Herald Investment Share Discussion Threads

[spangle93] 05/6/2020 16:27

Looks like a close around 1570p!

[davebowler] 29/5/2020 13:22

Net Asset Value as at 27 May 2020


Net Asset Value 1708.71p

[amt] 27/5/2020 21:04

Quepass note the nav is the day before. Discount still about 13 to 14%.
I agree this has much further to rise and maybe its reward would be to virtually eliminate the discount at some point

[spangle93] 26/5/2020 21:31

Future FTR is on a good run at the moment

[weatherman] 26/5/2020 17:21

Rising strongly, but NAV now 1700p - 12.4% discount.

[masurenguy] 24/5/2020 15:03

High Spangle. Not doing too badly at the moment but I'm also 40% in cash since I believe that we will see a further correction once the lockdown exit expands and government subsidies disappear leaving companies to stand alone. There is also the possibility of a second wave.

Currently not invested here yet - just put it on my watchlist and looking to get in on any subsequent market fall/price decline.

[quepassa] 24/5/2020 13:39

To put Friday's 15.5% Discount-to-NAV and share price of 1426p into clear perspective.

Three months ago around 6th. February, HRI achieved an all-time-high share price of 1530p with a NAV of 1722p - just 32p higher than the latest NAV on Friday of 1690p.

However the Discount-to-NAV in early February was 11.2% by comparison with the current (and still bloated) Discount of 15.5%.

If we applied February's 11.2% Discount-to-NAV to this Friday's NAV of 1690p, it would dictate a share price of 1500p compared to Friday's close of 1426p.


In my opinion, the share price is still a bargain at this discount level and not yet fully up with events at a time when many other leading Investment Trust NAV's have already narrowed back down to pre-Covid-crisis levels.


ALL IMO. DYOR.

QP.

[spangle93] 24/5/2020 11:40

Hello Mas, good to see you here, hope you're doing OK

Solid investment here - wish I'd been bolder on the drop but happy to hold

[masurenguy] 24/5/2020 09:30

Discount to NAV was 15.5% on Friday's closing Offer price.

[amt] 11/5/2020 17:58

Sorry I thought you were referring to discount. Yes about 16% now

[weatherman] 11/5/2020 16:50

amt - my maths is not wrong according to my statement. The discount I calculate at 17.5% on those numbers - today the discount is about 16%.

[amt] 04/5/2020 07:07

That's not correct Weatherman. Your maths is wrong and the NAV is a day before the latest big fall in share prices. Probably about 15% discount assuming no further falls today.
I would expect they will start buying back the shares though as 15% is too wide a discount for such a phenomenal performance over the years.

[weatherman] 02/5/2020 21:03

NAV 1576p, price 1300p - NAV about 20% above price.

[amt] 22/4/2020 19:48

Ft all share index up 50 % since Jan 2009.Herald up 660%

[amt] 22/4/2020 10:35

I had forgotten about Polar tech but that is pure tech and mostly US based if I recall correctly. The performance there is absolutely astonishing. Allianz might be a bit better but not much to choose. Those trusts are at premiums which is fully justified given their performance. Perhaps Herald should be at a small discount but not 18%. Incidentally it sometimes has got to a 5% discount in better times. I expect that will happen again when things calm down.

[riskvsreward] 22/4/2020 10:05

But its performance is nowhere near as good as pct or att over any time scale so it is always at a relative discount to them. Agree though it is now looking relatively good value and the manager is a safe pair of hand, perhaps overly conservative if anything holding hundreds of shares. I hold both pct and hri personally.

[amt] 22/4/2020 09:57

The discount has been overdone on and off for along time. Given the phenomenal performance over both long and short term I think a premium would be justified. I don't know of any other ITs with a better performance

[spangle93] 22/4/2020 09:52

It's not that silly.

Average discount over the last 12 months is about -15%, vs -18% now

Second half of last month would have been a bigger one, but I wasn't brave enough

[amt] 22/4/2020 08:12

Yes about 18%.They hold plenty of cash also to buy in at subdued levels or buy own shares.
Judging by the robust performance of nav they must be holding a great portfolio to deal with the present crisis.

[dplewis1] 22/4/2020 07:51

Yes compared to my other tech trust PCT the discount here is silly

[amt] 22/4/2020 07:00

Discount has gotten over bloated again. Buying own shares yesterday to reduce the gap.