Abrdn Diversified Income... Share Discussion Threads

[cc2014] 07/6/2023 11:28

I see they are trying to do something about the discount but they also need to do something about the return.

2.2% over 6 months isn't terrible. At least it's positive but I score it 5/10. Need to do better.

I've been through the investments quickly this morning. They didn't excite me.

I like the discount but I'm going to require a spike down in the spike to put my cash to work here.

[hugepants] 07/6/2023 07:58

Interims


...However, the Company's share price total return (which assumes dividends are reinvested) was -6.5% with the share price discount to NAV widening from 23.7% to 29.8% at 31 March 2023. The drop in the share price appears to be driven predominantly by the stock market currently applying a substantial discount to private equity assets, reflecting uncertainties over asset valuations. Although your Company has under 12% of its assets in private equity investments, this substantial discount appears to have been applied to all the Company's private market assets, even to sectors such as infrastructure (comprising 16% of the Company's assets), which typically trades on a tighter discount.

The Board appreciates the frustration of shareholders at this share price performance. To address the issue, the Board and Manager continue to communicate to the market the quality of the Company's portfolio and the steady NAV returns it has generated.

[thrugelmir] 27/5/2023 13:09

Not just ADIG. Institutional money is increasingly being parked in cash. Forward view suggests there's a dip on the horizon.

[spectoacc] 26/5/2023 13:53

Obviously we're still unloved - but are we a little less unloved? Been no drop with change in base rate expectations.

[thrugelmir] 23/5/2023 20:55

I suspect more likely to be a disgruntled stock holder. That's held on for far too long. In the vain hope of recovering their losses.

[atlantic57] 23/5/2023 16:08

Thrugelmir is there some artificial intelligence that automatically gives the thumbs down to posts.I notice no poster ever offers any alternative view to the post marked down.

[thrugelmir] 22/5/2023 17:23

May well explain the continual buybacks and contraction of the asset base. News wise been very quiet for a while.

[tiltonboy] 22/5/2023 08:06

They are re-organising their Private Markets teams, so it's not beyond the realms of possibility

[hohum1] 22/5/2023 07:44

Have only just heard (on Jonathan Davies’s podcast) that another Abrdn trust (AJIT) has thrown in the towel. Too much to hope that ADIG will do the same any time soon…

[atlantic57] 12/5/2023 08:08

Cc2014

Can you share other places clearly not investment advice
Thanks

[hohum1] 12/5/2023 07:42

The March factsheet says that they do have exposure to Burford Capital’s Petersen case via the unlisted investment, BOF. Checking back, the ADIG NAV went up by 1.5p on the day of the Peterson announcement and BUR shares have been strong since then so there may be more to come.

[thrugelmir] 26/4/2023 13:11

If inflation does drop back to 4% by the end of 2023, early 2024. Then 6% will be a decent positive yield. Reinvest the income and let compounding do the heavy lifting.

[hugepants] 25/4/2023 20:14

Still feels cheap down here though. 6% yield at 95p.

[cc2014] 18/4/2023 13:21

I have sold out today. Might be too early, might not be. Gut instinct but plenty of places elsewhere I can put the cash where I have more conviction.

[essentialinvestor] 18/4/2023 12:58

May be of interest.

[thrugelmir] 16/4/2023 21:01

RMMC has it's moments in the sun. If you are investing for the long term then the spread shouldn't be a concern. Lower the liquidity in a stock the greater the volatility in the share price. Not for the faint hearted I agree. Having said that many investors appear to love Private Equity on the basis of perceived discounts. Although the underlying portfolios are opaque in nature and the investment managers cream off high gees whatever the performance.

[rcturner2] 16/4/2023 18:34

I have held Phoenix since before the name change which according to Wikipedia was in 2010.

[essentialinvestor] 13/4/2023 15:08

Speaking of micro caps I looked at RMMC today but the % spread is prohibitive.

[thrugelmir] 13/4/2023 15:08

Not always. I've held one individual company share for over 10 years. Despite the economic cycles. Banked some profits when the price rose too far and likewise added more when it went oversold.

[essentialinvestor] 13/4/2023 15:05

Yup, although Sage was a micro cap when I started, Next available for pennies at one point - always so much easier with hindsight, eh.

[spectoacc] 13/4/2023 14:58

"A long-term investment is a short-term one gone wrong".

[thrugelmir] 13/4/2023 14:45

Investments need to be monitored. Not simply left. I've never bought anything with a 7 year perspective. Like life itself. Investing is cyclical. Holding onto bad investments isn't healthy but is an all too common trait.

[cc2014] 13/4/2023 12:53

The debate about whether it's better to buy and hold or not has no clear answer imho.

If you've got the right stock or a good fund manager buy and hold works but I've never been able to work out in advance this criteria.

[essentialinvestor] 12/4/2023 16:09

RCT, take the general point but buy and hold has most definitely not worked here over 7 years.

I posted the 2016 NAV a few weeks ago.

Clearly you can make a case the next 7 years may be better.

[rcturner2] 12/4/2023 16:05

Just buy and hold. Over trading is bad for your wallet. Too much over thinking on this thread.