I would say LWDB (Law Debenture), which is selling itself as quality + income.
Like FCIT and WTAN, it has been around for donkeys years.
They are now 80-90% UK, 10% US.
The odd thing about LWDB is that you actually own a company with a more run-of-the-mill IT attached to it. LWDB tends to trade at a premium and emits shares every now and then.
I hold FCIT, WTAN, LWDB and of course AGT as building blocks in my portfolio. FCIT/WTAN being the "boring but safe" bits.
You could also do worse than looking at AJOT, another trust run by Bauernfreund at AVI. AJOT is also usually trading at a premium. |
vacendak, Very droll.
I'm new here. I've held ( and still do hold ) quite a few income orientated trusts but in the last couple of years have only really been try to buy quality ( good historic total return trusts ) and a few index trackers. I'm hoping i won't need to cash in for 8-10 years.
I've got a few of these
FCIT
BUT
BNKR
WTAN
BGCS
and of course VWRL
I know these are large trusts and they have cross holdings. But in my head i like to think that adding new ones is diversifying.
Any more ideas ? |
I predict that on January 17th, 2022 Joe Bauernfreund will make a catastropic mistake and the share price will drop by 80%. |
Always interesting to read the AVI Global annual report and what they have as their top holdings. They are a good trust with a sound investment style that is good for a total return in excess of 10% per annum long term. |
In full, and always an interesting read: |
An unchanged final dividend of 10.5p in early January before the 5:1 split. A bit stingy but we are not here for the income, nor for the return from £32M or so spent on buybacks although it seems they are helping to close the discount without much improvement to NAV.
Thinking I might top up my holding at the time of the split, AGT has been performing really well and looks set to continue ... given the nature of the underlying investments do you think it might hold up through the inflation cycle better than, say, equally high performing small cap or growth trusts? |
Yes, it did not take long. |
Here's the sub-division we expected. 5 new shares for every 1 current. |
Break a few thumbs, telling people "We know where you kids go to school...", or "Nice family you have..." then the 15% discount will narrow.
I love funds that are actively managed. :) |
How amusing, the biter bit.
Like AGT the Third Point fund is up over 40% so far this year, so they are doing something right, the discount around 15% is unwelcome though. It will be interesting to hear what AVI are trying to achieve and how. |
Getting "active" with TPIL today. |
NAV 1st November 2021 was as follows:
Net Asset Value -- Debt at market value: 1,159.04 pence |
27th October 2021
Net Asset Value -- Debt at market value: 1,140.88 pence |
Now that the NAV is above 1,100 the ticks up look bigger and bigger. A +11p change is "only" 1% now. :)
Still some way behind more generic "globals" over 10 years like FCIT (Foreign & Colonial) and WTAN (Witan) and only closing on FCIT at 5Y. That being said, AGT has done very well over the past three years indeed, so kudos to the manager. |
25/10, and now 1139.58 pence. Having bought all the way up, I failed to top up when they were 9 something. I’m doubting I will have another such chance. Bravo Joe B, he has made a big difference over the past few years. |
22/10 Net Asset Value -- Debt at market value: 1,127.89 pence |
A splendid year. The headline discount slightly narrower but the underlying holdings at a slightly wider discount ... outlook for more of the same or does the macro backdrop change prospects? Happy to be fully invested here hoping "value" will win.
Not quite 4 million shares bought back into Treasury over the year. Is that money well spent, is it making a difference to the dividend or the NAV or the discount?
A 10 for 1 split to increase trading volume? |
There could be talks of a share split soon, we seem to have cleared the £10 milestone for good. BNKR had one back in March and WTAN in 2019. |
The monthly report for September is out. |
The Kepler note is now available on the Avi global site without the need to register. |
For those interested - |
www.ajot.co.uk/content/uploads/2021/09/AJOT-AUG-2021.pdf |
Net Asset Value -- Debt at market value: 1,088.22 pence |
Eye popping bargains in AJOT (But I hold AGT as a proxy) www.ajot.co.uk/content/uploads/2021/09/AJOT-AUG-2021.pdf
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