Hansard Global Share Discussion Threads

[jrr774] 21/6/2011 18:46

SM many thanks for the detailed write-up. However it sounds as though VW gave a pretty lightweight presentation as described. Was he able to counter any of the risk issues mentioned (and others hinted at) during the meeting? What was the overall impression of those in attendance (if you gauged this)?

[stemis] 21/6/2011 17:06

Yes, I read it.

[stemis] 21/6/2011 13:27

Anybody fancy posting a precis of the presentation yesterday?

[envirovision] 21/6/2011 12:53

Nice rise, can it last? Thanks David for yesterday evening it was really enjoyable and interesting.

[davidosh] 17/6/2011 03:30

Any more for dinner ?

[paul_butcher1999] 15/6/2011 07:31

this is all brilliant news - means the value of existing policies (currently worth more than the share price) is (literally) pretty nicely locked in.

[robsy2] 14/6/2011 15:00

bisiboy
You make a good point.
While the policies are not expensive vis a vis other offshore suppliers esp if you avoid the penalty charges but; many people do get hit with charges which is bad news for them rather than Hansard.
Can they continue to sell the policies?
For the time being yes I think so, because there is not a lot of alternative in the markets they operate in and as an organisation they compare reasonably favourably with the offshore competition and it is a pretty tightly run organisation.

[simon gordon] 11/6/2011 12:24

Panmure - 10/5/11:

Hansard has previously reported that it had been subject to a number of policyholder complaints in relation to the selection and performance of assets linked to policies. It has now confirmed that it has recently been served a number of writs arising from the complaints. No provisions have been set aside, suggesting that it believes the complaints have no merit. We have no feel for the quantum of the litigation but suspect that it will be relatively small given previous comments by the company.

-----

I remember a family friend had an Allied Dunbar policy, it was disgusting the level of charges.

[bisiboy] 11/6/2011 12:11

i was reffering as you rightly say to both the upfront charges and inbuilt penalties on the regular premium contracts
although common practice as you say offshore the world is moving on and
people are becoming more aware of costs and value for money.
how many of you owning shares in this company would be happy to buy one of their policies?
you should ask if you go to the presentation what the huge surrender penalties
are on the regular premium business which effectively locks people in.

all i am saying is that yes the shares look cheap and are very cheap if they
can continue to sell these policies with high charges and penalties.

but the offerings i have seen are as bad if not worse than the old allied dunbar and directly door to door policies that used to be sold here through people like
canterbury life etc.
either through regulation or awareness i just cant see these margins being maintained.

[lynton3] 09/6/2011 23:19

enviro/typo - thanks, that's very helpful; think I will add!

[envirovision] 09/6/2011 15:45

hynton, some index trackers and ETF funds will hold and be forced to sell. Generally they sell in advance of the exit so as to have funds to then buy the new entrants in good time.

What IC were saying is that by the time the share is ejected everyone has sold so the share then tends to recover and so they were saying a good investing method would simply to buy the shares on the day they are ejected.

[typo56] 09/6/2011 15:12

I think it probably failed the liquidity rule.

"An existing constituent which does not turnover at least 0.025% of its shares in issue (after the application of any investability weightings) based on its median daily trade per month for at least eight of the twelve months prior to the annual index review will be removed and will not be eligible for inclusion in the UK Index Series until the next annual review"

[lynton3] 09/6/2011 12:13

Can anyone explain the significance of HSD being excluded from the FTSE All Share Index and why this has been done? Is likely to be the reason for the recent fall in the share price?

[envirovision] 09/6/2011 10:16

That's what people were telling me when I was buying RSL at £2.10 or AV. at £2.90.

There was an interesting research article in Investors Chronicle recently about stock recovering after being kicked out of an index as funds tend to sell leading up to the event. Not sure if its as applicable to smaller caps like HSD though.

[simon gordon] 09/6/2011 10:09

Enviro,

No, the chart is putting me off.

[envirovision] 09/6/2011 09:50

Are you buying then Simon ?

[simon gordon] 09/6/2011 09:35

I made a mistake, exclusion is from the All Share Index:

Yesterdays FTSE UK Index Series Annual Review June 2011 (bit of a long list):

FTSE 100 Index

Inclusions
SEDOL Company
0875413 Tate & Lyle

Exclusions
SEDOL Company
B1Z7RQ7 TUI Travel

Reserve List
SEDOL Company
0575809 Meggitt
B1XH2C0 Ferrexpo
B132NW2 Ashmore Group
0233527 Croda International
0003128 Aberdeen Asset Management
B0SWJX3 London Stock Exchange Group

FTSE 250 Index

Inclusions
SEDOL Company
B1Z7RQ7 TUI Travel
B42CTW6 New World Resources
B3M55Q4 Perform Group

Exclusions
SEDOL Company Name
0875413 Tate & Lyle
0791887 Schroder Asia Pacific Fund
B0FYMT9 Helical Bar

With immediate effect, the following reserve list will be used in the event that one or more constituents are deleted during the period up to the next quarterly review:


Reserve List
SEDOL Company
0182663 Diploma
B3Y2J50 Galliford Try
0744825 KCOM Group
0665045 Oxford Instruments
B02QND9 Paypoint
0152815 Interserve
0392105 HG Capital Trust
B0D5V53 Raven Russia
0529635 Workspace Group
0340609 Dunedin Income Growth Inv Tst
B1RMWL0 XP Power
0787369 Scottish American Investment

FTSE 350 Index

Inclusions
SEDOL Company
B42CTW6 New World Resources
B3M55Q4 Perform Group

Exclusions
SEDOL Company
0791887 Schroder Asia Pacific Fund
B0FYMT9 Helical Bar

FTSE 350 High and Low Yield Index

* FTSE 350 High Yield Index and FTSE 350 Low Yield Index reviews to follow separately

FTSE SmallCap Index

Inclusions
SEDOL Company
0791887 Schroder Asia Pacific Fund
B3KX4Q3 NB Global Floating Rate Income Fund (GBP)
B0FYMT9 Helical Bar
B17XWW4 *JPMorgan European Invest Tst (Inc Shs)
0256881 Lonrho
0157081 Xaar
0111009 Boot (Henry)
3386257 EP Global Opportunities Trust
0066701 Avon Rubber
B1Y9V06 Norcros
0292238 Torotrak
B3SXM83 Blackrock Frontiers Investment Trust
B15PV03 Middlefield Canadian Income Trusts
0173861 Capital Gearing Trust
0339072 RCM Technology Trust
B1Y1NS4 Henderson Diversified Income
0444028 Creston
0664097 4imprint Group
B1GCL25 Dunedin Smaller Cos Inv Tst
0178587 Carrs Milling Industries
0657354 Harvey Nash Group

*JPMorgan European Invest Tst (Inc Shs) Secondary Line

Exclusions
SEDOL Company
B1H1XF8 Hansard Global
3373260 Assura Group
B28ZPV6 Sportech
B01BNK2 Gleeson (M J) Group
0263104 New Star Investment Trust
3157572 HMV Group
0890193 Thorntons
3018152 Tribal Group
0201502 Clarke (T.)
0203672 Clinton Cards
0476968 Johnston Press
B081NX8 Renovo Group
0419521 Helphire Group
B14RYC3 Southern Cross Healthcare

FTSE All-Share Index

Inclusions
SEDOL Company Name
B42CTW6 New World Resources
B3M55Q4 Perform Group
B3KX4Q3 NB Global Floating Rate Income Fund (GBP)
B17XWW4 *JPMorgan European Invest Tst (Inc Shs)
0256881 Lonrho
0157081 Xaar
0111009 Boot (Henry)
3386257 EP Global Opportunities Trust
0066701 Avon Rubber
B1Y9V06 Norcros
0292238 Torotrak
B3SXM83 Blackrock Frontiers Investment Trust
B15PV03 Middlefield Canadian Income Trusts
0173861 Capital Gearing Trust
0339072 RCM Technology Trust
B1Y1NS4 Henderson Diversified Income
0444028 Creston
0664097 4imprint Group
B1GCL25 Dunedin Smaller Cos Inv Tst
0178587 Carrs Milling Industries
0657354 Harvey Nash Group

*JPMorgan European Invest Tst (Inc Shs) Secondary Line

Exclusions
SEDOL Company
B1H1XF8 Hansard Global
3373260 Assura Group
B28ZPV6 Sportech
B01BNK2 Gleeson (M J) Group
0263104 New Star Investment Trust
3157572 HMV Group
0890193 Thorntons
3018152 Tribal Group
0201502 Clarke (T.)
0203672 Clinton Cards
0476968 Johnston Press
B081NX8 Renovo Group
0419521 Helphire Group
B14RYC3 Southern Cross Healthcare

FTSE Fledgling Index

Inclusions
SEDOL Company Name
B01BNK2 Gleeson (M J) Group
B44ZTP6 Aberdeen Latin American Income Fund
B28ZPS3 Record
0263104 New Star Investment Trust
B65TLW2 Diverse Income Trust (The)
B628S54 Duet Real Estate Finance
B6173J1 GCP Infrastructure Investments
3157572 HMV Group
B3PHCS8 Henderson International Income Trust
0890193 Thorntons
3018152 Tribal Group
0201502 Clarke (T.)
0203672 Clinton Cards
0476968 Johnston Press
0738840 Liontrust Asset Management
B081NX8 Renovo Group
B4MW8K7 *Jupiter Dividend & Growth Trust Com Shs
0419521 Helphire Group
B14RYC3 Southern Cross Healthcare

*Jupiter Dividend & Growth Trust Com Shs Secondary Line

Exclusions
SEDOL Company Name
3386257 EP Global Opportunities Trust
0066701 Avon Rubber
0005588 Acal
B1Y9V06 Norcros
0292238 Torotrak
0454351 Montanaro European Smaller C.Tst
0765503 S & U
0444028 Creston
0513207 Panther Securities
0664097 4imprint Group
B1GCL25 Dunedin Smaller Cos Inv Tst
0178587 Carrs Milling Industries
0657354 Harvey Nash Group
B0HW536 Real Estate Credit Investments
B01YQ79 Worthington Group

Investability Weight Changes

SEDOL Company
0371234 Emblaze
B012T52 IRP Property Investments
B44JTH0 Betfair Group

[simon gordon] 08/6/2011 18:05

According to the FTSE reshuffle spreadsheet posted on CRE this evening, HSD have been excluded from the FSTE Small Cap Index.

[envirovision] 05/6/2011 21:06

ok have sent a message to you via TMF, prob a good chance for me to learn a little more about the TMF as well.

[pote] 05/6/2011 00:08

David
I've read your posts on TMF for a number of years (as a lurker, not as a stalker) and have the utmost respect for you. I've noted your generosity to others on many occasions and I'm not referring to investments.

[davidosh] 04/6/2011 23:37

Cheers pote....Who do you support in the Championship then ?

I will be honest with you by saying I have only ever invested in HSD as a high yielding dividend stock and did sell at one point because I feared the dividend may be cut and I simply did not understand the business fully that lay behind that high yield. I moved out for a while and then returned when it looked secure. I may have mentioned HSD on TMF even earlier than that thread I linked to but cannot remember. I try to highlight a few different long term ideas and strategies.

envirovision....You are very welcome and it is open to all. Just email me via the TMF post above and I will put you on the mailing list and add your name for the guests at this one. The Mello dinners are fairly well flagged on TMF and Stockopedia but for this next one I may get a second high yielding company along to present at the same time to add to the theme as it were.

[hieronymous1] 04/6/2011 23:12

Excellent post on the fool. Thank you. I wish I lived nearer Kent to attend the Mello dinners.

[envirovision] 04/6/2011 23:09

David HSD forms a considerable size of my portfolio and I wouldn't mind listening to the directors presentation at that meeting. Is this open to me and how do I attend ?

[pote] 04/6/2011 22:02

Cheers David, it's probably an age thing!
I remember you mentioning some "cash rich shares" on TMF a few years ago.
I thought HSD was one of them and you sold it at a later date. Of course, I could be totally wrong and it may have been a dream.
I'd like to make it clear though, that I don't dream about you on a regular basis.

Good luck to Blackpool next season (I hope you finish runners up)
;-)

Edit: Looking forward to the Mello bounce.