Herald Investment Share Discussion Threads

[amt] 23/8/2018 07:15

Looks like the recent investment in D4T4 is paying off. Well done Herald. VRS and Zoo also shooting up again.

[sbs] 09/8/2018 18:18

Excellent fund manager - and has the pick of the bunch when it comes to new share issues.Success breeds success!

[quepassa] 03/8/2018 15:51

For lovers of the smallcap financial sector....


Sit up and take note that Slater Investments ( of Jim Slater fame) has just UPPED its stake in AFH Finanncial from 9.37% to 10.04%.

ALL IMO. DYOR.
QP

[slicethepie] 18/7/2018 08:28

Agree, excellent return. Comments by JC on mifid 2 are spot on, the effect of this on small cap companies is not understood by the regulators.

[quepassa] 18/7/2018 07:41

Great half year figures from 31Dec 2017.

A stunning uplift in NAV of +9.6% against a tough UK market whereas the benchmark Numis smallcap/Aim index produced a negative return of -1.7%.

This is great/astonishing outperformance.

Although it must be admitted that Herald underperformed against the Russell 2000 smallcap Tech index by a smidgeon which returned +15.6%. - Food for thought perhaps for the fund managers about their country weightings.


The Herald share price has increased a highly satisfactory 14.9% over same period.


Great set of half-year results.

Total net assets now confirmed as having surpassed the £1billion mark at £1.046bn.


Onwards and upwards for Herald.

ALL IMO. DYOR.
QP


ALL IMO. DYOR.
QP

[rambutan2] 11/6/2018 13:16

QP, as always, ADVFN figs unreliable. Due to the value accretive buybacks when the shares have been at near 20% discount, the shares in issue is down to 69,485,583. So we need approx £50m to reach the magic billion ie 1450p. Yes, it will be quite an achievment.

[quepassa] 11/6/2018 10:46

Potentially stimulate institutional demand for Herald with certain investors having minimum mkt. cap criteria.

[quepassa] 11/6/2018 10:43

RED LETTER DAY.


ADVFN analytics now showing Herald as having surpassed the £1 billion market capitalisation milestone mark.


Wow!!

Well done Katie and team.


ALL IMO> DYOR.
QP

[weatherman] 06/6/2018 08:24

More than 200p below nav

[amt] 06/6/2018 07:22

Good you got Zoo. I have also. I like your comments about Herald also.

[quepassa] 05/6/2018 08:47

Wow. Zoo has done fantastically as well. Congratulations.


Not a tech/media company and not in HIT's portfolio but one of my top picks in the small cap sector for long-term multi-bagging potential is little know AFH Financial (ticker AFHP) - which just produced yesterday the most stunning H1 figures. A real GROWTH stock with a large holding by the Slater clan.


ALL IMO. DYOR.
QP

[amt] 29/5/2018 07:59

Yes like Zoo and Versarien. I have direct holdings in both those as well as HRI exciting times (especially for VRS this morning) .

[quepassa] 22/5/2018 09:50

A VERY IMPORTANT milestone appears to be on the immediate horizon for Herald.

Any day now in my reckoning, currently at c. £985 million, they will break the psychologically important £1billion market cap threshold.

Could well bring significant institutional buying and a well overdue narrowing of discount.

My guess is that tucked away in their small-cap portfolio, they may well have some hidden gems which become the tech titans of tomorrow.

By the way,Herald are up more than a jaw-dropping 40% over 12 months and going strong.


ALL IMO. DYOR.
QP

[quepassa] 11/5/2018 12:00

There is no good reason in my view why Herald trades at anything like a 10% discount.

A not dissimilar small cap Trust- Chelverton Small Companies Dividend Trust- trades at zero discount but its recent performance can't match Herald in terms of Total Return.

And let's not talk about the sorry tale that Woodford is.

ALL IMO. DYOR.
QP

[shavian] 11/5/2018 11:32

Nice 7% rise in NAV over past 30 days, with the discount narrowing from about 15% to 9% today. Still a bargain imho

[quepassa] 28/4/2018 08:14

Very happy with the performance of this trust and it is very well and professionally run.

Deserves a big narrowing of discount in my view.

QP

[amt] 28/4/2018 07:15

QP I agree. This trust has a fantastic record over short and longterm. It should be at a premium not a discount.
Up 6 fold since 2008.

[quepassa] 24/4/2018 07:46

They certainly know how to pick 'em!

Herald have a c£8.5million position in CityFibre which has received a recommended Cash BID this morning at a 93% PREMIUM to yesterday's close.

A nice little early morning £8m PayDay for Herald - but seriously it shows that they have some great prospects within their small-cap portfolio....

....and one of the reasons why I remain gung-ho on this IT and reiterate my personal view that it is undervalued, under-appreciated and under the radar.

....and the big discount-to-NAV represents a real bargain.


ALL IMO. DYOR.
QP

[quepassa] 23/4/2018 12:55

NAV is now a tad under 1400p compared to an share price of 1230p.


A whopping discount to NAV of 12%.

In my view, wholly undeserved and meriting a re-rating by the market on grounds of excellent multi-year performance by this excellently run Investment Trust.

In my view, this discount represents a great bargain.




ALL IMO. DYOR.
QP

[quepassa] 22/4/2018 09:51

New ALL TIME HIGH this week.

Great recovery since the small cap sell-off early in the year.


ALL IMO. DYOR.
QP

[amt] 20/4/2018 08:42

Discount should also reflect the performance which in Heralds case has been absolutely brilliant over both short and long term so should justify a premium.

[weatherman] 09/4/2018 18:14

The difference seems high compared to historical records. If the net assets have risen strongly, then the balance of buyers and sellers may not yet be in balance. Which looks like a good buying opportunity - all imo.

[rambutan2] 05/4/2018 14:28

Always worth remembering to take into account, and the reason why HRI will usually carry a double digit discount. From pg64 of the annual report:

Equity Securities
The Company’s unlisted investments are not readily realisable, but these only amount to 1.3% of the Company’s total assets at 31 December 2017 (2016 – 1.4%).

In practice, liquidity in investee companies is imperfect, particularly those with a market value of less than £100 million. To reduce this liquidity risk it is the policy to diversify the holdings and generally to restrict the holding in any one company to less than 10% of the share capital of that company. Furthermore the guideline is for no single investment to account for more than 5% of the assets of the Company.

The market valuation of each underlying security gives an indication of value, but the price at which an investment can be made or realised can diverge materially from the bid or offer price depending on market conditions generally and particularly to each investment. 20.1% (£178 million) (2016 – 22.8% (£158 million)) of the portfolio is invested in listed stocks with a market capitalisation below £100 million, where liquidity is expected to be more limited. If these stocks had on average a realisable value 20% below the bid price the value of the total fund would be adversely affected by 3.7% (2016 – 4.0%).

[shavian] 12/3/2018 11:00

NAV up to 1407p on Friday, giving us a 17% discount. What a bargain. Buying some more for the kids' ISAs this week.

[quepassa] 06/3/2018 09:31

After several months of poor investment sentiment towards the UK small and micro-cap sectors, it seems to me that sentiment is firming again.

ALL IMO. DYOR.
QP