Chrysalis Investments Share Discussion Threads

[joey52] 24/3/2024 09:32

Been investing 20+ years, not received something like this but, others have said its nothing to worry about and I can't see anything untoward but, thought I would just throw it out there, just in case.

[donald pond] 24/3/2024 09:16

I think it basically means that it charges more than a tracker

[joey52] 24/3/2024 08:33

They say

What’s a fair value assessment?

Price and value have been highlighted by the Financial Conduct Authority (FCA) as key factors in delivering good outcomes for customers. As part of the FCA’s Consumer Duty Regulation, financial products sold to UK retail customers are required to complete a fair value assessment, using a number of factors to assess whether the product offers value to its customers.

Off-shore funds are not required to produce a fair value assessment, however we believe it's important to still understand whether they are providing value, we have therefore worked with an independent third party called 360 Fund Insight who have carried out this analysis. A PDF is available which shows some information about the methodology which goes into assessments by 360 Fund Insight.

Find out more
 
Three things you could do next

Keep the investment. You can choose to hold onto your investment. Though it’s failed a fair value assessment, that doesn’t make it unsuitable for everyone
Consider other options. You could explore alternatives that fit your financial objectives
Seek advice. If you’re not sure, it’s best to talk to a qualified financial adviser
 
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.

[barnes4] 23/3/2024 23:08

What does that mean?

[joey52] 23/3/2024 22:40

Received an Email from AJ Bell
We’ve got an important update for you about an investment you hold – CHRYSALIS INVESTMENTS LTD.
Recently, this investment failed a fair value assessment, carried out by the manager of the investment itself. This means the investment may not offer you good enough value over the long term.

[donald pond] 22/3/2024 11:47

I'm surprised we've not had some news on Graphcore. Seemed very close to being sold a couple of months ago so surely news must be coming

[bielsainvestor] 22/3/2024 09:28

Pensions provider Smart makes layoffs as it closes Series E round
Existing investors Fidelity International Strategic Ventures and Chrysalis Investments were involved in the £37.1m Series E extension

[rimau1] 15/3/2024 15:19

Andrew Haining, Chairman of Chrysalis commented: "I would like to thank our shareholders for the overwhelming support that they have shown for the continuation of Chrysalis and their vote of confidence in the management, strategy, and vision of the Company. Chrysalis was established to offer investors access to the most innovative, disruptive and fast-growing private companies that were choosing to stay private for longer. In recent years, that trend has accelerated with fewer companies coming to the public market and growth companies largely continuing their high-growth development as private companies. The fact that 97% of those shareholders who voted did so in favour of continuing the Company firmly validates Chrysalis' investment proposition and confirms shareholder recognition of the significant opportunities and value that our exciting portfolio is set to deliver. The new management agreement and the spin-out of the team from Jupiter to a new entity has been endorsed by the board, and there was resounding support from our shareholders for the new performance fee structure with 99% of the votes in favour. We are delighted to have been able to reassure shareholders of the managers' unwavering commitment to the Company and their alignment of interest. During a period of rising interest rates and a shift from growth to value, the managers have worked hard to ensure that our investments are well funded and on a path to profitability. As a result, we now have a portfolio of increasingly profitable businesses that are performing well and which we believe are conservatively valued. We believe that the prospects for the Company are excellent, and that the opportunity remains to generate significant value as the market recovers, we begin to realise gains on the portfolio, and our plan to return capital to shareholders kicks in. With a robust capital allocation policy and governance structures in place, a continued focus on profitability, and a portfolio poised for growth, we look forward to a promising future for Chrysalis."

[rimau1] 15/3/2024 14:06

Continuation vote at the AGM today and an EGM on the revised performance fee structure. Wonder if we will hear anything today.

[knowing] 12/3/2024 12:54

new CEO at Starling prior to IPO

[knowing] 08/3/2024 16:20

Interesting commentary

[donald pond] 08/3/2024 15:25

I think they must mean it is 11% of CHRY but it's poorly expressed

[rimau1] 08/3/2024 15:22

Well the IC think we own 11% of Klarna! You couldn't make it up. "With markets showing some life again, Klarna has become the subject of initial public offering (IPO) speculation, its chief executive saying a 2024 listing was "not impossible". The company is reportedly in talks over whether to use a dual-class share structure, so a listing is more than just on the cards. The valuation is expected to be around $20bn (£16bn). That could prove important for shareholders in one investment trust that has proved turbulent in recent history: Chrysalis Investments (CHRY), which backs later-stage private companies, had an 11 per cent position in the company at the start of this year. The fund has sunk in the face of higher rates, with shareholders taking a paper loss of 60 per cent in the past three years. The shares recently traded on a discount of more than 40 per cent to portfolio net asset value (NAV)

[riverman77] 07/3/2024 11:33

Unbelievable that people on this thread are more on top of the numbers than the broker. Another good update today, should help to drive the share price a bit higher

[donald pond] 06/3/2024 12:17

I got in touch with QD and you guys were right. They've amended: hxxps://quoteddata.com/2024/03/chrysalis-correction-note-published-7-february-2024/

[donald pond] 06/3/2024 08:53

No, I'm still here. Intend to hold until we get news on Graphcore, Klarna and probably Starling too. If wefox is cash positive then I doubt that will remain private beyond this year either

[rimau1] 04/3/2024 16:34

Donald did the maths and sold out!!! Joking DP...

[donald pond] 03/3/2024 15:45

I think your maths is right but I don't understand how Quoted Data, the manager and the board can have all got it so wrong.

[rimau1] 03/3/2024 15:09

Donald - did you take the 3 minutes, dust off the abacus and get comfortable with the NAV uplift of Klarna IPO'ing at $20bn?

[donald pond] 03/3/2024 09:16

https://www.klarna.com/international/press/klarna-ai-assistant-handles-two-thirds-of-customer-service-chats-in-its-first-month/More value being added at Klarna pre IPO.

[donald pond] 01/3/2024 10:30

Big trades going through and buys above 90. Wonder if Jupiter are finally finished

[74tom] 29/2/2024 15:05

We can therefore say that if Klarna IPO's at it's target price & Starling manages £3b, which should be easily achievable if it was worth £2.5b in March 2021 in a low rate environment, the current share price is covered by these two holdings alone.

I think we can therefore say that there is a substantial margin of safety here :)

This is further enhanced as the largest holding, Wefox, worth 32p of NAV, raised $55m in Nov 2023 at a $4.5b valuation from Deutsche Bank & Unicredit...