Ashmore Global Opportuni... Share Discussion Threads

[rambutan2] 24/8/2010 23:11

Petron sold...

[rambutan2] 27/4/2010 00:00

(Goodish) Happenings at (approx 9% of AGOL's nav)...
First, a recap:


and then today:

[topvest] 19/4/2010 18:44

Nothing too exciting announced with the results. EGM / small capital return on the cards. Lots of noise about the discount. Best if we hold for the medium term imo. They should just buy-back shares when the discount widens to +20% and keep buying. Overall, the discount will depend on how well the company is perceived and will self-correct if they do well. Happy to hold. Jury still out though on this one!

[rambutan2] 10/3/2010 23:16

the informative monthly fact sheet etc is here...

[simon gordon] 10/3/2010 11:32

Rambutan,

Cheers.

[rambutan2] 09/3/2010 23:24

I would ignore most of that article as Bengt clearly didnt do his homework. It's not a debt fund - over 80% of the assets are in special situations (hence its name!) which are much more akin to private equity/hedge fund strategies, although importantly Ashmore don't use leverage. And Goldmans ended up with a huge amount of shares because they underwrote the ipo. Ever since, they've been reducing.

That said, I do like the fund and believe it good value at the current price.

[simon gordon] 09/3/2010 17:18

MoneyWeek - 9/3/10:

A fund focused on EM debt

Ashmore, the EM specialist, launched an investment trust called Ashmore global opportunities (LSE:AGOL) towards the end of 2007. Because the fund is an investment trust, it cannot advertise in the UK and flies somewhat under the radar of most investment managers.

AGOL's assets are focused on EM debt. AGOL holds the companies that are enjoying rapid growth and, more importantly, has access to the financial firepower to profit from economic instability.

It should be an excellent insurance policy against concerns over Western government debt default. Remember, the EM are where the banking reserves lie today. These are the markets that will benefit if assets get cheap again.

AGOL's net asset value (i.e. what shareholders would get back if all its assets were sold) is £8.62, yet the shares trade at £6.70. With the shares trading at a 23% discount to NAV, they look cheap.

The NAV is likely to climb as the markets price in the benefits of debt reduction and lower interest rates for many of the companies in the fund. On top of this, EM currencies are likely to continue to strengthen as fears grow about over-indebted Western governments.

As EM currencies strengthen, AGOL's results get better and better.

Goldman Sachs backed AGOL from the launch. You can say what you like about Goldmans – but they're rarely criticised for lack of acumen. Their name on the share register is reassuring.

As a 'safe haven' investment, don't expect stellar returns. That said, a narrowing of the NAV discount should provide some additional upside. This stock should deliver inflation-busting returns with a free insurance policy attached.

The shares trade on London stock exchange (LSE: AGOL).

• This article was written by Bengt Saelensminde and was first published in the free daily investment email The Right Side

[fleascool] 26/11/2009 13:31

I currently use Killik for my SIPP.

However, have my holding through my hfax nominee account.

[rambutan2] 26/11/2009 00:51

fleascool, thanks for that, would you mind saying who your broker is.

There has also been talk that Pacnet (currently 5th largest holding) may go for a listing next year.

www.agol.com

[topvest] 06/11/2009 11:39

I have bought some of these. Looks an interesting emerging markets fund and it also looks like they may be planning some kind of annual capital return going forwards which will help to close the large discount.

[bengt] 23/2/2009 18:20

Hi,

I'm a holder, and called the management team last week to find out anything about the wind-up as there's no detail about how this may happen in the prospectus.

They couldn't say much, but the indication was that there was only a small chance of winding up the trust. Most of the assets are invested in the special situations fund which are illiquid and would take many years to realise. ~The announcement is just a formality, as there will need to be an egm to take a decision now that the price has traded below 90% of nav for over a year.

I agree that they are cheap at this price, so I've bought some more. The fund itself has been buying back shares in the market too, this can only help NAV.

I think that this is a long term investment. I have bought it to diversify away from the risk of currency turmoil of the so-called hard currencies.

[borchardt] 19/2/2009 19:39

Just in case you looked over this and thought this does not sound very interesting take a look at the thread I set up for TRIO and then DYOR.

[borchardt] 19/2/2009 19:05

This Investment Trust is currently priced at a 40% discount to net asset value. The latest nav issued gives a nav from the end of January 2008 as £8.48 with the shares seemingly stuck on £5.00 to buy.
Not very interesting so far you might say but take a look at the announcement this week where the trust managers are looking at winding up the trust. There has been a reasonable amount of buying since the announcement but the offer price has not budged.
Maybe there is a large seller who needs to clear their holding before this can move. Does anyone have any other knowledge about this stock that may help?