Share Name Share Symbol Market Type Share ISIN Share Description
Ashmore Global Opportunities Limited LSE:AGOL London Ordinary Share GG00BJJMSL63 ORD NPV (GBP)
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 1.52 0.00 00:00:00
Bid Price Offer Price High Price Low Price Open Price
1.42 1.62
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments -4.98 -53.32 55
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 1.52 GBP

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Date Time Title Posts
03/3/202118:58Ashmore Global Opportunities163

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Posted at 07/2/2023 08:20 by Ashmore Global Opportuni... Daily Update
Ashmore Global Opportunities Limited is listed in the Equity Investment Instruments sector of the London Stock Exchange with ticker AGOL. The last closing price for Ashmore Global Opportuni... was £1.52.
Ashmore Global Opportunities Limited has a 4 week average price of £0 and a 12 week average price of £0.
The 1 year high share price is £0 while the 1 year low share price is currently £0.
There are currently 36,201,861 shares in issue and the average daily traded volume is 0 shares. The market capitalisation of Ashmore Global Opportunities Limited is £55,026,828.72.
Posted at 02/7/2018 09:19 by horndean eagle
ZIM Labs had an IPO last month. Shares up from 160 to 445. Not sure whether AGOL's stake got sold at IPO or not and if so whether they got an uplift to book value. It was 5.3% of nav. Not sure whether these proceeds helped bump up the 40% or so returned to us as AGOL pointed out the current distribution was based off cash they have as of end May. Actually some excitement left in the portfolio so wouldn't be surprised with further NAV upgrades.
Posted at 03/12/2013 21:25 by cerrito
I see they wrote the equity down by 26% as at June 30; despite this the %age of Odebrecht;s share of theportfolio went up marginally from 12.26% to 12.31%, the reason being that in the first half financial investments declined from $458m to $335m.
Someone had their eye off the ball

Posted at 08/8/2013 21:19 by cerrito
As I want to get clarity for how these asset managers report their holdings when they have a multitude of funds I phoned up the Blackrock people to see what significance there is if it is in the name of Blackrock Inc or one of their funds; where it says Blackrock Inc it means holdings in all funds managed by Blackrock; could not get an answer as to why there was the June 26 RNS for the Channel island Funds but I guess as the trade was done in two years ago there was an operational screw up.
The price seems low-even after the late rise this pm; Barclays have suspended on line trading until they have processed the share redemption which they seem to be labouring over.

Posted at 07/8/2013 15:48 by cerrito
The way I read today's RNS Blackrock have gone up from 6.1% of the company to 13.82% since June 26 and so somewhat surprised that the share price adjusted for the recent return is still under 540p-mid price.
Posted at 17/7/2013 20:37 by marben100
Hi Cerrito,

Re the NAV: don't forget that 28th June was exactly at the low point in the market. Things have rebounded substantially since then.

Thanks for asking for the report: I'd like to see that too.

Presumably you haven't seen this evening's announcement:

"Further to the approval by the Company's shareholders of the winding down proposals as described in the circular to shareholders on 20 February 2013 (the "Circular") the Company today announces that it will return 26.17 pence and 26.60 US cents per GBP and USD share respectively on 2 August 2013 (the "Redemption Date") by way of a compulsory partial redemption of shares (the "Redemption") by reference to the 30 June 2013 NAV Calculation Date..."

Only a small redemption this time, but looks like we'll get them quarterly now. I'd expect the next one to be a bit bigger - and with considerably more to be returned in 2014, based on this from the annual report, issued in April:

"The initial distribution relating to the quarter ended 31 March 2013 will be US$88.8 million with payment expected to take place on or around 3 May 2013. The Board expects that approximately a further US$40 million will be realised during the following six months and that, including the above mentioned distributions, in total approximately 50% of the 31 December 2012 NAV will have become available for distribution by 31 December 2014."



Posted at 07/5/2013 12:30 by fangorn2
Large reduction in stake by Schroders...

Posted at 25/3/2013 19:26 by centipede
Thanks for that, Marben100 - makes sense, and explains why the share price hasn't gone higher.
Posted at 25/3/2013 17:54 by centipede
I've just bought some AGOL, and am interested about how this is going to play out.

The main attraction is the discount to NAV. On 28.2.13 the NAV was £7.89, and the shares recently cost me £5.85. This means that if they liquidated, then I should get a 35% uplift.

However, they are going to take their time over winding up, with quarterly redemptions of shares at NAV, totalling 50% by Dec 2014. The remaining portfolio may take even longer to realise – up to three or more years beyond this.

The basic problem with this share is that the underlying value (NAV) has gone down significantly over time – a reduction of 22% over the last 5 and a half years, with no signs of this changing.

The underlying investment approach is 'Dynamic strategy investing across all Ashmore's investment themes including external debt, local currency, special situations (incorporating distressed debt and private equity), corporate high yield and equity'. However, as far as I can see, the succes of the underlying investments rests on unknowable things such as the future price of ethanol in Brazil, with the invested-in company currently taking on more debt.

I am therefore doubtful if we can expect NAV to increase, and the long term trend might even continue.

Given a 50% return of NAV over the next 21 months, along with a halving of our shares, I make this equivalent to approx 13% per annum over that period. OK, but not stonking, and the NAV could always (continue to) fall.

Shame they can't just sell up straight away – anybody know why it's all going to take nearly five years?

Posted at 10/2/2013 10:40 by rambutan2
I tend to the below view that the nav has growth in it...

In October, the discount to NAV widened to 45%. We bought more of the USD class shares and established a holding in the Sterling class shares. I then wrote to the fund's Board in early November pointing out that "the Company's share price discount to NAV has widened significantly to 45%, making it a significant outlier (in a bad way) in the closed-end fund sector." I added that "this must be a major embarrassment to Ashmore, the manager who are a member of the FTSE 250 index and a leading investment manager in emerging markets" and "a major impediment to Ashmore raising new funds." I suggested to the Board that "in light of the very wide discount to NAV at which the Company's shares are trading, the ineffectiveness of the small share repurchases and dividend, and the disappointing NAV performance, we believe that the Board needs to take drastic action in fairly short order and that the Company should return capital to shareholders through tender offers, dividends or capital distributions in a tax-efficient manner until the original capital raised in the Company's IPO has been returned to shareholders." I am pleased to report that the Board listened and followed my suggestion. They went one step further and on 12th December, they announced a "managed wind down" whereby the Company's assets will be realised for cash over the next few years and returned to shareholders. The share price of the fund bounced as a result of the Board's announcement. We think there is still considerable upside for investors. The current NAV per share is just over $8 per share compared to a share price of $5.25. As recently as September, my main contact at Ashmore suggested that the Company could increase the NAV to $15 per share by the end 2016. We think that is probably too optimistic but if the fund can return $12 per share over 3-4 years during a managed wind down, that will represent an excellent return for shareholders based on the current share price.

Posted at 04/2/2013 02:12 by rambutan2
Yes, wonder how much share price will jump on today's opening...

Capital return strategy

The Company's portfolio is at present invested approximately 85% in funds managed by the Investment Manager ("Funds") and approximately 15% in three direct investments. Approximately 70% of the portfolio is invested in Special Situations, mainly in five Special Situations funds, which by the date of the EGM will, where applicable, all have reached or be shortly reaching the end of their investment periods and in the three direct investments, which are all co-investments with the Special Situations funds. For those Funds which are still in their investment period, the Company may be required to make further capital commitments in respect of amounts which are currently undrawn.

Conditional upon the approval of the Proposals by shareholders, the Board intends to distribute shortly after 31 March 2013 the cash and liquid funds currently available for distribution by the Company to shareholders by way of a pro rata redemption of shares at NAV.

The Board will make subsequent quarterly distributions to shareholders once investments are realised and the proceeds of such realisations are received by the Company. The Board will make quarterly distributions, by way of pro rata redemptions of shares based on the Company's NAV at 31 March 2013, 30 June 2013, 30 September 2013, 31 December 2013 and quarterly thereafter, provided the Company holds cash or cash equivalent proceeds at such quarter end of at least $10 million. The Board may also make distributions by way of dividends or otherwise return capital to shareholders.

The Board expects that approximately $60 million will be available for distribution to shareholders shortly after 31 March 2013, a further approximately $75 million will be realised during the following six months and, including the above mentioned distributions, in total approximately 50% of the current NAV will be available for distribution by 31 December 2014. The remaining portfolio is expected to be realised beyond this date and may take three further years or longer.

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