Thanks again Aleman! More great content - which has sadly yet to come through to either NAV p.s. or SP? My recent reading is that buying interest here has materially waned, not helped by the global down/moves on 2/5 august! Maybe it’ll return after the notoriously difficult sep/oct period? compounded (this year) by the early nov24 USA elections. Or, maybe buyer boredom will persist? ‘Till the longer term prospects here finally start to materialise within NAV ps? |
The Asian boom in a few nations seems to be spreading. The Vietnamese government has raised its growth target for 2024 to 7% (after Q2 6.9%, H1 6.1%, 2023 5.1%), prompting a few positive articles like this: |
Nice find Aleman, thanks, shame it's not coming (yet?) through to NAV here. |
Chinese industrial profits have been falling for the last couple of years. They were negative YTD until March. They have since turned positive and were +3.6% YTD for July. This seems to be a clear change of trend. |
Thanks Aleman! good find re Singapore. Sounds positive! |
easy to buy today! not so easy to sell? share price is nudging down, as the NAV ps also back-pedals. may prove temporary? do hope so, as I'm fairly full here. may look to add if this downwards retrace picks up after the long weekend. |
Singapore sentiment seems to be improving. (Recent GDP has been close to 3% so any improvement would be a good performance.) |
Share buy backs are a positive for a corporate who has genuine surplus capital and seeks to return it to investors. For an investment trust buying your own shares might support the price and manage the discount, but lets be honest its a sign of weakness. Lack of demand for the shares, lack of confidence in the manager. So tapping the market when there is a premium is a real show of confidence for an investment trust. There is more demand for the shares than available in the market, there is confidence in the manager and the process is positive for existing holders. So lets celebrate this ongoing market tap, long may it continue |
Have noted that HFEL is still tapping the market! Good, in a way! - but a tad worrying? in the sense that they may feel that this has a bit further to fall? To pull in 400k at 227.2 (worth circa £909k gross, last week) may look like 'very good business' by the end of this coming week? |
Further signs of healthier growth in Asia as Philippines GDP rises from 5.8% to 6.3% in Q2. |
Chinese services PMI rose to 52.1 as manufacturing fell to 49.8. Composite 51.2. THey tell us China is doing badly. Is it? |
UK investment trusts look in demand at present, both MRCH and CTY at all time highs. |
Well at nearly a 12% yield and the price a long way off year highs, rebalanced holdings in an economic climate that although a long way from perfect is more likely to be on the up rather than the down and with interest rates on the verge of falling that 12% yield looks very appetising to me. In fact I must have missed whatever was the justification for todays fall. |
of course i may be wrong but i think the divi fall has already happened
it really doesn't matter long term
happy to add and hold |
hard to resist at this sp |
Investors not exactly falling over themselves for the divi on Thursday when the share price will drop by 6.5p |
I doubt Xi will invade Taiwan - a very risky military adventure over a 100 mile sea channel and the collateral damage, physically, economically and diplomatically, would not be to their advantage either. They might take the offshore islands of Kinmen and Matsu, which are not crucial or defensible. If they do take any action against mainland Taiwan it is more likely that they would set up a blocade, which would still cause economic disruption but not on the scale of any military action. |
China won't invade Taiwan it would cause economic suicide for China. Where would China be with sanctions opposed on it. That's not China's way anymore. Just my opinion. |
If Xi invades Taiwan it wont matter where your money is - apart maybe from physical gold |
I bought these months before Russia invaded Ukraine. I will get out soon, but any funds that invest in China, and therefore Taiwan as well is an accident waiting to happen. Any sign of a sniff of something going on over there, and I’m out. |
China seems to have a schizophrenic economy. The high end tech exports are apparently better than for the last two decades whilst the internal economy - housing and such like are in dire straits. I thought HFELs money was in the former |
I recently took a ~15% profit on some of the ones I bought earlier in the year just to rebalance a top heavy position and provide a bit of liquidity to my account.
As for future expectations, I hope/expect the share price will continue tracking NAV (the upper figure which you seem to distrust) within a +/- 5% band, as it has done for many years.
I also hope/expect them to issue new shares at a premium to NAV whenever they have the opportunity.
If the NAV falls to a significant discount, I hope/expect they will repurchase shares to be held in treasury to rinse and repeat. |
no sale from me, and you? |
SSL - what price did you sell at? |
In light of ALL the above positives (thanks Guys!) - I'm actually shocked to see the NAV ps (the lower measure as always adopted by me) is now sitting at 220.8p (12/7/24) - so, marginally down on 221.6p as at 9/2/24. So 5 months of sideways movement, during which the previous (buying opportunity!) discount to SP/MMV has moved up to a significant premium (as graphed above! thanks again! skinny!). Sure the recent dividend announcement IS hugely supportive! and confidence supportive - but what if? there's been over-reach here? HFEL choosing to rinse out its own treasury shares (last week) at 243p and also to issue new shares (at the same price) came over as prime selling signals. So, I looked at today's trades, so far?.......well worth a check! |
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