor] 14/10/2022 07:42:29

HP, it's been years of disappointment and not just in it's current incarnation.

Some of the comments here have been far too kind.

They have a mandate, look at their performance against that..

[atlantic57] 14/10/2022 07:31:41

Thanks for the constructive posts guys.I to am thinking of calling it a day I thought this would be a solid boring investment.

[cousinit] 08/10/2022 11:13:04

I guess a lot of the private market holdings are similar to what was being pushed towards pension schemes when they thought that they could have highly geared LDI positions and pick up illiquidity and risk premiums on the remaining capital. Will have to wait and see if there are secondary sellers (now BoE have insisted on lower leverage) but I suspect redemption notices will have already been submitted by a number of schemes for the first available window.

[speedsgh] 07/10/2022 16:20:47

There is a definition of Private Markets in their last annual report. AFAIUI all Private Markets Investments are unlisted.



The Company’s portfolio consists of investments from a wide range of asset classes including, but not limited to, Private Markets (such as private equity, private credit, real estate, infrastructure, natural resources and unlisted alternatives), Listed Alternatives (such as speciality finance, royalties, and listed Private Markets and alternatives), Listed Equities (including, global equities, European green infrastructure and UK mid-cap equities) and Fixed Income and Credit (such as global loans, asset backed lending, and emerging/frontier market debt).

--------------------

A full list of their Private Markets Investments as at 30/9/21 can be found on pg32-33 of the report. Perhaps unsurprisingly it includes a number of Aberdeen Standard funds!

[hugepants] 07/10/2022 16:04:14

It's not really the same as say chrysalis or supp though. And its mainly private markets not PE. There is a difference (not exactly sure what it is mind you!). The investments generally are income producing so can be valued to some extent based on that.
The discount is around 23% now and yield 6.2%. I expect they will writedown some of their property investments at some point though.

[spectoacc] 29/9/2022 07:59:37

"I'm looking to cut my stake by 50% around the 100p mark"

Hmm good luck with that. Agree with your point re base rates - can already get a 2 year fixed rate savings bond at 4.2%, and that will only rise.

Trouble with moving towards PE is that PE ITs trade at up to a 50% discount atm.