Abrdn Diversified Income... Share Discussion Threads

[atlantic57] 23/7/2024 09:26

Many thanks

[chucko1] 11/7/2024 23:01

ERNS looks like 5.2% or so the last time I looked. CSH2 is now compounding at 5.65% and with marginally lower volatility. Sweet spot.

[ammons] 11/7/2024 14:45

Anything left to go for in ADIG given I have missed the first payout?

[spectoacc] 11/7/2024 11:00

Halifax & Barclays Stockbrokers I bet :)

I've ADIG in 4 a/c's & all have paid - hopefully you'll get yours before CoB.

ERNS - c.4%, can't go wrong, but hope to see something cheap to buy once the Labour dust has settled.

[cynicalsteve] 11/7/2024 10:39

A wise choice SpectoAcc, if I'd put more money into ERNS I'd have a lot more money today, not because ERNS has gone up but because lots of other stuff has gone down, ADIG for example! Still no money in my Halifax account.

[spectoacc] 11/7/2024 07:26

The return is in all a/c's - next to work out what to spend it on.

Edit: Went for the easy optiont and added to ERNS.

[spectoacc] 04/7/2024 16:14

Lol, you're right - must be because it's late in the day, & I'm post-Covid :)

Said this previously:
"Assume our next NAV will be 107p-38p = 69p, which c.44p is going to look a decent discount against."

But clearly should have read my own previous post :)

[tiltonboy] 04/7/2024 16:09

Specto,

Why is it better than you were thinking?

NAV the previous day was 107.75. Take away the 38p payment leaves 69.75

[spectoacc] 04/7/2024 15:46

69.4p inc income, better than I was expecting.

[spectoacc] 04/7/2024 08:17

Looking forward to the cash.

[citytilidie] 03/7/2024 19:41

At least all the resolutions were passed at the special meeting. That could have been a PR nightmare for Aberdeen.

[citytilidie] 03/7/2024 11:13

The market makers have so many shares to look after and have to read so many announcements well before 7 every morning that they sometimes miss an event or don’t adjust the price accordingly. This was a straight forward capital event so the share should have fallen roughly 38p straight from the start to allow for the B shares. The discount will slowly re-adjust but that will also depend on market conditions. I’ve bought more today as I do believe 50% discount is too great, but the flip side to that is that they now have less liquid cash on their balance sheet.
Royal and Sun pref shares recently announced they were to redeem their shares at approx 124 but the market makers missed the announcement. The shares were still being offered at 108 so me and several others picked a load up. They closed that day at 120. Be alert as sometimes it pays.

[cynicalsteve] 03/7/2024 10:46

I have another (less likely) theory for the high early share price, the market makers would have to make a judgement of the opening price, to do this they would have to work out the new discount. Perhaps they were too optimistic and were hit with a wave of selling? This theory comes from my own disappointment, I was expecting an overall gain of a penny or two today but the market has taken the whole 38p off the share price so the discount is now 40%. This is a very negative view of when the assets will be sold and the price we will get for them.

[citytilidie] 03/7/2024 09:41

It’s quite a few years off memory before they expect to finally wind up, but yes, the discount should reduce slowly which should help the share price. Quite a few buyers going back in now. (probably hoping the vote fails)🤑

[spectoacc] 03/7/2024 09:22

Can't go wrong buying back again, and have never seen one of these votes fail, but - you wonder why the co risks it, when it could se easily be ex the morning after the vote instead.

Assume our next NAV will be 107p-38p = 69p, which c.44p is going to look a decent discount against.

[citytilidie] 03/7/2024 08:51

Sorry SpectoAcc, the 43p was my view of the bid price, not the offer. I wanted to hold these but I couldn’t believe the price first thing. I sold mine at 52.9 together with a load of others, and have just bought them back at 45. Happy with the profit.

As you say, it is very strange that they have gone XD before the vote, and it would be mayhem if the vote did now not go through. The market makers and the FCA would both get involved which wouldn’t be good all round… …especially Aberdeen Fund Managers.

[spectoacc] 03/7/2024 08:20

Plus the shares actually closed at 82.8p, so c.45p.

One question tho - the vote's today, what happens if it doesn't pass? Why have the ex date effectively before knowing if it's definitely happening? The meeting isn't until 4pm.

(The B Shares will never hit our a/c's, will get the money in about a week - assuming the vote passes later).

[tiltonboy] 03/7/2024 08:19

Somebody forgot to delete an order on the SETS board last night and got hit first thing!

[hugepants] 03/7/2024 08:18

"To me, they should have opened the days trading at about 43p, instead of 52."

You're just lopping off the 38p capital return but by that logic if they had instead returned 81p (yesterdays share price) then the shares would have opened today at zero pence.

[citytilidie] 03/7/2024 08:12

To me, they should have opened the days trading at about 43p, instead of 52.
We all have “B” shares as well now, which should show on our accounts later all being well

[hugepants] 27/6/2024 14:55

hohum do you mean tranche 1?

"...approximately £101 million of the Company's private markets portfolio (valued as at 31 May 2024) is expected to mature between 2024 and 2027 (the "Tranche 1").."

That's what, about 34p per share over next 3 years - with the dividends on top. Some this year so perhaps another capital return later in the year.

BTW I'm pretty thick. Can someone clear up exactly what they mean by "mature"?

[skinnypope] 27/6/2024 12:21

Note 2 to financial statement has a good breakdown of the income from the portfolio, which helps model the forward dividends.

I had modelled the private assets generating around £10m p.a. but the income statement only shows £6-7m. "Overseas listed dividends" is quite a bit higher than I expected given the relatively smaller holdings ADIG had here - anyone got any ideas on this?

Dropping the future income stream down to £6.5m brings my modelled dividends down, I see the forward yields now at ~5%, and the IRR including capital returns at 14%.

Still a strong hold, but for capital rather than income going forward.

[hohum1] 27/6/2024 09:37

I was expecting a detailed update on tranche 2. For example, how much can we expect by December? The Abrdn Global Private Market and TwentyFour funds should be realisable within 6 months…