ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for alerts Register for real-time alerts, custom portfolio, and market movers

ADIG Abrdn Diversified Income And Growth Plc

75.00
-0.60 (-0.79%)
Last Updated: 14:59:46
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Abrdn Diversified Income And Growth Plc LSE:ADIG London Ordinary Share GB0001297562 ORD 25P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.60 -0.79% 75.00 75.00 75.80 75.00 75.00 75.00 130,463 14:59:46
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Trust,ex Ed,religious,charty 3.49M -299k -0.0010 -750.00 231.88M
Abrdn Diversified Income And Growth Plc is listed in the Trust,ex Ed,religious,charty sector of the London Stock Exchange with ticker ADIG. The last closing price for Abrdn Diversified Income... was 75.60p. Over the last year, Abrdn Diversified Income... shares have traded in a share price range of 70.40p to 88.40p.

Abrdn Diversified Income... currently has 309,177,359 shares in issue. The market capitalisation of Abrdn Diversified Income... is £231.88 million. Abrdn Diversified Income... has a price to earnings ratio (PE ratio) of -750.00.

Abrdn Diversified Income... Share Discussion Threads

Showing 726 to 750 of 850 messages
Chat Pages: 34  33  32  31  30  29  28  27  26  25  24  23  Older
DateSubjectAuthorDiscuss
21/2/2024
10:11
Definitely looking interesting here - would need patience but seems a fairly safe bet to roughly double money over next 3-5 years. This is on the basis of reinvesting the third of the portfolio that gets realised close to par in the next few months - if I can reinvest those proceeds at a 45% discount, while the remaining assets continue to generate a modest 5-10% return as they are gradually realised, then this seems feasible.
riverman77
21/2/2024
09:00
Down the slope of hope, eh


She looks to be targeting the November low all right - 'should' make a higher low, but just a guess obvs

essentialinvestor
20/2/2024
21:18
72.4 in the 12 month low and an intra-day low point, from memory.

Would be very surprised if that's taken out - barring something left field.

essentialinvestor
20/2/2024
15:20
Voluntary Liquidation.

Was going to sell, at a loss, and rebuy in my ISA for the generous dividend seen as the tax free div allowance is reducing to £500 next tax year and use the losses against potential gains.

Awaiting finite detail but Think I might hold on now

contact2fsnetcouk
19/2/2024
14:45
77.00 - 78.00 (GBX) at 11:22:30
on Market (LSE)

neilyb675
19/2/2024
11:47
* thanks for the clarification, appreciated.

Db possiblity touching last November's low?.

essentialinvestor
17/2/2024
12:11
Ah right, there’s the difference.

The “including income” measure that I use is, I believe, much more accurate. It will capture the likes of imminent dividends.

The “excluding income” will ignore those dividends, but will reflect the ex-dividend price of the stocks.

[Once the dividends are paid they will hit the cash line and both NAVs will come back more in line]

skinnypope
16/2/2024
18:36
29/12/23 RNS - abrdn Diversified Income and Growth plc Undiluted Excluding Income 111.33p Ordinary

From today, on the same basis, 107.62p.

essentialinvestor
16/2/2024
17:15
@EI – I can’t see the NAV has dropped 4% since year end?

31Dec NAV = 111.01
16Feb NAV = 109.15

Change = (1.7) %

I downloaded the new portfolio disclosure report, which wasn’t overly informative. Bond NAVs slightly improved, private assets small lower, and also equities lower.

Equities driven partly through net sales – they sold AERS and bought [less] JLEN, but also partly through market moves -there is a niggly 824k of GRID in the book, which took quite a hit to the end of Jan.

Re the NAV discount widening post any distribution, I think this is mathematically probable, but also not really relevant.

The remaining private assets will be the ones mostly contributing to the NAV discount, so indeed after the sale of the liquid assets (presumably valued only at a slight discount to NAV), then the remaining total NAV discount is spread over less assets = NAV discount % mechanically widens.

But it doesn’t matter as it’s already in the price. Putting some rough numbers out here:

Total portfolio value = £333m
Total market cap = £238m

To reconcile those numbers, I have to put the listed equities/bonds/credit assets to 5% discount, and the private assets to a whopping 45% discount [cash / forward contracts / debt at FV all largely offset]

In other words, post the liquid asset sales the NAV discount can go to 45%, but that’s where they are already valued, so it all nets off.

The real value in ADIG is that the discount on the Trance 1 private assets is too wide, given that they will just roll off at par. In fact, putting these assets to zero discount, means the Tranche 2 assets are kinda valued at zero!

skinnypope
16/2/2024
17:14
I bought a few when the wind down decision was made. Given the perpetual fall (it seems) in NAV and there is no attribution to the factors causing it, I see the safest route as one of averaging in.

That said, it is clear that a factor of note would be the medium term risk free rate which has risen somewhat the past weeks in line with an NAV fall of about 3%. We know that they have some holding of fixed income instruments and more recently, the gilt fund. However, this by no means explains more than a mere portion of the fall.

As I had previously noted, I could see no comments in their publications on any hedging strategy being employed, so what is happening to the currency exposure is guesswork. Or general interest rate risk.

But yes, a possible 30-45% discount covers up many sins in a wind down.

chucko1
16/2/2024
16:26
tilton, I thought I read somewhere in the circular that the number of shares in issue will stay the same? Perhaps I misread.
I know what you mean but IMO the discount has to narrow from here as we approach capital repayment date.

hugepants
16/2/2024
16:21
Deleted post after re-reading. Apologies HP
tiltonboy
16/2/2024
16:13
less than 2% surely?
hugepants
16/2/2024
16:09
Just looking at the 31/12/23 NAV,
it's fallen not far off 4% in just 6/7 weeks.

essentialinvestor
16/2/2024
16:06
* provided NAV does not decline further..
essentialinvestor
16/2/2024
16:03
Well EI if you can point to any other liquidating trusts that are debt free and paying a dividend that are on mid 30s discount I'll reassess.

Running some numbers. Shares to buy currently 77.25p versus NAV 109p

Dividend of 1.56p dividend at beginning of March
Then 38p capital repayment before end June. So shareholders get 39.5p in 4.5 months

Thereafter NAV becomes 69.5p
If full 39.5p comes off then new share price 37.75p which is a 45% discount to NAV. No way is that happening.
For a post cash return and your predicted 35% discount then new share price is 45p. Even that gives a 10% return from where we are now.

hugepants
16/2/2024
13:25
NAV continues to ease lower, are these some year end valuations coming through and if so, might there be more
significant falls to follow..


HP, may be looking at a mid 30's % discount to NAV post return (best guess).

essentialinvestor
16/2/2024
11:07
* on the NAV discount Not widening post capital return.
essentialinvestor
15/2/2024
22:15
Not really. Some of the fixed income type alternative ITs have reported far bigger drops. Some reits also.
hugepants
15/2/2024
22:05
HP, to term you a relentless optmist is an understatement ; good fortune.
essentialinvestor
15/2/2024
22:02
I don't think that's too bad given a large chunk of the portfolio is fixed income type stuff. Once interest rates reverse the NAV should start trending up.
hugepants
15/2/2024
22:00
NAV spprox 5% lower on the last 6 months.
essentialinvestor
15/2/2024
21:58
I honestly cant see the discount widening further. The business is winding down, returning capital and paying dividends along the way.
hugepants
15/2/2024
21:56
Are you basing that on keeping your remaining holding post capital return?
as I can see the discount widening further.

And as has been highlighted, NAV is ticking lower.

essentialinvestor
15/2/2024
21:50
The circular was published last week. I don't think there's much new in there.


It's not particularly exciting but Id think there's a fairly easy 10%+ total return by end of June (including 1.56p dividend) to be made as the shares adjust to the 38p per share capital repayment. That assumes the shares trade at a 30% discount.

hugepants
Chat Pages: 34  33  32  31  30  29  28  27  26  25  24  23  Older

Your Recent History

Delayed Upgrade Clock