Henderson Diversified In... Share Discussion Threads

[cc2014] 09/4/2021 11:24

It's become clear to me that someone must have sold a huge quantity of these which the market makers have on their books and are slowly shifting. My rationale for this is that the vast majority of trades are buys over the last 10 days (even those reported as sells) and that slowly as the market maker is reducing their exposure the actual price paid is rising. I'll wait patiently. I have alot of these and whilst I really like them and I'll be holding most of them long term, I'd really like to sell about 25% of my holding at 90p

[essentialinvestor] 06/4/2021 14:41

Picked up another 10k at 82.8. If I have this right HDIV looks cheap nearly 9% below NAV may provide and at least a partial hedge against future equity weakness. Any Equity weakness looks a far away and distant land atm!.

[essentialinvestor] 06/4/2021 14:39

As at close of business on 1 April 2021, the unaudited net asset value per share, calculated in accordance with the AIC formula (including current financial year revenue items), was 91.2p. As at close of business on 1 April 2021, the unaudited net asset value per share (excluding current financial year revenue items) was 90.2p.

[cc2014] 26/3/2021 16:12

I'm getting the feeling someone is doing some portfolio realignment for quarter/year end.

[essentialinvestor] 25/3/2021 12:51

CC, if you taper just some the extraordinary stimulus, how strong is end demand?. Appreciate CB's will remain highly supportive etc, My gut call is end demand expectations may be on the high side. Think what we have atm is a sugar rush high, at least to some extent.

[cc2014] 25/3/2021 12:35

I'll give you a different take EI. Looking at how fast the FTSE has sold off today is telling me investors will be piling into debt soon enough as a safe place to put their money. There does seem to be a seller on HDIV but I can't grumble about that since I've bought some of his shares. As for where interest rates are going I think inflation is going to pick up far faster than most expect. However, the central banks will be ever so reluctant to raise rates even in the face of it. Even it's a sticky stagflation they will just keep arguing it's temporary and not raise rates. Sure they may raise them from 0.1% to 0.25% just to put us on notice of what's coming but that will be about it. Very happy to hold this one in the current circumstances.

[essentialinvestor] 25/3/2021 11:21

My understanding is HDIV operate in the short duration end of fixed income. Take their NAV 5 or 6 months ago, before the recent bond market yield adjustments, HDIV NAV is only very approx 2/3% lower. So it's a marginal change and one that has been more than compensated for by an ability to now buy HDIV at a significant discount to net asset value. My personal view as mentioned recently on the SHA board, is forward inflation expectations are being overestimated, consensus is incorrect imv and interestingly this week has seen the first signs of bond markets perhaps waking up to this.

[essentialinvestor] 24/3/2021 11:58

Given HDIV's stellar longer term record, current NAV discount looks interesting.

[cc2014] 24/3/2021 10:22

After the John Baron news to sell NCYF and HDIV, NCYF has now nearly recovered the drop completely. HDIV hasn't. I've just added a few although these I will be happy to flip around 88-90p. The rest I'll keep.

[essentialinvestor] 10/3/2021 11:15

Added near the open.

[essentialinvestor] 10/3/2021 10:29

Looking for a move back to at least 86/87 pence. Stellar record and experienced Mangers.

[essentialinvestor] 10/3/2021 08:25

Had some, looks like an opportunity?.

[cc2014] 09/3/2021 15:43

John Baron runs a subscription service website. He also writes for Investors Chronicle. He's been holding and tipping NCYF for a very long time. Maybe 20 years, I'm not really sure as I don't subscribe to either. Most of these types of tipsters are pretty rubblish but John is one of the better ones and clearly he has a large following. The problem though is one of liquidity. He will have sold HDIV at 87p, 90p, maybe even higher depending on the timing but as we can see you cannot get the same prices if you follow him. This happens over and over with IC. Their published performance is far away from what can be achieved by copying their trades. It will all wash over in a few days. His followers will sell and the instituions will soak them up as they are doing today.

[vacendak] 09/3/2021 15:33

People are upset about him (Baron) too on the NCYF thread. He tipped... then people sold.

[bsdjj] 09/3/2021 15:19

So the NAV dropped by 0.2p since yesterday. What is all the fuss about??? Is John Baron Warren Buffett???

[vacendak] 09/3/2021 13:17

NCYF and, I assume, other ITs similar to HDIV have been clobbered too. As people have said already, there has been a little earthquake in the bond market two weeks ago and the Fed has not really accommodated the "bond vigilantes" yet, so things remain tense. In fact it is surprising that the correction is only happening now with high income investment trusts. Growth and techs have also been savaged for the same reason: Money might be more expensive tomorrow, so value (or "money today") is back in style too.

[cousin jack] 09/3/2021 10:19

Does anyone know what John Baron gave as his reason for selling ? I’m presuming it was the indication that bond yields will rise, but if something specific to HDIV it would be interesting.

[cc2014] 09/3/2021 09:21

I am very thankful to Mr Baron for allowing me to load up below 80p. Of course the ones I bought at 84p yesterday don't look so clever now but I think we'll be back there by the end of the week

[jimbox1] 09/3/2021 08:51

I understand the 1.1p decline from going ex-div, but not the other 10p. I shall have to top up.

[bsdjj] 09/3/2021 08:30

I hear someone called John Baron who is also an MP has passed judgement....

[jonwig] 09/3/2021 08:25

Fears of higher bond yields, inflation. NAV has hardly moved but share price has gone from around par to a 13% discount.

[bsdjj] 09/3/2021 08:09

What's going on here???

[peterbill] 22/1/2021 11:38

Top Holdings (30/11/2020)Rank Largest Holdings %1 NATIONWIDE BUILDING SOCIETY 2.302 PHOENIX GROUP 6.625% 2025 2.203 CO-OPERATIVE GROUP 2011 7.50% 2026 2.004 IQVIA 5.00% 2026 2.005 CSC HLDGS LLC 5.75% BDS 15/01/30 1.706 ALTICE FRANCE SA 5.5% BDS 15/01/28 1.507 CROWN CASTLE INT CORP 3.65% BDS 01/09/27 1.508 VIRGIN MEDIA SECURED FINANCE PLC 4.125% 1.509 ARAMARK SERVICES 4.75% 2026 1.4010 SERVICE CORP INTL 4.625% BDS 15/12/27 1.40