Abrdn Diversified Income... Share Discussion Threads

[spectoacc] 15/5/2024 17:42

Hoping the rise will hold/continue into the first capital return.

[tiltonboy] 15/5/2024 17:19

NAV not likely to move other than minor currency adjustments as Private Market investments are only valued periodically

[spectoacc] 15/5/2024 16:01

True, NAV unmoved by market rally. share price has moved tho! And well bid at 81p too.

[thrugelmir] 09/5/2024 14:47

If only the trust hadn't been forced to sell of it's UK listed equities. The outcome would be far more palatable.

[spectoacc] 09/5/2024 08:53

Well bid, would usually sell a few after a run. But on a £1.07 NAV, some of which should be realised very soon, all of which should be realised eventually? Got to sit tight.

[genista71] 03/5/2024 20:30

I hope now it is in wind down we have a statement on reducing expenses both the management fee and board renumeration. Most of then need to be culled

[tiltonboy] 03/5/2024 20:18

Should be getting an update on the return of capital any day now!

[chucko1] 03/5/2024 16:55

What I have noticed is the relative stability of the NAV after the likely completed selling of the first batch of assets, and recently, the increase in NAV.

What I cannot fathom is why they no longer report the Gearing number on each Monday. They had done so for years prior to April of this year. There may be no gearing now, but that did not stop them in the past in similar circumstances. It might be because, by definition, they can no longer have leverage owing to the winddown and consequent long cash position (including WC). It would at least indicate something useful.

[spectoacc] 03/5/2024 16:26

A long-overdue rally. Not forgetting that every day that goes by is a day closer to getting (some) money back.

[hugepants] 03/5/2024 16:24

Perking up a bit here after the bonkers drop to 71p. A share price of the mid 80s implies a 30% discount post June cash return which, although too high imo, feels about where this market is at just now.

[mwj1959] 24/4/2024 09:24

Unfortunately too many boards are heavily influenced / guided by their investment managers.

[genista71] 23/4/2024 19:58

It was the idiot chair who permitted "exotic investments" when it was obvious that would take the fund to a wide discount. Even worse giving that remit to such a useless manager. The corporate governance on ADIG is a bad as it gets.

[mwj1959] 23/4/2024 17:43

The Chairman is more qualified, based on her investment experience, to be in that job than many others in similar roles. However, I would agree that this experience hasn't necessarily been used to good effect. And its a very hostile environment for ITs investing in unquoted "exotic" assets. They're not the only ones to be struggling with large discounts etc.

[sll] 22/4/2024 19:04

I will defend the managers and the Chair. IMHO, the above negative comment is either sorely mistaken? or a baseless slur?

[hugepants] 22/4/2024 17:02

Thick as mince? That's pretty damning. I'll have to re-examine the investment case based on this new information.

[genista71] 22/4/2024 14:24

Im telling you the manager is hopeless as is the board especially the chair person who is as thick as mince..this unwind will not go well

[chucko1] 22/4/2024 13:02

Almost 50% discount on remaining assets (the tricky ones) allows for a lot of this sort of stuff. There will be further mishaps, but 50% for what remains is too generous. Additionally, the NAV has become to enter more calm waters, or at least statistically.

[cousinit] 22/4/2024 12:10

I presume a strategy like that will have a good chunk of gearing. If you think you're good at something, then why not give it a shot in the arm?

Can't imagine too many abrdn strategies are attracting any new monies so could also be a switch in pricing basis.

[cc2014] 22/4/2024 11:34

As I read it they haven't sold it. It's just been marked to market which begs the question of how a ABRDN does their maths if they are reducing the value of the fund in one quarter by 20%. I cannot see that as right and assume the carrying value has been too high for some considerable time.

Shocking whatever the reason.

But presumably in the NAV now and has been for some time.

[hugepants] 22/4/2024 11:15

Selling a chunk of property in one go in this market was never going to end well! That's the downside to winding up part of the portfolio quickly. They wont have got great prices for the listed alternatives either. Probably had to sell these at near market lows. On the positive side the NAV is probably not going lower, near term anyway (income to accrue), and they can take their time with the private market stuff.

[tiltonboy] 22/4/2024 10:59

March factsheet out. Most of the public positions have been exited with the funds being held in near-cash situations.

A huge write-down (20%) in the European Residential Opportunities fund is the shocker!

[tiltonboy] 18/4/2024 14:26

Looks like they have stopped issuing factsheets and holding summaries which doesn't help

[genista71] 12/4/2024 10:46

Cant trust this lot, neither the board nor the manager