Henderson Smaller Compan... Share Discussion Threads

[8w] 30/6/2016 15:29

Bought in here today, normally chasing income but these are a good diversifier, giving exposure to companies not normally on my radar and at a discount. Hopefully a long term hold

[shavian] 27/6/2016 16:36

Picked up another £1000 this afternoon.

[shavian] 26/6/2016 07:19

Yes but only £500-worth. Will see how it pans out in the days to come and continue buying selectively.

[bamboo2] 24/6/2016 08:15

Shavian, did you buy?
ps re 88 good trading

[shavian] 24/6/2016 04:35

Ouch. Buying time for HSL

[shavian] 17/6/2016 07:15

I'll try to sit on my hands until next week. It could get very nervy. Just listened to Paul Marriage of Schroders saying that the UK Smaller Companies space is looking appetising on a p/e of 12. And here we are sitting on a nice discount to that.

[mad foetus] 15/6/2016 18:23

Good call. I bought some yesterday at 566 on a gamblers hunch!

[shavian] 15/6/2016 15:44

Sold down 75% of holding last week on grouds that HS L would get hammered in the event of a Brexit. In which case the discount could be appetising.

[mozy123] 31/5/2016 15:24

Great that they have paid down expensive debt. Why on earth have they not re-financed this earlier?

[mad foetus] 31/5/2016 13:28

A minor thing, but repaying that debenture is very good news - it had been costing a fortune and had been a significant drag on performance: £20m at 10.5% is £2.1m a year. It shows how good the manager here is that he's beaten the sector in 9 out of 10 years despite swimming in lead boots.

[shavian] 28/5/2016 08:30

Nice timing MF. Agreed the discount is much too wide. The outcome of the Referendum will dictate a binary reaction in the UK market - especially mid- and small-cap stocks. Brexit vote will cause great instability (and maybe better buying opportunity) whereas a Remain vote will trigger a strong relief rally. Phased buying on further nervous dips over the next month is my tactic to hedge the bets, keeping some powder dry in case of a post-referendum collapse. Watch the share price vary with the polls in the run-up to 23 June!

[mad foetus] 24/5/2016 12:44

I bought a load today at 607. The discount is too wide atm and the NAV has started moving up too.

[henryatkin] 11/4/2016 10:45

Bamboo...don't overlook the gaps. One just above your target and another between 685 & 690. I appreciate yours is a shorter term target but I'm banking on both gaps getting filled medium to long term.

[bamboo2] 10/4/2016 09:04

Previous H&S failed to hit target. Now looks like InvH&S potential for 645-650...

[mad foetus] 11/3/2016 09:23

The discount is currently much wider than usual. At a guess, I'd say over the last year the discount has been between 5-15%, so it is really just chance that it was the same as the gearing last month.

[henryatkin] 10/3/2016 09:54

I noticed by chance from the last monthly fact sheet that the discount to NAV is almost the same as the net gearing - both around 9%. Is that a coincidence or a regular feature?

[mad foetus] 08/3/2016 10:22

"As at close of business on 4 March 2016, the unaudited net asset value per share calculated in accordance with the AIC formula (including current financial year revenue items) was 701.1p and the net asset value per share with debt marked at fair value was 700.4p"

Hell of a discount here. I wonder whether they are considering share buy backs?

[votiem] 11/2/2016 09:32

Whops!!! Why HSL so out of favour???????

[bamboo2] 30/12/2015 09:24

Yep very good call mf. Happy New Year.
ps I'm sure that's a tyop Shav.

[shavian] 30/12/2015 07:17

Looking like a good call MF! One day to go and just 50p short...

[mad foetus] 30/11/2015 12:01

Right, time to buy this now - discount has widened again and I think HSL will be over £7 by year end.

[mad foetus] 23/9/2015 10:46

stifle have put out a note today saying HSL is a good fund but now might be a time to take profits. Personally, I am more of a buy on the dips and hold merchant but that may explain the dip on a green day.