Doing some research today... Picked up that Witan Investment Trust owns more than 5% of Apax Global Alpha.
Now that Witan is merging with Alliance Trust, there may be some concern that Witan's Investment Trust holdings will be sold off. |
Looking at the chart, there has been an almost continuous slide over the last 3 years. When the rest of the market has been growing, that suggests deep issues. I can't spot anything significant. What am I missing? |
Nice dividend received today at least ... |
Like an ingenu, waiting to be fleeced, I took a few at just under 136p. Looks reasonable value assuming there's no nasties in the offing that we're unaware of(imagine that!)) |
Frustrating to see this trickle downwards...
But we're still getting our 8% yield and the cheaper the share price, the more NAV accretive the share buybacks. It's just one of those ITs we need to be patient with and ignore the day-to-day... |
Well it's divi day tomorrow so may rise a bit on reinvestments? |
Cheap at 135'ish pence? Cheap-but there's a good reason for it? Or, don't be so daft CWA1, it's not cheap at all, what are you havering about?!
Any views welcomed :-) |
Thanks for your feedback - I'm planning to double my holding here to get some more private equity exposure (I like the dividend payouts too) but must say I don't fully understand the business ... |
Can't explain though a rising tide should lift all boats eventually. That's my hope. BPT has had upgrades recently whilst Apax took a small hit on one of its holdings. Looks a real bargain to me in the 140s ..but who knows. |
Why has Bridgepoint virtually doubled from the lows but shareprice here remains in the doldrums ? |
XD this morning in case anyone was wondering. Pay day is 3/10 |
CT private equity ? |
Small allocation in SIPPLooking for one more PE trust with a decent dividend |
Have built a position here too GLA |
This has done suspiciously well since purchase! Hmmmm |
Also added more 140p. Full holding now. Will let it play out over the longer term now. Hoping bottom is in and nav starts to improve into 2025. |
Given the current share price discount to NAV, it should narrow as interest rates continue to fall. In the meantime the dividend provides an attractive real return. |
I see what you mean CWA1; looks reasonably safe for a 1% allocation for a c.8.23% yield. |
Decided it's worth a small punt at 137p, so taken a few |
Seems a crazy low price 139p - or maybe got this one wrong. |
Added, seems left well behind by Mr market. |
Buybacks appear to have restarted. I wonder if they read ADVFN? 🤔 |
Very disappointing that the buyback programme has hardly been used since it was announced on 26 June. 210,000 shares have been bought at a cumulative cost of £330,547 (approx EUR 393,000) over just trading 5 days with the last buyback taking place on 3 July. 210,000 shares acquired represent just 0.45% of the 73,616,005 shares they are authorised to purchase. They have used approx EUR393,000 of the EUR30m seed funds in the Distribution Pool.
This is going to have zero effect until they back up their words with concrete action and show that they are genuinely serious about narrowing the excessively wide discount to NAV. |
I have to agree with you, @ItO. Prioritising the buybacks at a time when the discount remains so stubbornly wide seems sensible to me. And the level of the new absolute dividend (11p) is sufficiently attractive to keep income investors (or growth investors looking for an attractive income alongside) interested & invested here imo. There is nothing to stop them from reverting to the previous dividend policy once the situation has reversed and the discount narrowed to more normal levels, although I accpet that they may just decide to retain the absolute dividend with the possibility of supplementing it with special dividends rather than going back to a dividend as a specific percentage of NAV. They are prely adapting to a changing/changed situation and realigning priorities AFAICS. The only criticism I might make is that they might have done this sooner. AIMHO |
Maybe , but not too much of issue given it's a sizeable payout. They seem committed/responsible to rewarding shareholders appropriately |
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