Chrysalis Investments Share Discussion Threads

[speedsgh] 24/4/2024 16:10

Klarna scores major payment deal with Uber ahead of hotly anticipated IPO -

[barnes4] 24/4/2024 15:17

Soothing words need to come from this outfit sharpish

[speedsgh] 23/4/2024 10:23

Related news...

Ben Whitmore and Chrysalis exits lead to £1.9bn outflows from Jupiter -

[onjohn] 22/4/2024 21:20

Chry should be concentrating on investments not this, you lost money on Revb, took a smack now move on

[bielsainvestor] 22/4/2024 13:57

Tipped in Friday's FT:

Fintech finally starts to add up for investors

"...One repercussion is that we may see more fintechs list on stock markets over the next year. UK-listed venture capital fund Chrysalis — one of my favourite investments at the moment — has a stake of about 1.1 per cent in Klarna, on a net asset value of $11bn, whereas the rumoured IPO price is closer to $20bn. Another key holding for the investment trust is insuretech business WeFox, which is showing signs of rapid growth...."

[speedsgh] 22/4/2024 08:13

Update on claim against Revolution Beauty Group PLC -

Further to comments made in the Company's FY23 Financial Report and Audited Financial Statements, the Company has not been satisfied with the limited responses received from Revolution Beauty and its legal advisers to date, and accordingly the Company issued draft Particulars of Claim to Revolution Beauty on 19 April 2024. The draft Particulars of Claim note a claim of £39m, together with a claim for consequential losses of a further £6.2m. The Company considers that it has a strong case and is willing to pursue it.

[speedsgh] 17/4/2024 16:50

Apologies. The article is marked as published at 09.52 this morning. AJ Bell covering themselves in glory again. They're doing well at the moment what with the 'fair value restrictions' furore as well!?

[rimau1] 17/4/2024 15:38

Must be an old article speedsgh as Starling have already hired a new CEO. A Romanian bank also went live using Starlings tech last week too which is going to be a huge growth engine

[speedsgh] 17/4/2024 14:54

Starling Bank has been talked about as an IPO candidate for years, so could 2024 finally be the year its IPO happens?

The bank made £194.6 million pre-tax profit in the year to March 2023 and a 29% return on tangible equity. Growth has come from increased lending and a higher base rate – the latter is an area to watch if the Bank of England starts to cut rates as that could have a negative impact on Starling’s earnings.

Costs have gone up at a slower pace than revenue and overall fixed costs are lower than a traditional bank because Starling is not weighed down by clunky legacy technology systems that have been an anchor for many of its bigger rivals.

The key hurdle to clear is finding a new chief executive as founder Anne Boden last year surprised everyone by stepping down after a row with investors.

[joey52] 12/4/2024 08:44

Article on AJ Bell not allowing certain trusts to be bought.

hxxps://citywire.com/investment-trust-insider/news/aj-bell-blunders-deepen-row-over-fair-value-restrictions-on-trusts/a2440235?re=119168&;refea=6181

[stemis] 10/4/2024 18:13

According to the AJ Bell website - "If you don’t pass the assessment, you won’t necessarily be barred from investing. AJ Bell Youinvest will send you a secure message advising you that it doesn’t believe the complex instruments are suitable. You can reply with a declaration stating that you would like to proceed and the deal will go ahead..."

[donald pond] 10/4/2024 12:11

I am starting the debate (again) https://www.linkedin.com/posts/paul-de-gruchy-4565a42a_investmenttrusts-activity-7183764696934588416-iO9t?utm_source=share&utm_medium=member_ios

[riverman77] 09/4/2024 18:39

It's more the principle here - someone blocking me from investing on the basis that it's deemed too risky in some way! And also pretty inconvenient dealing on the phone, as I was kept waiting a good 10 minutes (not the usual dealing service which is fairly quick, but had to be put through to a separate dealing team to unblock it). More seriously, I suspect this decision could be a factor in the recent share price weakness.

[rimau1] 09/4/2024 17:52

First world problems riverman! Phone dealing and security at AJ Bell i find very efficient, 2-3mins at most, clearly an inconvenience but a mild one surely...they also still just charge you the online rate even though its over the phone.

[riverman77] 09/4/2024 17:48

Yes really bad. After speaking to them it appears to have been driven by the FCA, supposedly to protect retail investors. If you want to deal you need to call them up each time and ask them to temporarily remove block, but this generally involves a 10 minute wait and getting through all the security questions each time.

[noiseboy] 09/4/2024 16:05

Hmm they have done that to me with #PNIX as well !

[riverman77] 09/4/2024 15:38

Just tried to add a few of these on AJ Bell and informed it is restricted from dealing. I presume this is something to do with the idiotic risk warning they sent a couple of weeks ago saying CHRY may not offer value for money. I also wonder if this is the reason for the recent weakness - if investors can't buy it then that's surely going to weigh on the share price. Really annoying that brokers are interfering in this way.

[speedsgh] 07/4/2024 09:22

CHRY included as one of the picks in this article...

Peel Hunt: Seven big trust bargains for when the storm abates -

[speedsgh] 04/4/2024 08:12

Citywire had to update the above article later in the day yesterday following a call from AVI pointing out that they had increased their shareholding in CHRY to 8.4% in March...

Asset Value Investors hails Chrysalis ‘inflection point’ with 8.4% stake -

[bielsainvestor] 03/4/2024 09:32

Asset Value Investors hails Chrysalis ’inflection point’ with 5.7% stake

Activist manager of AVI Global scoops up £27m position in Chrysalis Investments, making it the recovering growth capital fund’s largest shareholder.

Investment company activist Asset Value Investors has scooped up a £27m stake in Chrysalis Investments (CHRY), making it the largest shareholder of the growth capital fund that looks to build on a strong recovery in the past year and put the trauma of its 2022 crash behind it.

Stock exchange filings show AVI bought a 5.7% stake in Chrysalis on 27 February, two-and-a-half weeks before the investment company passed a continuation vote with the support of 97% of voting shareholders.

Most of the stake is held in AVI Global (AGT), the £1bn investment trust managed by AVI chief executive Joe Bauernfreund, which specialises in buying out-of-favour closed-end funds and holding companies.

The filings indicate just over 2% of AGT’s assets are in the late-stage private equity fund run by ex-Jupiter fund managers Richard Watts and Nick Williamson.

This puts AVI in the driving seat to ensure Chrysalis continues to prioritise shareholder returns and narrows its wide discount.

The shares have staged an impressive recovery in the last 12 months, rallying 60% on hopes of interest rate cuts and the flotation of holdings such as credit provider Klarna that could fund a £100m share buyback programme.

However, they are still less than a third of their peak in September 2021 and trail 45% below net asset value (NAV).

‘With a maturing portfolio and potentially more supportive IPO markets ahead in 2024 and 2025, we believe Chrysalis is at a key inflection point with scope for material NAV upside from what is now significantly more conservative carrying values for its key assets,’ AGT’s head of research Tom Treanor said.

‘While the new capital allocation policy ensures that the next £100m of exit proceeds will be deployed into share buybacks that will be highly accretive given the very wide prevailing discount to NAV, we look forward to continuing our constructive dialogue with the board – as the company’s largest shareholder – on what a longer-term capital allocation policy might look like.’

AVI’s purchase comes not long after managers Watts and Williamson spun off the the £887m portfolio from Jupiter, which they manage at their new firm, Chrysalis Investment Partners.

This is the second time in the past year that AVI has emerged with a big holding before a continuation vote.

In September it hiked its position in Hipgnosis Songs Fund (SONG) to 3.1% a month before two key shareholder meetings. It successfully led investor opposition to a controversial asset sale that saw the company lose the continuation vote, prompting a strategic review under a new board.

[joey52] 01/4/2024 22:13

NickGrant2.
It seems most firms have trusts they won't let you invest in or have to prove you know what your doing
Halifax allow CHRY but won't let you invest in TFIF or SMIF.
It was the first notice I had received about an existing trust that I invest in.
A tad annoying

[chris79] 01/4/2024 14:39

Yes, this is the finance industry now. We will keep going until every single person is employed in such areas of compliance

[nickgrant2] 01/4/2024 12:06

Joey,

"Regular Investment

Please be aware that if you have a regular investment in this product set up this will no longer be able to continue, any other products in your regular investment will be unaffected. You will not be able to set up a regular investment in this product until the result of the value assessment changes."

Does this seriously mean some pen-pusher is now deciding what can and cannot be invested in, after some other pen-pusher decides what is and is not fair value?

THis is the journey towards destruction of capitalism

[rimau1] 28/3/2024 17:31

Good spot, very excited about Brandtech, another IPO ready part of the portfolio and a top 4 holding of Chrysalis

[bielsainvestor] 28/3/2024 16:27

Brandtech raised more funds now valuing it at $4bn