Acorn Income Fund Ld Share Discussion Threads

[whilstev] 09/6/2021 15:16

Some buying of the dividend. Ex tomorrow , will be interesting what course it takes after that. It is good to see it recovering after last weeks sell off though.

[2wild] 09/6/2021 13:50

Discount to nav is narrowing, share price up 30p in last 7.5 trading days. Discount down from 19.5% some days ago to about 14% now.

[chc15] 09/6/2021 08:19

If this goes to bmo or discontinues, we will get closer to nav, so why isn't the nav narrowing? Ex div tomorrow, worth a buy now?

[rcturner2] 28/5/2021 19:06

I hold IPU as well, I would not be selling that.

[2wild] 28/5/2021 16:35

Brought 5 tranches today at between 242p and 244.8p, an average 19.5% discount to NAV. Sold IPU @ 610p SDV 225p and reduced ASIT at 89.07p, for an average 6% discount to NAV.

[big jim5] 28/5/2021 09:33

On the question of a cash exit, usually when an IT is having a total change of strategy, i.e. going from UK small caps to global large ESG caps as in this case, the board would offer a cash exist so shareholders can choose to either go with the new strategy, or get their money out if they disagree. If was a more minor modification, such as changing the manager but sticking with the same investment policy, then there would be no need for it. As it is, the board are making an asset allocation decision on behalf of shareholders - which strikes me as rather presumptuous to say the least.

[whilstev] 28/5/2021 09:32

It certainly looks like discontinuation for me the discount is approaching 20%. I think there has been a big vote of no confidence in the boards plan for the trust.

[big jim5] 28/5/2021 09:27

As non-executives, with fiduciary responsibilities to shareholders, they will not have been able to accept a fee for taking the fund to BMO as it would have compromised their judgement. Indeed for BMO to even offer such would technically amount to bribery.

[keith95] 28/5/2021 09:16

"I think the board will come to regret not offering a cash exit for shareholders" Why? The board presumably gets a fee for transferring the fund if it goes through ... .. it was presumably a no brainer for them given that the board seem largely uninterested in continuing under the current model. I think it a shame - it was/is a good fund.

[big jim5] 28/5/2021 09:06

I think the board will come to regret not offering a cash exit for shareholders who are less than impressed with the proposals. No brainer for me - vote in favour of discontinuation.

[keith95] 28/5/2021 08:57

Grabbed a few back on the drop yesterday .... I'd sold out and moved in to HFEL. I'll be voting to discontinue ..... but it seems a bit of a no brainer ... The company as it stands is being discontinued either by vote or by a change in strategy ... either way the discount to NAV is going to be realized. The only question is whether the new strategy will trade at the same discount.

[rogerrail] 27/5/2021 17:02

Agree, NAV went up 10p or thereabouts share price down 22p. No doubt seller wants out before change in strategy/manager. May be a good time to accumulate if the continuation vote goes against the company.

[whilstev] 27/5/2021 16:30

Any reason for the fall here today ? NAV up to 426.5 so seems strange.

[speedsgh] 20/5/2021 11:12

Acorn Income Jumps On The Sustainable Bandwagon - HTTPS://www.itinvestor.co.uk/2021/05/acorn-income-jumps-on-the-sustainable-bandwagon/

[rogerrail] 19/5/2021 20:25

Are they targeting 3.5% of NAV? If so thats over 4.4% on current share price Still I would be sorry to see this go as it does provide some diversity to the run of the mill income investments with its focus on smaller companies, and IMO its a better investment than competitor SDV, but it seams we dont have the choice to maintain the status quo.

[rcturner2] 18/5/2021 19:26

Is that yield still correct though as is it not the historic yield?

[scillyfool] 18/5/2021 18:14

I’m not sure about everyone else here but I invest to make money not to pander to an Investment Trust Board’s perceived vision of the latest “wokery” trend. Acorn currently yields c.6.25% and is on a discount of c.13% and I have no problem with the current management of Premier/Unicorn. The only possible reasons to vote for a change of management are poor performance, investing in underperforming shares or poor returns. Can the Board provide evidence of better performance in the proposed move to BMO? If not, then they should consider winding up the Trust and returning the proceeds to us loyal investors and we will make our own minds up as to where to invest our money.

[chc15] 17/5/2021 23:39

Although 3.5 percent yield with capital growth sounds ok, but will it beat a global tracker fund, that is the question..

[chc15] 17/5/2021 08:52

Hmm, don't suppose we have a choice here, either we sell ourselves or stick. Rather it kept its UK focus, sounds a load of esg duff.

[skyship] 17/5/2021 08:39

Managers/Directors trying to continue their role rather than face the Discontinuation vote. If you like the new proposal perhaps better to vote it down then just buy a tracker ETF!

[rcturner2] 17/5/2021 08:19

I would rather see the Trust continue with the current holdings, which was one of the reasons that I hold here. The top ten holdings contain decent UK small caps and the NAV is currently growing well, I reckon +10% in the last 6 weeks alone. Why do people always have to fiddle with things?

[skyship] 17/5/2021 07:21

A load of woke puffery - liquidation the best move...

[adrunkenmarcus] 10/5/2021 21:24

Yes, it will. I wouldn't mind the company being wound up and getting NAV for my shares rather than the current market price, but equally I'd be open to sensible proposals for future policy. I quite like the idea of long term leverage and their focus on smaller caps. I don't like the expenses relative to the size of the company or various recent stock picking failures. I think it went off the boil after John McClure's untimely demise.

[2wild] 10/5/2021 21:16

NAV up 12.2% in last 2 months to 425.29p plus dividend. Brought today at 356p, a 16.3% discount to nav. The Zeros redeem in February 2022, will be interesting to see what proposals are put forward.