It's strange how a company that delivers well over the net dividend of the company's inIts portfolio also consistently sees a reducing capital performance. |
17 years and no increase in capital value quite an achievement ... |
fenners
This is off the top of my head but I think that until the other year it was getting close to the dividend not being covered and the share price declined from above 300p. They then restructured the team and the portfolio and it has strengthened despite all the headwinds so there is probably a bit of relief in the chairman's statement |
HFEL is the best sector performer over 1 year, reflecting the change I’d strategy and Management change. See the performance figures in this link:- |
Tempted to look because of the high yield - so have just read the accounts - well the figures in the accounts have not read all the blurb yet.
One thing struck me though in the Chairman's Statement
"It is also particularly pleasing to confirm that our dividend has been fully covered by portfolio revenues "
Which of course I interpreted on skimming it that divi was covered by EPS.
But its not.
17 years of increasing dividends is a great track record - but are they always liable to such hyperbolic comments ?
If there were no overheads then investment income covering dividends is great - but there are overheads so to me the fully covered is meaningless in that context... |
The better performing AAIF is 12% below NAV where this is above NAV?! Bonkers. |
AAIF is a much better buy in my view with better performance on well below NAV, inexplicably. |
Portfolio turnover very high. Portfolio value £377m. Investment sales £446m, purchases £440m so sales more than total portfolio. I know this has been a year of portfolio reconstruction and that they have traditionally have had high portfolio turnover but this doesn't paint a picture of stability. |
Apparently China has been rushing through exports to beat any possible embargo imposed by Trump so that could be a possible one off and a tad misleading. |
I see China exports hit a 27 month high. |
Only a small holding here for myself. Skimming the results I think they're pretty decent and pretty positive. Anyone see much downside in the midterm? |
Reads well imo :) and agree it's good to see Dividend revenues increase.
Are China announcing more stimulus tomorrow?
Interesting to see how the US v China story unfolds now Trump is back in power Re: Tariffs. |
Well, it's great to see income rise strongly enough to cover the dividend again but over half of it is from China now, after selling down some countries, so its now a China and Far East Income fund. That's increased the political risk. It's strange how share values have not responded much to a healthy rise in dividends. |
Last few months' growth easing trend abated?
The Caixin China General Services PMI increased to 52.0 in October 2024, up from September's one-year low of 50.3 and surpassing market forecasts of 50.5, after Beijing launched a series of support measures in late September. This marked the highest reading since July, as new business inflows grew for the first time in four months, with a solid rise in export orders. Meanwhile, employment increased for the second consecutive month, though only marginally, while backlogs of work rose slightly for the third straight month. |
Thoughts on US election having an impact? re: China.
Prefer Harris to Trump personally due to his volatility. |
HFEL mentioned ... |
Probably got to the party too late |
India is one of the worst performing Asian stockmarkets in the last month at around -6%. I hope they picked the right stocks. |
A long term holder .... I sold last week, I'd made a slight profit from 2017 as the dividend more than covered the capital loss but trading on a premium and very vulnerable to a divi cut I thought it was time to move on. |
The Central Bank of the Philippines trimmed its benchmark interest rate by 25 basis points to 6% during its October 2024 policy meeting, marking the second consecutive rate cut and aligning with market expectations.... Recent data showed that the country's annual inflation rate slowed sharply to 1.9% in September 2024, from 3.3% in the previous month and falling short of market expectations of 2.5%.
The Bank of Thailand unexpectedly lowered its key interest rate by 25 basis points to 2.25% during its October meeting, marking the first rate cut since early 2020 and a move long advocated by the government. The decision was made amid a sluggish economy and inflation remaining below the lower end of its target range between 1% to 3%. |
Dividend declaration
The directors have declared the fourth interim dividend of 6.20p per ordinary share in respect of the year ending 31 August 2024. The dividend will be paid on 29 November 2024 to shareholders on the register at 25 October 2024 (the record date). The shares will be quoted ex-dividend on 24 October 2024. |
AAIF much cheaper on good NAV discount and better performer. |
Vietnam going strong(er). |
Hang Seng is up just over 30% in 3 weeks after a 6% rise overnight. The last factsheet said 11.9% of assets were invested in Hong Kong at August 31st.
I note South Korean CPI came in at 1.6% versus 2.0% last time and 1.9% forecast. Presumably this creates some leeway for stimulus. A number of Asian countries have seen CPI come in under expectations and below central bank targets in the last month. |
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