Caledonia Investments Share Discussion Threads

[topvest] 30/5/2013 10:35

Yes, steady as she goes. Would like to see what their new investments are going to be, but their bigger ones are still doing quite well.

[qs9] 30/5/2013 09:11

great results IMO, still sitting at big unwarranted discount IMO, good income as well....happy to hold...

[argoal] 30/5/2013 09:01

This is interesting, again from the finals:

'By taking advantage of rising markets, we have built up a cash reserve of GBP96m, which represented 7% of net assets at the year end, from a position of net debt of GBP37m at the beginning of the year. In the volatile climate we are currently experiencing, we believe that cash is an important part of asset allocation, as this provides us with both downside protection and the flexibility to react quickly.'

I noticed they have been selling down Close Bros and a few other assets and are hoarding cash at the moment in anticipation of a correction to the markets and any opportunities that brings. Seems like a reasonable plan at this time.

[argoal] 30/5/2013 08:54

From the final Results:

Net asset value ('NAV') per share total return increased by 19%, driven by gains across our investment portfolio and a growing income stream. The board is recommending an overall dividend for the year of 47.2p per share, an increase of 10% over last year reflecting greater income generation following the portfolio rebalancing. This has enabled us to increase the dividend by 34% over the last three years and the current year's dividend will represent the 46th consecutive annual increase for shareholders.

Kind of gives me a warm feeling.

[1nf3rn0] 08/5/2013 21:44

Yep looking good. Still can't believe quite how lucky my timing was getting into this 12 months ago.

[argoal] 08/5/2013 10:39

No increase in Nav this month (£22.84), but the share price continues to rise and the discount continues to narrow.

[qs9] 11/4/2013 18:42

just getting better and better....looking forward to next update given the increasing NAV statements!

[qs9] 11/4/2013 08:34

NAV at nearly £23....looks pretty good IMO...anyone's view? Market liked it as started moving up again....

[coolen] 01/4/2013 23:58

Sister trust Hansa has had a good run recently on the back of their increasingly valuable stake in Ocean Wilsons (listed in Brazil).

The whole set up used to be incestous, but quite transparent.

However, I don't know what remaining stakes are still held by Caledonia in either company, but I'd be surprised if Caledonia did not have some exposure to both.

Worth watching the discount on Hansa as well as that of Caledonia.

[qs9] 30/3/2013 10:34

when is next update or results due anyone? would be good IMO if these can help continue rise and narrowing of discount to what hopefully will be an increased NAV...

[argoal] 19/3/2013 12:32

you are right they did redefine their strategy while back based on 4 themes one of which was income. The dividend should grow in the next year or so to reflect the new strategy.

That in part probably accounts for the reduction in discount as income is more popular than growth these days.

[coolen] 19/3/2013 12:24

Sorry to be lazy but did I read some months back about a new fund manager, proposed change of investment policy and greater emphasis on income as opposed to growth stocks ?

[argoal] 19/3/2013 09:50

Nav 2235p as of 7th Feb.

I think the discount has also narrowed from 25%+ not so long ago to around 18% today.

[qs9] 05/3/2013 09:00

Continuing it's great form...

[argoal] 08/2/2013 08:01

Nav 2179p now

[1nf3rn0] 16/1/2013 20:59

Good to see CLDN have used the run up in Close Brothers share price to cash in sell a few tranches.




Should help reduce discount to NAV.

[jaws6] 07/1/2013 16:14

NAV rns out of 2063 p

[topvest] 02/1/2013 21:50

Lots of disposals here at the moment. Begs the question what they will re-invest the proceeds into, other than the income and growth fund. Interesting to see how the new strategy unfolds, but more than happy to hold.

[jaws6] 02/1/2013 21:01

JPEL,AGOL,DNE,NRI,BSRT

[1nf3rn0] 02/1/2013 20:31

Yes, very good return from the asset sold today. This was massively oversold last May wasn't it.

BTEM is another of my fundies that has been doing well recently, they've got a good long-term track record. I'm still sticking with RCP, although it has lagged over the last couple of years. I like RICA too. Any other fund tips for 2013?

[jaws6] 02/1/2013 09:18

Good RNS out
LAST nav was 2027

[arja] 06/7/2012 12:40

why such a big % discount to NAV ? these investment trusts are an enigma as one never knows if a wide discount is saying something bad about the trust or just the market being inefficient at times !

[1nf3rn0] 03/7/2012 10:59

Damn that was a good time to top up! Very rare I call the absolute bottom.

[1nf3rn0] 31/5/2012 08:29

Looks like a reasonable time to start topping up. I'm doing the same with RIT too and may add to my BTEM.