Augmentum Fintech Share Discussion Threads

[rimau1] 18/12/2023 08:38

SKY, before you tip augm. What was your 2023 tip?

[rimau1] 17/12/2023 17:31

Sphere 25 - only joking with you but i did get an ST and Sphere bounce again, twice this year! Light hearted banter. I am a long term bull here and at TMT, both stocks should do 50% in 2024 IMO. Arguably TMT is more undervalued with the Bolt IPO in 2025. AUGM is a slower burner.

[kenmitch] 17/12/2023 12:22

Good article from Citywire on AUGM:-

[kenmitch] 15/12/2023 14:34

SKYSHIP.

Just in case of interest to you or anyone else I’ve posted below a post I did on Stockopedia on the day AUGM issued their Results. There’s growing interest in Investment Trusts on Stockopedia. I bought then and intend continuing to hold unless there’s an (unlikely) disappointing update.

“I bought Augmentum Fintech (LON:AUGM) at 89p today after their very encouraging results.



Since IPO in 2018 AUGM has had an unbroken run of NAV increases, though the latest increase to 160p is small. Yet the share price has gone from the biggest premium of any Investment Trust at one point to a now big 41% discount! And if stripping out the £58 million cash the Discount is 51%. So while NAV has gone up consistently the share price has gone down consistently.

Note that AUGM have £58 million in cash and no debt. Their top 3 holdings, TIDE, GROVER and ZOPA and the cash are above the current AUGM market cap, with no value at all attributed to their £125 million of other investments.

So far AUGM have had 5 realisations since IPO and all were above the holding value.

They have been buying back shares to try and reduce the discount. They can’t issue new shares while AUGM is at a discount but the bought back shares will be held in treasury to potentially be reissued if AUGM goes to a premium again. NO chance of that for a good while but very good chance of the discount narrowing from current undeserved extreme level.

This is yet another example of Investment Trusts being SO out of favour with discounts at near record levels. The tide will turn at some point, and AUGM looks yet another oversold Investment Trust worth checking out.

28

[skyship] 15/12/2023 13:54

Thnx Ken.

AUGM now my largest holding having started buying at 83.9p.

Planning to make it my Tip for 2024 on my JDT thread; so hoping it doesn't run too far ahead by 31st Dec.!

[kenmitch] 14/12/2023 13:11

AUGM was tipped again in Telegraph Questor column today,

[sphere25] 14/12/2023 12:58

There is a notable stream of buying coming in here. I don't know if this is all on the back of Powell yesterday (and the party in the US) or some of it is to do with ST.

Another plug here from ST:



Some interesting comments in there.

(I'm boring, I listen to all sorts!)

Current price in the market is 101p with the bid offer sat at 101p-103.5p. The buys going through the market are almost bang on the chart resistance here. Still have sellers in size lobbing there keeping the price from breaking out.

If the buying picks up here, those sell orders sat at 103.5p on the offer could be under threat. The Bulls need to, not only take control of that key pound mark level, but also that 103.5p level and then this likely breaks higher.

It is a real lumpy illiquid one this - can move 5% on nothing volume too.

Volume currently 523k. No position here, just keeping an eye on the book and buying to see if does balloon for a possible trade.

All imo
DYOR

[skyship] 04/12/2023 13:22

People paying up to 102p as the bid rises to 99.5p.

Regret only having a 6% allocation here, but already on a significant profit.

Won't be selling however. This looks like one to hold for at least a year; by which time something in the 120s more than likely IMO.

That initial 108p target in my 136 above looks quite possible in the pretty near future.

[milliecusto] 04/12/2023 12:46

Well overdue this rise

[eeza] 30/11/2023 16:15

Offer dropped, so may be a large delayed sell.

[toffeeman] 30/11/2023 12:57

Ha! now at break even (finally!)

[888icb] 30/11/2023 11:14

Very good presentation this morning on Investor Meet. I think the CEO is very impressive and they have an impressive portfolio that is performing well. I will continue to add to my holding safe in the knowledge that the top 3 holdings and the cash pile are more than the market cap, so all the other investments are in for free.

[milliecusto] 30/11/2023 09:41

All buys this morning, looking very strong

[skyship] 29/11/2023 10:11

93.55p bid...

[skyship] 29/11/2023 08:02

Re-tipped by ST (IC). These are going up.

Annoying really as was going to add having seen the CEO's interview with Ian King on SKY News.

[trekker60] 28/11/2023 17:09

Have recently contemplated selling out of this one due to wider fintech sector concerns but to my amateur eye, today's results are very encouraging so now happy to sit tight.

[rimau1] 28/11/2023 11:57

ST bounce possibly this afternoon, hopefully Sphere comes back and we will break £1.00! On fundamentals this is as cheap as TMT. Hold both for 24 months and there is some serious upside IMO. Unlike TMT we have a serious amount of cash to deploy at the bottom of the cycle next year.

[skyship] 28/11/2023 11:54

Top of the falling trendline is 108p - could we get there?


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[makinbuks] 28/11/2023 11:49

Yes me too, I particularly like the final bullet you have cut and paste from the announcement together with the comment from Tim Levene: ".......offer exceptional opportunities for us to deliver a stand-out vintage in 2024 and 2025.”

[888icb] 28/11/2023 11:14

Good to see AUGM Number 15 on the Leaderboard Up 8.52% at 90.82p on the back of today’s interim report:
“ Financial highlights

• NAV per share after performance fee1 increased by 0.8% to 160.2p (31 March 2023: 158.9p).
• IRR of 16.6%2 on invested capital since inception (31 March 2023: 18.5%)
• Available cash at period end of £51.8 million (free cash of £48.0 million) with no debt (31 March 2023: £38.5 million).
• Repurchased 3,918,878 shares over the period, at an average price of 99.2p per share.”
This share price of 90p is totally ridiculous against an NAV per share of 160p of which £51.8 million is in cash. The assets are performing well:
“ The top 10 holdings, which represent 82% of portfolio value, grew revenue at an average of 74%3 YoY and have an average of 29 months cash runway. 4 of the top 10 positions are cash generative.
• The sum value of the top three holdings in Tide, Grover, and Zopa, plus current cash, is above the Company’s market capitalisation. These positions continue to demonstrate their credentials as fintech market leaders, growing revenues by an average of over 1,200% since the Company’s investment and are either profitable or capitalised until projected profitability.”;
This is due a large rerate and I am looking forward to the Investor presentation on Thursday.

[rimau1] 28/11/2023 07:33

Impressive performance with NAV still marginally growing y-o-y which surprised me given fintech external markets and shows the management discipline. Top 3 holdings (zopa, tide, grover) plus cash are greater than our marketcap so the continued share buyback remains earnings accretive. Happy to sit and wait for the discount to close. Zopa could IPO in 2024 which would be another trigger.

[wsm812] 15/11/2023 11:01

I note that the bybacks have resumed, this bodes well for all holders.

[skyship] 15/11/2023 09:51

AUGM now picking up: 85.0p - 86.5p

[skyship] 06/11/2023 11:22

A shot of where we are:


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