Close Enhanced Share Discussion Threads

[skyship] 14/9/2007 09:50

Based on the values of the commodities as at 12 September 2007 and assuming
these values were to remain unchanged through to the end of the life of the
Company, the final capital entitlement per Share on the Redemption Date would be 232 pence.

This is not a forecast nor is it a reflection of the net asset value per Share and takes no account of any unforeseen circumstances and is provided for informational purposes only and should not be relied upon for investment decisions.

Commodity Start Value As at
12 September 2007
Oil $51.15 $79.91
Gold $432.85 $706.00
Aluminium $1972.00 $2375.50
Copper $3367.00 $7396.00
Zinc $1383.00 $2760.50
Commodity Portfolio = 100.00% 166.41%

[rambutan2] 13/9/2007 08:56

hi badtime,

yes, i've not been spending much time on the pc in recent months.

[badtime] 13/9/2007 07:17

Ram w/b ltns ..hope u r well ..i'm toying with buying a few..looked at 166p and dithered :(

[rambutan2] 10/9/2007 15:42

i got back in with a few last week. am v sure that oil will be higher by 2010, quite sure that gold will be, and unsure that the base metals will be, although i don't think that they will be horribly lower.

all in all it does look a pretty good deal on current discount.

[skyship] 10/9/2007 11:22

Gold & Oil blazing, but the three metals (ALU, ZN & CU) are undoing all the good work and continue to fall - presumably those hedge funds still exiting the scene.

[davebowler] 07/9/2007 10:24

Based on the values of the commodities as at 5 September 2007 and assuming these
values were to remain unchanged through to the end of the life of the Company,
the final capital entitlement per Share on the Redemption Date would be 226
pence. This is not a forecast nor is it a reflection of the net asset value per
Share and takes no account of any unforeseen circumstances and is provided for
informational purposes only and should not be relied upon for investment
decisions.

Commodity Start Value As at
5 September 2007
Oil $51.15 $75.73
Gold $432.85 $680.25
Aluminium $1972.00 $2397.50
Copper $3367.00 $7420.00
Zinc $1383.00 $2930.50
Commodity Portfolio = 100.00% 163.28%

[skyship] 31/8/2007 18:08

Now found that those 3 metals are all on the header of the BLT thread, as is Gold & Nymex Oil - though the figure for the last is incorrect.

With Gold, Oil & the 3 metals all firm today I topped up those CED @ 165.74p. CED NAV advanced to 161.45% , ie 228p. GRY = 13.1% @ the closing offer of 168p.

[skyship] 30/8/2007 14:45

I now get Gold on the AG thread; Nymex Oil on the OIL thread; and the three metals on:

[skyship] 29/8/2007 11:26

Nabcom - thanks for that, but no, as far as I can see that site just gives ETF prices. I'm looking for the current $spot prices - perhaps I'll try Kitco....

[nabcom] 27/8/2007 16:49

SKYSHIP

Is this what you are looking for?

[skyship] 27/8/2007 16:43

Can anyone tell me or give me a link to a site where I can pick up CED's 5 constituent commodity prices (Gold,oil,alu,cu,zn); or perhaps just the 3 base metals in $?

[richandjanet] 16/8/2007 13:31

Same company launched CED2 in June similar product but includes soft commodities such as corn and wheat. 6 year life investors guaranteed 100p a share back. Currently trading at 102p

[richandjanet] 16/8/2007 08:06

Yes dave this looks an excellent investment for a SIPP. Just waiting for funds to transfer and I will have some

[davebowler] 14/8/2007 14:51

Assuming these
values were to remain unchanged through to the end of the life of the Company,
the final capital entitlement per Share on the Redemption Date would be 246
pence.
RNS 14/08/07
i.e.14.5% annual yield to maturity

[davebowler] 01/8/2007 15:05

Based on the values of the commodities as at 25 July 2007 and assuming these
values were to remain unchanged through to the end of the life of the Company,
the final capital entitlement per Share on the Redemption Date would be 246
pence.

[davebowler] 29/7/2007 09:04

Yes I agree its a double/triple play on dollar weakness.

[scatty] 22/7/2007 20:44

I am holding some of these. The basket of commodities could retrace over half the gains made since launch (2/05) and the current price should still be payable to holders on windup (subject to default risks of counterparties). I understand that the basket "end value" is the average over the last 12 months to 2/2010 - so within 18 months, the redemption value will start to be calculated.

As you say, if commodity prices stand still, there would worthwhile be gains. For me, however, this vehicle looks attractive if there is dollar weakness - as this should capture (with x2 gearing) upward moves in commodity prices.

[davebowler] 19/7/2007 15:50

Hopefully others will notice that.

[harryharris] 19/7/2007 15:19

Dave,

The discount to redemption price is the highest that it has been.

[davebowler] 19/7/2007 15:03

Based on the values of the commodities as at 18 July 2007 and assuming these
values were to remain unchanged through to the end of the life of the Company,
the final capital entitlement per Share on the Redemption Date would be 239
pence. This is not a forecast nor is it a reflection of the net asset value per
Share and takes no account of any unforeseen circumstances and is provided for
informational purposes only and should not be relied upon for investment
decisions.

[davebowler] 19/6/2007 12:48

Try AIGA an ETF.

[jagworth] 15/6/2007 23:44

There is no exchange rate risk for a UK investor because the return is based on the percentage changes to the commodities (which are traded in dollars).
It is a geared return (x2) and there is some capital protection.
But you are stuck with the basket of commodities chosen.
I hold CED as a low risk and convenient buy and hold investment (gold/oil/industrial metals). Don't want the gearing/risk of spreadbetting.
But its a pity CED2 has so much overlap (oil/metals).
There are now some ETCs for agri/soft commodities etc. Probably covered warrants would be a low risk way to get some gearing.

[scatty] 15/6/2007 18:29

Perhaps an investor could replicate CED by dealing in derivatives directly, and maybe get better gearing/potential return - but CED appears to also hedge against the $/£ movement which adds another layer of difficulty for the private investor wishing to replicate. Anyone know if the derivatives entered into by Close for CED provided unlimited £/$ hedge, or is this something which is factored in on a gradual basis - to cover the difference (exchange rate loss/gain)yet to be quantified??

[scatty] 11/6/2007 01:02

The close enhanced commodities fund II has a ticker of CED2 - refer news/quotes available via advfn news above. No advfn board yet. I agree that the inclusion of oil and base metals in CED2 overlaps exposure, and is not what I am looking for either.

[cardinal3] 02/6/2007 18:24

Hi

Any views on the new commodities enhanced offering from Close? It was launched 1 June though there is precious little info about it.

I was more looking at the agri side of investing rather than the black stuff which is easy enough to trade though the LSE