thames -
i see what you mean...
However, if India funds remain undervalued, there will be a move back ...
j |
seems i was right |
I would have thought China's stimulus would have helped, overall (?)
The fall from 2% premium to nearly 5% discount has something to do with SEBI, the Indian Regulator's comments that small Indian stocks have stretched valuations.
But AIE invests in major companies and the comment is just not true for AIE's main sectors like banks and insurance. Tech & Zomato are growing at enormous rates (Zomato at above 60% p.a.)
India's growth potenital remains huge, and I doubt the AIE discount to NAV will remain for long.
J |
Dropped to a discount |
Is China's stimulus sucking all the cash out of India? |
Slightly bizarre as all the UK India ITs went up yesterday because of the Indian election results, but today they drop like a stone - very strange! |
Looks like India's election results are hitting the share price this am. |
SP has risen 20% since those posts, funny how quiet some BBs are... |
Cannot really say, in the end I decided to stay away from country specific ITs, except for UK and Japan. I got burnt with BGCG. |
Thx .. Jii any better do you think ? |
I looked into it a year or so ago. I thought the fee was a bit steep for "just above okay" results. |
Worth investing ? |
Article in IC today pointing out that it has changed it's investment policy , intending to double the number of holdings it has. Points out the high management fees when you include the 3 yearly 30% NAV increase fee, which is currently midcycle, but cautiously recommends it.
My question, if the fund underperforms over 3 yrs, will the managers pay back 30% of the loss?
No , thought not.... |
Trading at a premium to NAV. Someone expects outperformance. |
Continuing outperformance, but Covid may have an impact on the Indian economy as a whole. Looking forward, this should still be a sensible investment.
Trading at near asset value. |
hxxps://ashokaindiaequity.com/wp-content/uploads/2020/12/Ashoka-India-Equity-Investment-Trust-PLC-Factsheet-November-2020.pdf
Nov 20 factsheet - out performing Indian market.
Prospects good |
 A couple of relevant points taken from the above:
1) The Company may seek to address any significant discount to NAV at which its Ordinary Shares may be trading by purchasing its own Ordinary Shares in the market on an ad hoc basis. Investors should note that the repurchase of Ordinary Shares is entirely at the discretion of the Board and no expectation or reliance should be placed on such discretion being exercised.
2) The Company has a redemption facility through which Shareholders are entitled to request the redemption of all or part of their holding of Ordinary Shares on an annual basis. The next Redemption Point for the Ordinary Shares will be 30 September 2020. The Directors have absolute discretion to operate the annual redemption facility on any given Redemption Point and to accept or decline in whole or part any Redemption Request. (see pg32)
3) The Investment Manager has agreed not to receive a fixed management fee from the Company in respect of its services provided under the Investment Management Agreement.
4) The Investment Manager is entitled to receive a performance fee subject to meeting the relevant performance criteria. The performance fee is designed to reward investment outperformance by the Investment Manager, through delivering excess returns versus the benchmark index to the Company’s shareholders over the medium-term. (30% of outperformance of MSCI India IMI Index (in Sterling) over 3yrs. Capped at 12% of nav. Paid in shares, not cash.) See pg46 |
Latest factsheet: |
Investment Objective
Ashoka India Equity Investment Trust plc (“the Company”) is a high conviction long-only equity investment trust. The investment objective of the Company is to achieve long-term capital appreciation, mainly through investment in securities listed in India and listed securities of companies with a significant presence in India.
The founder and designated partner of the Investment Adviser, Prashant Khemka, generated peer group leading performance over various multi-year periods, from inception until leaving in 2017, for the Goldman Sachs India Equity strategy and also for the Goldman Sachs Emerging Markets Equity strategy. |
All the best to you too Irene & all the regulars.
Many Bulls still in denial that we are entering a Bear market whether it be a Teddy Bear or Grizzly Bear.
The writing has been on the wall for some time if the Advance/ Decline line had been watched.
So we can expect more of the same this coming week & Autumn.
The Test & Measurement sector is a complex area & Keysight could be in for a rough ride despite their Q3 results this last week being positive. I shall watch Keysight, Anite will prove to be a shrewd purchase for them but if the market falls 50% Keysight could fall sub $20.
GLA |
With the current slump and the appalling performance of Spirent I wonder what Anite would have been trading at now. Probably not 126p. In the short term I think the directors may have done the right thing. If not and the value of the Anite brand goes up I daresay Keysight might try and refloat it, particularly if they want a presence on the LSE. Anyway, I got paid yesterday so goodbye and best wishes for the future to pico and all the rest of the long-suffering Anite punters on here.
IRENE |
.was on holiday so didn't realize when it would de-list...was waiting for the 2nd bid with a view to get out about now regardless...
phooey
Understand the money is due 27th AUg latest
Craigy |
All finished - no trades. It's been an adventure. So long, adiós |
Yes quite. Hl have told me I get cash at 126p with no dealing costs so planning to let it just happen. Can anyone think of a smarter thing to be doing...? |
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