Gcp Infrastructure Inves... Share Discussion Threads

[ec2] 15/7/2021 09:13

Good to see the NAV rising again at last up 1.42p per share over the last quarter to 30th June. Biggest contributer was the 1.9p uplift due to upward revision in forward power prices. This should have a similar read across to other renewable stocks in the sector.

[panshanger1] 06/7/2021 10:29

Gradually grinding higher here

[chucko1] 01/7/2021 11:48

Most informative - thx for the link.

[goodpick] 01/7/2021 09:45

hxxps://quoteddata.com/research/gcp-infrastructure-penalised-conservative-mc/


Worthy read.

[luckymouse] 29/6/2021 18:19

free stock charts from uk.advfn.com

[panshanger1] 29/6/2021 12:28

Big line gone through today

[stewart64] 29/6/2021 12:21

Totally predicted on here. No doubt it will get played with again come September at dividend plus one month.

[1jdoe] 29/6/2021 09:36

PEEL Hunt, thank you for the opportunity to buy at such a wonderful price a few days ago (96-97p). Id personally like to take the opportunity to congratulate your algorithm which currently lets you buy shares at well under the offer price on level 2 (buys look like sells), your suppression is welcome for anyone who likes to make money from you. Well Played.

[ec2] 22/6/2021 10:30

Just like buses. Another director has bought shares. Again just a small purchase, this time 15,000 shares but it's a start.

[chucko1] 21/6/2021 14:31

Yes, although hardly more than this year's ISA allowance. But from tiny acorns ...

[ec2] 21/6/2021 14:04

Hooray!! At last. A director has just bought some shares.

[williamcooper104] 18/6/2021 14:08

Very good points That's exactly what happened - GCP started out with what's probably been the best risk/reward fixed income product of the last 15 years - PFI sub debt As that's amortised down they've kept the yield by going up the risk curve Net result the share price is below IPO (from memory) HICL IPOd around the same time and is c1.7x up from IPO

[apollocreed1] 18/6/2021 13:54

@EC2 -Very good points. Would be constructive if they could be emailed to the Investment managers.

[williamcooper104] 18/6/2021 11:17

Cheers for that

[panshanger1] 18/6/2021 11:13

A few buyers coming in today It's been a while !!

[ec2] 17/6/2021 16:15

To expand on my post 256 last week. Despite my patience wearing thin I remain a holder as I think there is opportunity for the share price to be turned around. I don't have a problem with the fund management group as put simply they follow the mandate approved by the NEDs. My beef is with the NEDs. As previously mentioned, I have issues with their high remuneration, lack of skin in the game, and sitting in their roles for too long. The fact that none of the six has any obvious credit/fixed income market experience is also IMO a big drawback. There appears poor strategic decision making when loans have very profitably been repaid early. This repayment of funds appears squandered by chasing yield further up the risk spectrum and into other areas. I would have preferred these funds to have been returned to shareholders either via special div or tender offer.
The comparison to the board at SEQI says it all. Just four NEDs, three of whom have credit/fixed income experience, all have skin in the game and total board remuneration is over 40% cheaper. GCP's relative underperformance of the share price/to NAV evidences investors' losing faith.
IMO share holder faith would be improved by replacing some of the long term NEDs with new blood with more relevant market expertise and moving away from what on the face of it appears a cosy group of Jersey residents.

[rambutan2] 17/6/2021 15:41

Williamcooper104, re your above Odey comment...

[williamcooper104] 17/6/2021 11:41

Share the same goal My mortgage servicing rights went up last night and my US REITs/US low duration credit assets didn't sell of much Commodities took a hit - but have had a great run on them so well above water Would love to invest in a fund that just bought deeply out of the money options on various key macro trends to get a good general tail risk protection Oddey has as you say had a mixed record -The funds open ended which puts me of as in a melt down you could see him Woodfording - appreciate his assets are currently liquid

[epistrophy] 17/6/2021 11:30

Michael Burry (of "The Big Short" fame) has a similar trade on: short TLT, an ETF of long-term US treasuries. This would be feasible as a retail investor, either as an outright short or with options.

[brwo349] 16/6/2021 15:55

GCP describe their portfolio as "partially inflation protected". This will do better than most if inflation takes off.

[chucko1] 16/6/2021 14:39

I should think you can buy/sell Gilts on 5% initial margin (or the very long ones). 2yr Gilts likely on 0.5% initial margin. Tightest margin instruments out there. Corporate bonds (A-rated, say) would require far more.

Odey has a lot of experience with high leverage and shorting, although with very mixed results the past 6 years or so. But a 350% position is pretty easy to understand, especially where the worst that can really happen is that they move 100bps lower in yield (so need to find 30% of the fund in cash). If you are long and it goes wrong - say rates go up 200bps or more, then you are toast as you would need to sell everything else in the fund rapidly. And good luck with that in a riotous market.

If the central bankers are incorrect in their inflation assessments, this will be extremely messy, and a mixture of the short Gilts and inflation-linked REITs will allow me to keep my head above water and then buy what is being thrown away in a market in meltdown. That's the theory, but it would not look like March 2020 - I think it would be rather worse.

[williamcooper104] 16/6/2021 14:14

That is punchy indeed - I thought Odey had a position that was 3.5x levered - not that the whole fund was 3.5x exposed But if you are buying it as a hedge then that's doing what you want

[williamcooper104] 16/6/2021 14:12

There's plenty else to hit GCP

[williamcooper104] 16/6/2021 14:12

It's 3.5x the movement - so if the long gilt falls in value the position pays out 3.5x the fall in value - and of course if gilts rise in value - then you get 3.5x your losses

[chucko1] 16/6/2021 14:11

Not that interest rates is the cause for GCP taking another beating today!