Abrdn Diversified Income... Share Discussion Threads

[cc2014] 15/3/2023 09:14

I liked ALAI. Never bought it but my finger hovered over the button very many times.

[tiltonboy] 15/3/2023 08:27

....and ALAI goes as well. Next....

[essentialinvestor] 13/3/2023 14:11

And I thought it was brave buying RIT and ATT, eh ;

Best of British folks.

[cc2014] 13/3/2023 14:04

A few more for me too below 83p.

[spectoacc] 13/3/2023 13:57

82.81p for another nibble - well down on recent purchases tho.

Waiting to hear what hidden unexpected risk is in them!

[cc2014] 13/3/2023 08:17

It seems I now have a very small position in this Trust at below 84p.

Can't say I'm too excited and I see it more as a trade than an investment.

We shall see. I do not the macroeconomic picture but I do like the buy-backs

[thrugelmir] 10/3/2023 19:45

Inequal distribution of wealth. The FED has a major challenge with QT. Deflating the asset bubbles is going to be a long drawn out process.

[spectoacc] 10/3/2023 17:01

Yes, I absolutely expected a recession in Q1, how could there not be a bloodbath? Utility bills right up, food prices up, fiscal drag kicking in, tax bills falling due, c.100k people a month coming off fixed rate mortgages. And yet..

Seems Covid savings, Covid rebound, and perhaps the fact 55% of houses have no mortgage have saved the day. So far. Petrol also down a quarter from highs, and gas fallen 85% even if that makes no difference to our heating bills.

Also wage rises, and maybe a minority being hit really hard whilst the majority make it up in the GDP figures. Tax receipts also ticking along very nicely.

Yet is hard to be bullish - some of the tax rises are pushed out beyond the next election, inflation isn't going away, interest rates are going higher for longer, which the market has been incredibly slow to appreciate. And something, somewhere, at some point, will break. You don't get 14 years of ZIRP unwound in 18 months without a crisis, even if it turns out not to have been LDI, or yesterday's SVB.

Trade what you see - right now I see a lot of things that bounced up too far from lows & are still too high. But I've been dip-buying today, UKCM, SUPR, ADIG.

Have a good weekend.

[essentialinvestor] 10/3/2023 16:54

Spec, I expected a larger cyclical adjustment and also a more significant
asset price adjustment to a post ZIRP environment - perhaps the renewed weakness in much of the REIT space is indicative of the market reconsidering this.

The bullish case on equities has been significantly strengthened by a major recession
not materialising - as was the consensus case 6 months or so back. Best of luck.

[spectoacc] 10/3/2023 16:43

Good luck @EI - am struggling to work out if this current dip is a buying opportunity or a lot of charts breaking down and heading lower - the $64,000 question.

(As an aside - I think the chances of a US technical default are underrated, the Trump Republicans really are that stupid).

[essentialinvestor] 10/3/2023 16:37

Spec, bought some RIT today, but also some PNL.

[essentialinvestor] 10/3/2023 13:43

LMAO! - good shout.

[spectoacc] 10/3/2023 13:42

Averaging down today. So far my ADIG experience has been the same as almost everyone else's.

[tiltonboy] 06/3/2023 18:18

Credit where its due, the buy-backs continue, and the biggest one yet!

[hohum1] 02/3/2023 14:17

The annual report list of largest shareholders shows that ii and HL are the only buyers compared to a year ago. All of the institutions have reduced since 2021. Peter Spiller was right: at a 25% discount to NAV they should return cash from maturing long term investments back to shareholders rather than entering into new ones. If the discount persists for 2-3 more years they should give up and shut it down

[tiltonboy] 02/3/2023 12:26

CC,

The selling has been persistent, and consistent for a long period. It hasn't been difficult for them to buy back because there is always lines of stock on offer.

I got persuaded not to vote against the resolutions at the AGM last year, only to find the following day that the broker was offering stock in big size. Fast forward a year, and we are in the same boat, but sellers are now willing to sell on a 20% plus discount.

If they ramped-up the buy-backs even more, I would suggest they would get filled-in pretty quickly.

One would hope on this discount and yield, that further downside is limited, in the absence of a major fall in markets

[cc2014] 02/3/2023 12:08

Well I'm completely puzzled. this stock isn't doing what I expected at all.

So, shortly before the continuation vote, the fund manager gets a kicking for not controlling the discount and some large holder(s) start selling out. Considerable volume goes through around 87-89p.

The continuation vote arrives and I'm surprised to discover it's resounding in favour of continuation.

So, now the share price is struggling again and more volume is going through 87-88p, which presumably means some don't like the outcome. Perhaps they bought trying to influence the vote and now have to unleverage. I don't know.


This is one of those stocks where I haven't bought because I don't like the long term prospects but honestly though the share price was a bit depressed and was due to bounce back to something beginning with a 9 at least in the short term.


Gilt yields aren't helping of course, but the market doesn't seem too bothered about that elsewhere. It's just certain stocks.

[atlantic57] 02/3/2023 11:54

Hohum how realistic is that 30% discount to net asset.

[neilyb675] 02/3/2023 11:26

87.00 - 88.00 (GBX) at 10:57:12
on Market (LSE)

[hohum1] 02/3/2023 11:24

Hopefully they’ll go into the buyback cheaply. 30% discount not far away…

[tiltonboy] 02/3/2023 11:22

Stifel offering a shed-load at the moment!

[hohum1] 02/3/2023 07:06

Dividend announced: 1.42p per quarter (+1.4%). Ex div on 9 March. Paid on 3 April

[spectoacc] 01/3/2023 19:17

As a glance at the chart would attest.

[hohum1] 01/3/2023 19:00

@RCT2 - Figures on factsheet are total return. They assume that the dividend is reinvested in new shares (or at NAV) on the day they are marked ex-div.

[essentialinvestor] 01/3/2023 17:43

Last British Assets Trust NAV update (before the first Manger change ) and with debt at fair value in FEB 2015 stood at £1.45 pence a share