Acorn Income Fund Ld Share Discussion Threads

[rogerrail] 29/7/2019 16:10

Like what exactly? Best thing they can do is increase NAV , the share price will catch up, but easier said than done!I suppose they could de-risk by liquidating some equities and significantly increasing the proportion in the income fund.

[chc15] 29/7/2019 13:56

I may contact the managers, see if they are doing anything to address the discount here, its gone way too far. Problem with active management, once poor performance happens, its hard to recover.

[malc1111] 29/7/2019 13:47

Agree was looking good last year, but not worth bailing just now , I too will hold on and get out at next bounce hopefully.

[psync] 29/7/2019 11:36

All trades are showing up as sells for some reason, including the 1000 shares that I just bought at 340. This is ranked 275th out of 304 trusts for 1yr performance on trustnet with -21.2%, but the majority of that decline is due to the widening discount. This time last year the discount was 1% whereas this morning it's closer to 18%.

[malc1111] 29/7/2019 09:10

Does anyone have any idea why AIF is on a permanent decline. Hard to see why given the underlying NAV etc. Seems to eb no-one buying and lots selling. Recently it seems to have gotten worse.

[rcturner2] 29/7/2019 07:30

Andy, I would think that the Woodford effect will mainly be on open ended funds, so ITs may in fact gain from the Woodford debacle. Although he does run the IT Woodford Patient Capital, the massive problems have been caused by the redemptions in his open ended funds.

[andyj] 28/7/2019 08:57

Of my small cap ITs none of them have been able to match the performance of my small cap ETF, including the dividends paid. I agree that the Woodford debacle has made many rethink their exposure to ITs in general. Add to that small caps being out of favour and I think we have more to fall here. On a long term view they remain a good investment IMHO. I am happy to add as opportunities arise, but I admit my ETFs will continue to be my first choice. Difficult to know how a no deal Brexit will affect the market. I think an election will be more worrying and have taken out some small hedges against a market correction.

[psync] 26/7/2019 08:28

andyj: hopefully sterling holds up against equities in that scenario! I wonder if it's the asset allocations or gearing here that are the main factor contributing to the relative poor performance.

Only thing that I feel confident about right now is my global equity index tracker but I do wonder how much of that good performance is due to the rapidly increasing popularity of ETFs rather than the underlying asset quality. Wouldn't be surprised if more people are moving out of managed funds and ITs in favour of ETFs especially with the Woodford debacle still ongoing.

Anyhow quote here for a 1000 shares here is currently 347 and last NAV was 416 giving a discount of about 16.5% right now. Some of the constituents are definitely struggling. Tyman put out quite a downbeat set of the results yesterday. Not sure whether there is a malaise across UK listed small caps in general or if it's specific to this fund.

[andyj] 25/7/2019 17:27

These have been my worst performing investment trust this year, but it is more a case of a widening discount than falling NAV. I will add, but not yet, I think the market is jittery and I am building cash for a Brexit crash.

[whilstev] 25/7/2019 16:26

Seems like all my investment trust holdings are behaving like this at the moment with discounts to NAV widening all the time. No idea why but it is the case, maybe a good time to buy.

[chc15] 25/7/2019 16:21

Why the drop, poor performance lately...

[psync] 07/6/2019 18:34

Cheers dave, will check it out.

[davebowler] 07/6/2019 18:20

ASCI looks a more consistent performer over the last year.

[psync] 07/6/2019 18:11

Hmm, little bit disappointed to see the NAV fall slightly this week given markets have been relatively kind. Excellent results from discoverIE, but Somero had a bath today which isn't going to help at all. NAV at 435.60 and price at 380 puts the discount just below 13%. I want to like this fund as I'm greedy for dividend income but just not sure if there are better options or if should just stick the cash in a global equity tracker. Ex-div next week.

[whilstev] 24/5/2019 12:00

Takeover of Mucklow which was approx. 3% of share portfolio.

[chc15] 16/4/2019 10:54

Yes looking to add to my holdings, also hold SDV, that had terrible year too!

[whilstev] 16/4/2019 10:11

Agree and I have increased my holdings. Hopefully they are now recovering from the disappointing performance of a last year.

[andyj] 16/4/2019 02:21

It is actually now the biggest discount for the past 5 years and I agree, given the yield is as you stated, could be a good time to put some away.

[psync] 15/4/2019 16:36

I think this is starting to look cheap. Last NAV at 427p puts the discount somewhere around 16% by my calculation, and yielding over 5.5%. I hold separately some of the constituents where prices are still way below the highs (TYMN, FLO, BMS) indicating plenty of headroom for growth. Hoped the new ISA season would provoke some price movement but seems it's still an unpopular share since John Baron removed it from his portfolios.

[whilstev] 29/10/2018 15:58

Warpaint down over 40% today unfortunately that will be another 4/5 pence off the NAV.

[whilstev] 25/10/2018 16:18

They were punished for the Conviviality stake and generally some disappointing performance from the likes of Clipper and Amino Tech more recently, now the discount to NAV is widening as people have pulled money from small company funds. This could reverse very quickly as and when confidence is restored. I will consider buying more AIF when the market stabilises.

[stmartin] 25/10/2018 12:58

The AIF loss has been over the last twelve months though and is much worse than other UK Smaller Cos ITs like HSL or BRTH, which is why I sold AIF first. I don't follow bonds at all, so don't know if there are reasons in that area to create worse performance.

[whilstev] 25/10/2018 12:03

Small companies are more vulnerable in market sell offs.