Acorn Income Fund Ld Share Discussion Threads

[mister md] 01/9/2021 13:04

happy with 60% gain in a short time here (bit of luck re: entry point) - likewise I will hold on for the price to get a bit closer to NAV, but may then switch into something with a higher dividend yield instead - to be decided ...

[whilstev] 01/9/2021 12:55

Well at least we should now get value out. I will be looking over Unicorn Income Fund closely to see whether I will join that if not obviously take the money if it is near enough NAV. Really glad I increased my holding here now.

[rcturner2] 01/9/2021 12:07

No one should be selling their holding below NAV given that announcement.

[matt123d] 01/9/2021 11:59

What level tempts people to sell rather than waiting for NAV. Surely 405p is too low.

[riverman77] 01/9/2021 11:58

Had a quick look and Unicorn Income fund looks ok - top quartile performer over 3 and 5 years. I guess rolling over into the fund would mean you wouldn't suffer the transaction and other costs. Something to think about anyway. Last NAV for AIF was 449p so still at big discount even after today's rise. May sell if it gets within 5% of NAV.

[rcturner2] 01/9/2021 11:41

If we get NAV then it's cash for me too.

[chc15] 01/9/2021 11:14

Unicorn income fund or cash out. Cash out for me..

[whilstev] 23/8/2021 12:44

Had a small top up today as cant see much potential downside with the discount being so wide. Just need the Board to get their act together and come up with a coherent future strategy for the trust or go for discontinuation. Some good companies can be bought at a cheap price here.

[rcturner2] 18/8/2021 13:48

I have decent position in AIF and like many others I suspect that people come here for the income from the dividend which could be acquired at a decent discount. There are very few equity trusts (I know there is a small bond aspect here as well) that have the same value. Plus the fact that the two largest holdings are Somero and Polar Capital, both excellent investments.

To suddenly announce that they were going to bin that all off is IMHO ludicrous.

[scillyfool] 18/8/2021 13:07

One does have to wonder about the competence of the Board. Surely they would have canvassed opinion from the largest shareholders before coming up with their, quite frankly, ludicrous proposal to change not only manager but also the sector. If they are so intent on jumping on the ESG bandwagon might I suggest that they pay particular attention to the “G” i.e. GOVERNANCE. There abject decision to abrogate their responsibility of governance to their existing shareholders beggars belief. Time for a change; certainly. Time for a new Board; definitely. I know who I shall not be voting for.

[big jim5] 12/8/2021 17:49

Call me old fashioned, but I would have thought the traditional approach would be to engage with shareholders before deciding on a new mandate rather than afterwards.

Once this mess is eventually sorted out, the board surely must resign.

[adrunkenmarcus] 12/8/2021 17:30

Or, at least, sacked.

[rcturner2] 12/8/2021 11:47

Whoever came up with the stupid idea to change the mandate should be shot.

[whilstev] 12/8/2021 11:08

I agree they are very cheap , would ordinarily be buying myself but until there is clarity on future dividend policy and obviously what direction the future managers intend to go in it is difficult to regard AIF as anything other than speculative. But sometimes it pays to speculate so good luck to all buyers.

[matt123d] 12/8/2021 10:20

Added here this morning, price been depressed for obvious reasons so potential to close that discount gap.

[whilstev] 12/8/2021 08:32

What a bunch of overpaid incompetents.

[adrunkenmarcus] 12/8/2021 08:25

It seems extraordinary that the BMO proposal got so far if there does not appear to be certain majority shareholder support! I'll watch AIF with interest but I've bought BRSC now and have rather more trust in their Board.

[speedsgh] 12/8/2021 08:03

What a fiasco. Does not reflect well on the current board.

[8w] 12/8/2021 07:58

AIF was likely to be wound up with the BMO proposal, let's hope the next option reflects at least some of the current characteristics of the AIF we bought into.

[adrunkenmarcus] 12/8/2021 07:46

I'm a bit annoyed. I might not have sold out if there'd been an option for AIF to potentially continue more in line with its current smaller cos. approach and high gearing!

[speedsgh] 12/8/2021 07:16

Dividend Declaration and Update on Future of the Company -

Dividend declaration

The Directors are pleased to declare a third interim dividend for the year ending 31 December 2021 of 5.75p per Ordinary Share, which is in line with the corresponding dividend for the year ended 31 December 2020 and also that of the first and second interim dividends for 2021.

Ex-Dividend Date: 9 September 2021
Record Date: 10 September 2021
Payment Date: 30 September 2021

Dividend per Share: 5.75 pence per Ordinary Share (Sterling)

Update on the future of the Company

Further to the Company’s announcement on 17 May 2021, where the Board of the Company announced proposals to recommend the appointment of BMO Global Asset Management to manage the Company under a new Sustainable Global Equity Income investment strategy (the “BMO Proposal”), the Board has received further interest from managers regarding the future of the Company. Despite the Board continuing to believe that the BMO Proposal is an attractive investment proposition, after careful consideration of shareholder feedback the Board has concluded that an alternative proposal to the BMO Proposal may represent a more suitable proposition for the Company’s shareholders.

Given the continued shareholder consultations and the review process of alternative proposals, the Company confirms that the Extraordinary and Annual General Meetings will not be held in August 2021 as previously expected. An announcement with further details on the future of the Company will be published as soon as practicable and expected to be no later than mid-September. Thereafter, the Company expects to publish a circular in relation to the Board's proposals for the future of the Company, including a notice convening the Extraordinary and Annual General Meetings.

[adrunkenmarcus] 09/8/2021 21:44

I sold my AIF around 360p as I didn't like the new mandate (as proposed). The proceeds mostly went into BRSC, since up about 12% including a dividend. I didn't like selling at a NAV discount but BRSC has produced a return, so far, equal to about 403p per AIF share I sold.

[speedsgh] 09/8/2021 20:57

Maybe they are struggling to sell the proposed new investment objective/policy to major shareholders?

[whilstev] 09/8/2021 14:52

Half year results due soon so would expect to hear then. Meanwhile discount to NAV now over 22%.