Edinburgh Investment Share Discussion Threads

[chc15] 20/11/2020 08:49

Half yearly report, very poor, still can't beat the ftse all share index, don't think it ever has. Why bother, just hold a cheap tracker instead. I'm still holding for now btw.

[topvest] 08/11/2020 16:41

Yes, they have kept an option to hold the dividend next year if things go well. I thought that as well.

[aurelius5] 06/11/2020 14:45

A decent medium/long term hold. I expect the 24p dividend to be in place for the next couple of years, but their debenture has been refinanced favourably as of 30/9/22 and this should make its way through to distributions.

[steve3sandal] 04/11/2020 13:21

I’m quite happy with a base of 24p and a growth and income strategy. I expected it to be less than 20p. We do need the stock selection to add value though else we are all busy fools.

[gregmorg] 04/11/2020 11:48

Mm, I have quite a number of these but I do not like the supposed "new" dividend strategy. Yes these are difficult times. However, as always, with new strategies investors need to look beyond to more normal times.

The "cleverness" of the new four times 6p followed by a Special tells investors that this Trust is freeing itself up/preparing for a further cut down the road. So the annual base case is the 24p from which percentage increases may, or may not com., That is the base from which the Trust will use and comment upon. That means the Special is conveniently taken out of the headline calculation and manipulated or forgotten "as it's a Special" and judged on as is convenient.It tells me something about the management thinking and its view of investors. Trouble is its not that flavorsome!

[ec2] 04/11/2020 10:06

Bought some more of these at just under 450p now that the worries re the div have been resolved. I like the portfolio as a good means of buying the bombed out uk market in a slightly more concentrated way with the added benefit of the now rebalanced sustainable 5% plus div and the 12% discount. Others I know think the UK is bombed out for a reason, but I think it's gone down too far...time will tell.

[poikka] 03/11/2020 08:53

And this won't be the last to cut the divi - it's not the first. Temple already has, and maybe others. For sure, others will do likewise.

Still, a 'secure' 24p ain't bad.

[chc15] 02/10/2020 11:32

Agree, it's strange ppl have lots of positive comments abt Majedie and the portfolio here. Reality is they are poor. That dire performance speaks for itself. Another failure for active mgmt.

[chc15] 01/10/2020 10:21

Yep, I fear this trust just can't recover from the Invesco damage. Majedie seem lame. Meanwhile my SMT holding keeps flying, do I sell down to add to this, hmm.

[kiwi2007] 30/9/2020 08:00

Not even successful closet trackers. Yes, they've tracked the FTSE100 but, since the end of March, they are down about 12% against the FTSE250.
And, in that time, they've borrowed money to buy back 1.6 Million of their own shares at a higher price than todays.

[chc15] 28/9/2020 11:14

Indeed, atm seems Majedie are just closet trackers.

[essentialinvestor] 25/9/2020 14:46

Well EDIN keep buying back shares, appreciate it's only going to make a
marginal difference to NAV, but better than nothing.


Bottom line is they need to demonstrate some benchmark outperformance.

[chc15] 25/9/2020 09:11

Been taking profits from my SMT holding, and buying this along with CTY, MRCH and DIG. Not sure if this is a good strategy, but long term holds here.

[kiwi2007] 25/9/2020 07:13

Well, hopefully they know what they're doing. I hold primarily in the hope that they do and that the discount comes down. At the moment I'm down 9% so less than happy but it's perhaps more to do with the UK governments incompetence rather than the stock pickers at EDIN.

I see that since April they've dumped HSBC, Vectura and Glaxo and added Roche Holding, Standard Chartered and Reckitt Benckiser.

[gateside] 24/9/2020 20:50

Cheers have added IVI to my watch list.I'm OK with these trusts having exposure to Financials, as I sold my Banks & Insurance shares at the beginning of the year. And see Investment Trusts as a way of adding a safer way of having limited exposure to Financials. Also bought a handful of MYI in the summer too. Hopefully I have bought MYI and MRCH at knockdown prices and am looking for a couple of other Trusts to add a bit of extra diversification.EDIN and IVI might fit the bill.

[essentialinvestor] 24/9/2020 20:22

MRCH tend to primarily focus on dividend
rather than total return - the Manger may argue otherwise.
That income looks to have come at the expense of total return.

Added some IVI this AM.

[gateside] 24/9/2020 20:19

Been tempted to add to MRCH but considering buying a few here instead, think EDIN have a better portfolio, and MRCH is having a torrid year.

[essentialinvestor] 24/9/2020 20:11

Edited, should be comprehensible now ).

[chc15] 24/9/2020 20:02

Lol none of that makes sense.

[essentialinvestor] 24/9/2020 16:43

Bought a few before today's close that I sold yesterday at 5.45.

[chc15] 24/9/2020 08:46

Nice to see mgr James buy 11k or so..

[essentialinvestor] 24/9/2020 00:53

kiwi, you've looked through the full portfolio holdings on their website I'm guessing?.

Thanks for the view.