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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Axiom European Financial Debt Fund Limited | AXI | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 85.50 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 85.50 | 85.50 |
| Industry Sector |
|---|
| EQUITY INVESTMENT INSTRUMENTS |
| Top Posts |
|---|
Posted at 24/7/2023 16:32 by cousin jack Meeting is tomorrow (25th) I think ? Let's see what comes out of that(although communicating with investors doesn't seem to be a priority so I'm not sure how quickly we may hear any news!). |
Posted at 19/8/2022 11:47 by cc2014 I read it as you will be able to choose the all or part option. I cannot remember a situation where shareholders are forced from a closed end structure to an open ended one, although someone I'm sure will immediately post they can remember 20 of them.This is one crazy stock. I get why someone might sell at 88p. After all people were selling at 78p just 2 weeks ago and that was before XD as well. There's always a few people who are not well researched, or need to liquidate something in their portfolio, or perceive they can make more money on something else. Perhaps not great investors but there's plenty of them around. So, 90.5p to buy, 95.95p NAV, equals a 5.7% discount to NAV even after the news. BIPS is trading on a 4% discount (was 2% yesterday) HDIV is trading on a 1.8% discount NCYF is trading on a 5.8% premium (nuts) The buy price of 90.5p is still wrong imho for what is as stated by AXI in their RNS yesterday the best performing in the sector. Forget the scheme for a monent and consider if NCYF is worth a 5.8% premium, then AXI should be trading a premium and a decent one at that? Surely? I get why the share price continues to struggle. It's psychologically hard paying 90.5p for something which was the equivalent of 78.2p just 2 weeks ago, even if you see value. (I suspect the number of people on the edge of buying outweighs the number of people on the edge of selling. Or rather the weak sellers will do so probably in the next week, whilst the buyers hovering over the buy button will be around longer. Time will tell. I'm not bothered now. Sooner or later I'll get a decent exit price and I have nothing in particular I'd like to put the money on instead. Indeed I suspect that is going to be a challenge when the time comes) |
Posted at 18/8/2022 07:16 by cwa1 Interesting...18 August 2022 Axiom European Financial Debt Fund Limited Company update The Board of Axiom European Financial Debt Fund Limited (the "Company") notes that the regulatory transition that the Company's investment objective has sought to exploit since IPO is now drawing to a close. The Board also notes the persistent discount on, and limited liquidity in, the Company's shares despite the NAV performance track record of the Company which, in the 3- and 5-year periods to 15 August 2022, was by a substantial margin the best in the AIC Debt - Loans & Bonds sector at 6.85% p.a. and 5.23% p.a. respectively. Consequently, and in the light of feedback from a significant proportion of the Company's shareholders (the "Shareholders"), the Board has determined that it would not be in Shareholders' best interests to continue the Company in its present form and intends to put forward alternative proposals to Shareholders. The Board has been encouraged by the positive feedback from Shareholders in respect of the Company's strategy and the potential for it to be evolved to provide attractive returns into the future. The Board also notes that the investment manager, Axiom Alternative Investments SARL ("Axiom") already manages a range of other funds which follow similar strategies with success and which have seen substantial inflows of investor capital over the past two or three years. Accordingly, due to the challenges noted above, the Board intends to offer Shareholders the option of receiving cash at NAV (less costs, including any portfolio realisation expenses) for some or all of their shareholding and/or to continue their investment in an open-ended vehicle managed by Axiom (the "Proposals"). That vehicle will have a similar investment strategy to that which the Company would have proposed if it were to continue to operate as a closed-ended listed investment company. In order to effect the Proposals it is expected that the existing Company will be liquidated. The Board, together with Axiom and the Company's broker, Winterflood Securities Limited, is working on formal proposals to be put to Shareholders and will make a further announcement with details in due course. The Board's aim is for the proposals to be put to Shareholders early in 2023 and, assuming Shareholder approval is received, for the transaction to be completed as soon as reasonably practicable thereafter. |
Posted at 26/10/2021 11:31 by cc2014 The NAV keeps going up. Now at 106p yet the share price isn't moving. Looks like someone has been selling out since July.Discount to NAV is now 12.5% which seems excessive to me, especially if I compare with private investors favorite NCYF which is trading at a 9.5% premium to NAV. Edit: My purchases this morning seem to have soaked up the spare volume at 92.84. New buying price is 94.75 for the moment. |
Posted at 01/1/2016 11:02 by davebowler Market commentaryAEFD launched on the 5 November 2015 as the Q3 reporting season was drawing to a close. European banks continued the trend observed earlier in the year: more capital build-up, new rounds of cost cuts, decrease in provisions and slow-down in NPL formation, alongside marginal pressure on interest margins. On the regulatory front, the FSB drew some attention with its Total Loss Absorbing Capacity metric, leaving banks subject to structural reform in countries like the UK or Switzerland with the only option to redeem their OpCo bank capital, as Lloyds tender showed. The SSM completed its 2015 AQR for 9 remaining institutions. The largest, Novo Banco, is now clear to get sold with a capital gap below market expectations. Lastly, Italy took its turn in the implementation of the new bail-in tool, after adopting the corresponding legislation in August. It resolved four regional banks together by moving all assets and liabilities – but subordinated debt and equity – into a new bridge bank. All these regulatory developments took place against a backdrop of slowly emerging regulatory forbearance alleviating pressure on banks as they adapt their capital structures. Monthly activity On the day following the listing, AEFD deployed 40% of its capital on the full range of its strategies: 22% on its Liquid Relative Value strategy consisting of Additional Tier 1s (11%); old-style Tier 1s with liquidity (ERSTBK 5.294, PBBGR 5.864) and insurance bonds (5%); 7% on its Less Liquid Relative Value strategy with a discount perp and a CMS-linker; and 4% on each of its Restructuring and its Special Situations strategies. Capital deployed in accordance with the Midcap Origination strategy went promptly from 2% to 4% as AEFD subscribed for Tier 1 bond issued by a Danish savings bank ahead of its equity listing on the Copenhagen exchange, closing a two-month long origination process. As indicated in the phase-in guidance, AEFD invested a significant proportion of funds in accordance with its Liquid Relative Value strategy in order to positions itself using other strategies to capture opportunities over the next six months. This was done essentially on AT1s from selected issuers. A strong position was also built on Delta Lloyd old-style Tier 2 bonds (5% of capital) as a capital increase was increasingly expected ahead of its investor day. This position was reduced to 3.5% of capital after capturing 15bp of profits. As of 30 November 2015, 40% of AEFD's capital was invested in accordance with its Liquid Relative Value strategy. In parallel, the fund continued its ramp-up on less liquid instruments like fixed-to-fixed Tier 1s (6% of capital) and two bonds recently issued by Irish banks (3% of capital) while it managed to find source paper in three deeply illiquid instruments with outstanding amounts below Eur 50mn. These are typically from subsidiaries of banking groups in the process of being sold or recalibrated. As of 30 November 2015, 81.8% of AEFD's capital has been deployed in accordance with its five strategies. The NAV started with an opening level of 98.00 and ended the month at 98.19. |
Posted at 30/11/2008 12:24 by joan of arc I agree it is a total disgarace. The comment about AIM costs/distractions is a tcomplete red herring. Neither can I see that by leaving AIM they will find getting credit any easier. It is just a nasty way of disenfrachising the external PIs for the benefit of the directors and their unions/employees. Being allowed to get away with this is just another example of the cynicism shown by the LSE towards to small investors in the AIM market and of the German disregard for shareholders interests. Although it will do no good I shall definitely vote against the motion. |
Posted at 30/11/2008 10:31 by tyranosaurus This is an absolute disgrace.Small company doing well - then suddenly the rug is pulled from under shareholders feet. Should make investors think twice before investing in small companies. |
Posted at 28/10/2008 21:06 by joan of arc As an aside support the Kill the Spread campaign. It is in all our interests!!See below :- www.killthespread.co October 2008 (2) Dear Supporter, We wrote to you earlier this month with details of the Kill the Spread campaign objectives - since then word has really started to spread! Below are the links to the latest news and articles written about the campaign over the last two months. Were you aware that the London Stock Exchange is facing a High Court claim of anti-competitive behaviour from Plus Markets?? Change we need.....so what's next? Since we last wrote to you, we have been approached by several brokers, wanting to know more about the Campaign and offering their assistance! We were very encouraged by this it's comforting to know we aren't the only ones complaining about the AIM and its Market Maker system. It's killing their business too! We have learned a lot from their perspective on the way the AIM works and have now started discussions on some interesting initiatives including: 1/ Ways of creating an alternative Broker account for AIM shares, which could effectively cross stock between buyers and sellers, bypassing Market Makers and avoiding spreads. 2/ Creating a "ring-fenced" nominee account, offering guarantees to shareholders that their stock will not be loaned in the Market to cover short selling. We think these could be very compelling propositions for Investors and any views or feedback you could give us on this would be very helpful; info@killthespread.c We are also discussing ways forward to achieve the big systemic changes we are looking for with Direct Market Access, and we hope to be able to update you shortly with some very interesting developments. We are finding that there is a willingness to listen to the voice of the Private Investor, but to turn these initiatives into constructive measures, we need to prove we have sufficient numbers behind the Campaign.......... and this is where you come in! Hitting those Numbers! At this crucial stage your support is essential and we are now asking you to make a really big effort on behalf of Kill the Spread..... As a growing grass roots movement, we are now being taken seriously. We want our demands to be implemented as soon as possible and the only way we can ensure this happens is to prove beyond questionable doubt that a significant number of Private Investors are totally dissatisfied with the way the AIM market currently operates and are demanding change. In simple terms - we need to get the numbers up - and fast! 5,000 supporters = ACTION! Our target is to get to up to 5,000 supporters. We're getting there but we need to get there quicker!! We are currently up to just over 1,300 supporters on the Poll - so there is still a way to go. We are getting publicity but we really need the word to spread......So please, make sure you tell as many Investors you know about Kill the Spread. You can spread the word in the many ways: Talk to others Investors about the campaign Post a link to the site on your Blogs Post a link to the site on Bulletin-boards, Tell people in you Share Club/Investor Group Tell Everyone!! Ask people to sign up at the website and get them to complete the on-line poll it won't cost you anything and will only take a few minutes of your time. Help give us a real push and remember if every supporter brings in just 3 new supporters - our numbers will quadruple!! We are now on the brink of making a real difference for all Small Cap Investors - so a big push for more supporters right now is just what we need! Thank you once again for supporting Kill the Spread with your support change really is possible! Kind regards Campaign Coordinator Kill The Spread www.killthespread.co info@killthespread.c Please email us at info@killthespread.c Recent News: The London Stock Exchange is facing a High Court claim of anti-competitive behaviour from Plus Markets Great Article by Tom Bulford another mention from Dominic Frisby (mention is at the end of this article) |
Posted at 28/9/2007 11:10 by knowing I don't know why I do it butINVESTORS CHRONICLE Tips: *Buy BAE Systems (BA.) at 477p - Accident Exchange (ACE) 142p - Velti (VEL) 203p - Powerfilm (PFLM) 410p - Sanderson Group (SND) 51p. *Sell HMV (HMV) at 113p. Updates: *Buy Axis Intermodal (AXI) - RAB Capital (RAB). |
Posted at 18/7/2007 23:08 by power talker Quotes -4-All. Please understand one thing ....You do not get to me, i am intrigued at your ability to miss value in much more positive prospects, ie companies i am in..I visited this thread to see what type of company a master stock picker like yourself might buy. I can frankly say i am disappointed. This is by no means what i had in mind as a Quotes for all perspective winner. A director bails, they buy a business that is having severe operational and financial difficulties. What you fail to inform potntial investors is that the cost of this mis managed acquistion will be reflected in next years results. Ok they paid a small dividend this year and showed a small profit, but i think it will be safe to assume that next year investors can quite rightly expect a loss. By the sounds of it this acquisition is a money pit.. |
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