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Share Name Share Symbol Market Type Share ISIN Share Description
Fair Oaks Income Limited LSE:FAIR London Ordinary Share GG00BF00L342 2017 SHS NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.0025 0.38% 0.6525 0.63 0.675 0.6525 0.64 0.65 724,618 08:00:26
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments -1.4 -2.3 -0.5 - 305

Fair Oaks Income Share Discussion Threads

Showing 326 to 347 of 350 messages
Chat Pages: 14  13  12  11  10  9  8  7  6  5  4  3  Older
DateSubjectAuthorDiscuss
29/3/2021
08:01
Sorry about the double post, for some reason ADVFN won't let me delete the text. As expected another roll over into longer dated shares. I was very suspicious of this last time (2014 shares) but it all seemed to work perfectly fairly. We just need to keep track of what will for a while be three lots of shares in circulation: 2017 shares, 2021 shares and C shares. Also confirmation that the norm now is quarterly dividends. Looking forward to the next one in May.
grahamg8
29/3/2021
08:01
As expected another roll over into longer dated shares. I was very suspicious of this last time (2014 shares) but it all seemed to work perfectly fairly. We just need to keep track of what will for a while be three lots of shares in circulation: 2017 shares, 2021 shares and C shares. Also confirmation that the norm now is quarterly dividends. Looking forward to the next one in May.
grahamg8
11/3/2021
07:38
NAV is actually down. What they don't explain is that the 2.5c dividend has been taken off the previous months NAV before working out the change. Poor communication rather than devious to not tell us how the figures were worked out. Stellar performance is slowing but still very healthy and looks to be enough for the next quarter dividend of 2c to 3c.
grahamg8
18/2/2021
10:24
Liberum; Event Fair Oaks Income Fund's NAV per share at 31 January 2021 was $0.664, representing a 5.3% NAV total return in the month. January's NAV performance benefited from upward revaluations in certain investments with short reinvestment periods. Rising loan prices have increased the liquidation NAV for the equity tranche holders. There is further potential upside for these positions from refi/reset activity. Loan markets were broadly positive in January, with returns of 1.2% in the US and 1.0% in Europe. Loan prices have benefited from rising demand from retail inflows into US loans funds as investors seek floating rate exposure due to a steepening yield curve. 12-month trailing default rates have continued to decline and are now 3.4% in the US (previously 3.8%) and 2.1% in Europe (previously 2.6%). CLO spreads on new issues have compressed further in January. AAA US and EU new issue spreads fell to 1.15% and 0.87% at the end of January compared to 1.32% and 1.06% in the prior month. The positive environment should create opportunities for CLO equity holders to refinance or reset the CLO liabilities at more attractive levels. Master Fund II is nearing the end of its investment period. As previously indicated, FAIR will offer shareholders the opportunity to participate in a new share class that will invest in a new Master Fund, similar to the approach taken by the fund in 2017. The new Master Fund will reinvest principal receipts received from the current Master Fund in a new pool of assets, with a fixed investment period and maturity. Liberum view The tightening of CLO liability spreads is set to continue as investment demand strengthens. In combination with improving fundamentals (lower default rates, rising OC test cushions), the environment for CLO equity and mezzanine returns remains very favourable. Significant refinancing activity is expected in 2021. Equity tranches should benefit from a lower cost of capital, resulting in higher expected IRRs. Debt tranches also offer upside through repayment at par and we note several of FAIR's CLO debt tranches experienced large price increases during January. FAIR's flexible mandate leaves it well-placed to capitalise on relative value opportunities across CLO structures.
davebowler
09/2/2021
17:33
Davebowler, I have just seen your 478 on the VTA thread covering Liberum on Fair.. A forecast for a 26pc NAV increase caught my eye noting the decent December 20 NAV performance although that the buy price today at 65 is higher than the 311220 NAV. My question to myself is as a £ investor at these exchange rates do I want more US$ assets.
cerrito
02/2/2021
07:40
13 November 2020 post 142: Biden stimulus package - check, Covid vaccine - check, more income - 2.5c check, share price growth - check. The world has moved on a long way in 10 weeks and FAIR seems to have stabilised which is great news. I'm particularly pleased with the reference to 'quarterly' dividend. That sounds like a lot of confidence going forward, even if the size of the dividend may be a bit lumpy.
grahamg8
14/12/2020
21:10
As at the close of business on 30 November 2020 the estimated unaudited Net Asset Value of the Company's Shares was as follows: Fund Name: Fair Oaks Income Limited NAV 2017 Shares USD: 0.5877 Monthly Performance: 6.95%
rambutan2
27/11/2020
17:31
NASA started assembling the SLS rocket on 19 November. The biggest in the world (of course), just about matched by the FAIR share price with a bit of luck.
grahamg8
17/11/2020
14:22
600k at 57c a chunky punt by somebody.
spectoacc
13/11/2020
07:39
Historically the share price has followed the NAV very closely. The link was broken in roughly November 2019 but is much closer now although still lagging by a few %. My point being that if the NAV keeps going up or even stabilises the share price lag will eventually follow. Biden is tipped to launch a major stimulus package which should reduce the risk of loan defaults, plus with the prospect of a Covid vaccine we should be looking for more income and capital growth. Nice.
grahamg8
13/11/2020
07:20
+4.65% the next in the series of 2 posts above. So still gaining, and by more than even a qtly XD in a month.
spectoacc
05/11/2020
14:25
No move on 2.2c XD, but not unreasonable considering the rate they're earning.
spectoacc
20/10/2020
07:37
A rock bottom price you could have bought at in the market tho - lower in fact :) But yes, they're shooting the lights out with the monthly return once again. Last 6 months: +6.95% +4.14% +2.83% +8.45% +10.03% +13.04% Hope I'll be forgiven for not quoting the earlier month in that series ;)
spectoacc
20/10/2020
07:28
Dividend, yesssss. See post #126. In fact 2.2c in the quarter is higher than the historic 0.7c per month. Another jump in NAV bodes well for an share price rise when the markets open. Although down on capital over my 5 year holding, when the dividends are added back I am in the black, wow. Plus traded out at the end of 2016 and bought back in early 2018 for a little extra return. Overall not too unhappy with the way things have gone. Still disgruntled with the new share issue as I can't help feeling there was a bit of sculduggery in crashing the share price and then almost immediately bringing in new investors at a rock bottom price.
grahamg8
18/9/2020
21:03
I'm on your side Specto. No dilution to holders and the opportunity to pick up some gems at very distressed prices, to the benefit of all holders. What's not to like?
rambutan2
18/9/2020
20:28
But why not buy at a lower price in the market, if concerned by share issuance at higher prices? Obviously hasn't diluted by the amount the portfolio has "bounced back" by, unless the cash raised wasn't deployed, in which case the dilution would be proportionate to the number of shares issued. Or looking at it another way - your argument is that NAV and share price would be higher now, if they'd never raised those 3 tranches & hadn't had that cash to invest at or near the bottom? I'd argue the opposite. Did Numis respond to you, out of interest?
spectoacc
18/9/2020
07:34
@grahamg8 - agreed, and the NAV is "last reported", ie by the 27th of the month (one of the share issues) it could easily have moved by more than the quoted 2% premium. But - the point stands - anyone bothered by it could have bought more cheaply than the placees, in the market. And without this cash to invest at the time, the rest of us wouldn't be enjoying the same level of returns we're now getting.
spectoacc
18/9/2020
07:26
There is a difference. NAV drops by half due to covid and collapse in values of secondary finance market, you would need to be pretty brave to buy more shares. Investment manager comes for a cosy chat and says we've decimated the share price but things aren't so bad as we can see some juicy returns from new investment opportunities, are you up for it? Remember there is no active market for a lot of these loan packages and the 'value' is very much a matter of opinion.
grahamg8
18/9/2020
06:55
Covid may have something to do with the returns. But otherwise agreed re performance. There were a series of small placings, all done at a premium. Surely anyone concerned could just buy in the market?
spectoacc
17/9/2020
19:45
We wouldn't be getting those monthly returns without there having been new money to invest - and all issued at a premium I believe, so not dilutory.
spectoacc
17/9/2020
17:39
The new investors got a good deal. The existing investors were shafted.
grahamg8
17/9/2020
08:04
Agreed, and should perhaps caveat the figs with the point that a 50% fall requires an 100% rise to get back to where it started. They raised money at the right time.
spectoacc
Chat Pages: 14  13  12  11  10  9  8  7  6  5  4  3  Older
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