Added some yesterday, FY report shortly. |
XD for 3 pence a share on the 31/01.
Discount to NAV near 10% atm. Added a few last week.
All things being equal, would expect that discount may close
with the FY figures as their new strategy gets more attention. |
topvest, the DIG dividend looks secure imv, as it's now well over 5%,
that will have attractions to income seekers.
Would still be cautious on ASCI fwiw, I like ASEI though
following the recent sell off. |
Aberdeen’s investment strategy as a quality value investor should start to work in their favour now. They have had a rubbish performance, versus growth investors. Growth is now officially a busted flush with all the secular leaders going down fast and in a bear market. FANG stocks, ASOS, Fevertree, most other highly rated stocks all about half way down from 2018 highs. Momentum gone and 50-80% declines await. Now is the time for Aberdeen to do well. If they don’t they have lost it. |
escapetohome, I like most of what they hold.
Some of the new additions look small % holdings |
Im not an investor here, this trust was on my wathchlist, i pleased i held off. |
Yup, this doesnt seem right.
Dunedin it manager, please pay more attention to timing of investments.
It seems you rushed in on these investments , yes probably because you buy in bulk and there is not liquidity at really chrap prices, maybe.
However, investors are noticing that you were way off the ball. |
They look to be adding high growth smaller companies just at the wrong time.
One example, Dechra Pharmaceuticals.
Dreadful timing.
Adding very high PE in late cycle is risible, and costly.
I understand what they are attempting to do,
their timing is way off and may prove a costly error of judgement. |
Yes, have also been digesting the last AR & latest factsheet. All sounds good, they just need to show that they can perform & that stubborn discount should start to narrow. Revenue reserves gives them a good buffer with the dividend which they will be loathe to cut at any point due to the impressive track record.
Have to say that I do find appealing their change in strategy to increased weighting in faster growing companies with strong balance sheets & greater dividend growth potential which is in the process of being implemented. DIG is now high up on my watchlist and will be looking to take an initial position on any weakness. A bit of usual autumn market turbulence would be much appreciated. Many thanks again for highlighting. |
Hi, speedsgh,
Good to see you post here. The quarterly dividend payments have been slightly changed to make them more evenly balanced througout the year. I only expect a slight increase on last years total. (12.1p from memory)
However, with the changed investment strategy, there is no problem with dividend payments due to the large dividend reserve. I read in the Annual Report they expect to dip into the reserve in the current year. However with reduced interest payments after April 2019 and new investments in companies with strong dividend growth they expect to outperform going forward.
Goldpig |
 from Fund Manager's Report in the latest Factsheet to 31/7/2018...
The major share price movements within the portfolio were once again due to company specific events. French employee benefit and payments business Edenred increased sharply on the back of a very positive set of interim results, demonstrating the benefit of our overseas positioning in generating diverse and attractive investment opportunities. UK listed small cap life insurer Chesnara rebounded sharply on a broker upgrade that highlighted the significant discount to net assets and the attractive and growing dividend. Not owning Glencore also proved beneficial as the miner was hit by a potential US Department of Justice investigation into its conduct in a number of emerging markets. At a sector level oil companies lagged as hydrocarbon prices fell following a strong run since the start of the year amidst some concerns over rising US output. In contrast tobacco stocks continued to perform strongly, benefiting from solid results and a stronger dollar, partially reversing some of the very significant underperformance of the past twelve months. Pharmaceutical stocks also performed well primarily led by growing investor enthusiasm for AstraZeneca and their attractive revenue profile from new products.
Activity remained relatively high as we continued to shift the portfolio towards better quality, higher growth and smaller companies. As a result we introduced new holdings in life sciences company Abcam and financial services provider London Stock Exchange. Both of these are lower yielding investments but offer the prospect of double digit dividend growth for many years ahead. Abcam is a world leading franchise specialising in the manufacture and distribution of antibodies used in scientific research. It has exceptional long–term growth prospects, a strong balance sheet and the potential to significantly increase their distributions to shareholders over time. London Stock Exchange has a very strong position in the provision of exchange, clearing, index and settlement services. This provides high and resilient levels of growth that should translate into attractive levels of dividend growth to its investors.
We added further to positions in a number of mid-sized companies including Hansteen
which owns a high yielding portfolio of industrial real estate, Assura the provider of primary care facilities across the UK and Aveva the leading design software provider for oil and gas, power and marine industries. At the larger end of the market cap spectrum we also increased our holding further in British American Tobacco, attracted by the elevated yield and resilient growth and National Grid where strong performance in their US assets increasingly underpins the high and steadily growing dividend. We trimmed our position in Experian given a stretched valuation following a significant increase in the share price on the back of positive results. We also exited our relatively small position in Swiss pharmaceutical giant Roche given lacklustre prospects for dividend growth and reduced our holding in HSBC where the growth outlook is also subdued and the yield no longer offers such an attractive premium to that achievable elsewhere.
Our approach remains unchanged and we continue to focus on improving the medium
term income and capital growth potential of the portfolio while maintaining appropriate diversity and balancing the near term requirements of our relatively high yield. Benefiting from the new combined research capabilities of the firm we have an increasingly full pipeline of attractive potential investments, particularly those focused toward capital and income growth. Finding higher yielding companies that we deem of sufficient quality for long-term investment is more challenging but we continue to evaluate a number of opportunities. All of which should allow us to position the portfolio in an increasingly differentiated manner, while underpinning the dividend policy. Equity markets remain relatively buoyant although there are a number of headwinds developing, particularly around global trade and the increasingly bellicose approach of the US to the implementation of sanctions on countries such as Turkey. As such we see little reason to shift from a conservative focus on higher quality businesses. While significant movements in large benchmark weighted stocks can affect near term relative performance, given changes to the portfolio and sound corporate performance we remain confident in the total return potential for the trust. |
One of my recent (2016) favourites...interesting to see the effects of todays news |
carla me dear, ferk orf .........just be glad Nets is the forgivin sort so far. |
Ftse 350 banks index has now broken out of the descending resistance from 2011 and has officially gone from being a short term relief rally to a longer term one IMO.
The index is up 9% from when I started this thread and YTD.
The ftse 100 is up 1.3% mainly pulled up by the miners.
Mr Bluesky |
Great set of results from BLT: |
17,655!
Ftse 350 mining index up over 1% again today and more crucially it is now over the heavy resistance of 17,500.
I started this thread at the end of 2013 saying that this would be the turn a round year for the index and it looks to be the case.
Its the hot sector to be in right now.
Mr Bluesky |
29/12/13
The above chart is the FTSE 350 mining index weekly chart.
It shows that the index has been in a decline since early 2011.
The green line is the descending resistance and I believe that a break over this line will represent the end o the 3 years of pain for the index and the start of the turn around.
the vertical yellow lines show that each time the MACD has crossed over it has lead to a good advance.
Putting my neck on the line the next time the MACD crosses over I think it will break out over the descending resistance and signal the start of the mining rally.
RSI is trending up at 48 which is a good sign,along with other indicators,that a break out will happen IMO and could well happen as soon as 4 to 6 weeks from now.
Mr Bluesky
.............................................................................................................................
FTSE 350 mining index Weekly chart 14/02/14
Above is the up dated chart showing that the MACD crossed over on the weekly chart and the index is now just under the long term descending resistance dating back from 2011.
One more up week for the index and the mile stone of breaking out over the resistance will happen turning it from short term bullish to long term and propelling the mining sector back into an investable one after 3 years of demise.
2014 truly does look like the year the miners dig themselves out for the recovery. |
Looking at the ftse 350 mining index it is only a couple of hundred points from a break out from the descending resistance form 2011.
A break over 17,500 and it gets really good IMO.
Mr Bluesky |
I bought because of the breakout of the same trendline on the weekly.
Keep your eyes on IMG also, not mining but i've had a nice 30% from it from 167-207 this AM but looks to be heading higher with the hourly showing a pennant formation which should see it hit 225 where there is some overhead resistance in the name of the 200 MA |
GLEN bullish weekly chart 17/01/14
Above is the weekly chart of GLEN showing that it has broken out over the descending resistance from early 2012.
The MACD has just crossed over just below zero and The RSI is trending up into the upper 50's.
It has also broken out of the neck line of the Inverted head & shoulders pattern.
All of the above are very bullish signs of a longer term recovery IMO.
and that is why I bought in today at 340pps.
Mr Bluesky |
raj:
I hear you about the RSI but some very significant things have happened with GLEN to make me buy in.
On the daily chart it has been in an Inverted head and shoulders and has now broken out over the neck line.
On the weekly chart it has broken out over the long term descending resistance with a MACD cross over to confirm its bullishness.
Time will tell I guess and I have added my buy in price to my other thread so thanks for pointing that out.
HOC is looking tempting also,but not bought yet.
Mr Bluesky |
Mr_BlueSky65 I notice you bought GLEN at 3.40 and posted on LSE. I've been in since 3.28. It is a tricky one if you look at the daily chart RSI is approaching 70 and slow and fast stochastics are over 70 approaching what I call the Pinch trade when then fast and slow meet and the stock declines in price or side trends. The movement today has been Weak although trend wise we are over the 10/20/50/200 MAs, the question remains will it pull back or will it side trend and continue upwards, volumes are hard to discern direction. The Weekly trend is up though but we need a strong close or a pause to catch up as its moved from the 260s up to 340. |
Indeed Mr Bluesky. My attention is drawn to the sector partly from charts where the sector indices could imaginably be at a 'low' below which they should not drop. Longer term trendlines sometimes look to be attractive , although with reservations. With the miners some (RTZ,BHP) are bouncing along support lines (GLEN & AAL are more tricky). The yields dividend wise on the miners is probably high for the sector. PE ratios and MBV are low although with these cyclicals I believe that these considerations are perhaps not quite like other shares. I have never really gone in for the resources before but have built a diverse position in the last few months.
When such a sector has fallen like it has at some point the market is unreasonably overly depressed about it and it starts to offer value.
What is your reasoning ? |
There is plenty to go wrong as there is with any investment but I strongly believe that 2014 is the turn a round year for the mining sector and the year the miners dig them selves out......if you excuse the pun ;)
Mr Bluesky |
Its a question of whether this is a retracment or the start of something new. Plenty to go wrong. |
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