Jpmorgan Russian Securit... Share Discussion Threads

[pilkersa] 29/3/2022 12:55

Bought a few myself.

[comedy] 29/3/2022 12:49

someone can correct me,

my guesstimate was city had 5million shares to offload by looking at their holding rns and their selling rates.

they haven't updated for a while.

yesterday we did 3mill volume which is almost 8 times the usual volume.

( I also calculated Lazard had approx 5mill but not sure if they are selling still?)

today haven't been able to buy freely all day. having to phone and get limited orders done.

so possible city have either stopped selling? or out?( not likely but possible they stop sub 3%? which would be 1.2mill shares)...todays action implies no overhang?)...

also I was wondering is someone was going to city and buying their stake of them???

plus out of Evraz/pog/poly this is the only one that hasn't truly moved yet.

plus checking Rns they were paying 15p per quarter divi???

(if they continue paying divi...within in 2.5 years you get back your capital???)

[supertag] 29/3/2022 12:13

That's me in @ £1.32
GLA Supertag

[bondholder] 29/3/2022 09:36

Rosneft up 14 percent today on the moex

[tigerbythetail] 29/3/2022 09:34

What is striking here is that the market cap of the trust is only £50m or so (at this instant's share price).
Volume was unusually high yesterday. We've already had one "false" break-out, and the share price is clearly grossly undervalued. This should be 300p even in the middle of the war, let alone after the fighting stops.
So how much more new money does it take to see the back of the forced sellers?

[se81] 29/3/2022 09:21

Looks like we're away (chart getting better)- lets see if the usual suspects offload into the rise....

[mister md] 29/3/2022 09:16

start of the re-rate ?

[loganair] 29/3/2022 08:57

The MOEX Russia Index jumped more than 3% to above 2,500 on Tuesday, recouping some losses from the past two sessions, as Russian markets gradually reopen and return to normal following a month-long suspension.

Earlier this month, the government announced that as much as $10 billion from the National Wellbeing Fund may be spent to buy local shares, but Russia has so far refrained from using its sovereign wealth fund.

Energy, financial and technology stocks led the advance, including Gazprom (3.4%), Lukoil (2.3%), Sberbank (5.6%), TCS Group (11.4%), Yandex (9.7%) and VK Company (40%). Fertilizer companies outperformed as well, with sharp gains from PhosAgro (12%) and Acron (30%).

[loganair] 28/3/2022 20:20

The Russian currency has risen dramatically over the past three weeks, reflecting the efficiency of the monetary policy adopted by the central bank in response to sanctions. Another major boost was last week’s government decision to demand that “unfriendly221; states pay for natural gas only in rubles rather than in dollars or euros from now on.

Since Wednesday’s announcement by President Vladimir Putin of Russia’s new energy export policies, the ruble has gained over 10%, from 100 to 90 per US dollar.

Overall, the Russian currency has gained over 50% since plunging to a record low of 151 on March 7.

[bondholder] 28/3/2022 12:58

Yep. I understand the prudent accounting treatment by the manager of marking illiquid stocks down zero/almost zero but seriously to actually liquidate your holdings at that level is nuts.

[se81] 28/3/2022 12:51

Well bid today- institutions moving in? Can understand Lazard, city of London, allspring having to sell down but the execution is so poor for their stakeholders

[bondholder] 28/3/2022 12:44

Share price holding against decent volume

[mister md] 28/3/2022 11:02

from poster 'oilmanmike' on l-s-e. Not sure if he posts on here too.

'oilmanmike

Price: 103.50
Today 10:07
As the fund who hold JRS as their Russian exposure suffer redemptions they sell down their holding in the same proportion to maintain weightings. The play here is that the share price of JRS has been hammered to a fraction of the true worth. Clearly the Russian equity market needs to tread water, however JRS had assets of £385m on 31/01/22 and so a 50% drop in sterling terms is still £192 or 477p a share. Apply an extra 30% discount and you still got 334p.
My initial target price once the recovery comes is 200p. If Putin withdraws and sanctions are removed then 350p to 400p.'

[dodger777] 28/3/2022 10:39

What is that utter tripe buywell has posted above 😆

[rob_tme] 28/3/2022 10:05

Mister MD - JRS next?

I'm not convinced the published NAV figure is going to change significantly until the shares are sell-able by foreigners. Whatever price shares may be trading currently, its a false figure until the market is fully open. Funds will be queueing up to exit and JPM know this. Very prudent approach being taken writing these values off completely for now allowing this extremely low share price / entry point opportunity. True NAV still feels north of 400p so fantastic value at 103p today.

[mister md] 28/3/2022 09:48

I see POLY and POG are both up over 40% today ...

[bondholder] 28/3/2022 09:13

But of course we're still in the Potemkin market where foreigners can't sell!!

[comedy] 28/3/2022 09:12

thanks bond, I spent most of weekend trying to work out city overhang...plus this one with dividends in future seems a nice one to buy and hold.

[bondholder] 28/3/2022 09:09

Moex currently just under 2500. 45 percent off peak. So if you extrapolate that this fund you get to the 400/500 p per share area.

[comedy] 28/3/2022 09:06

any guesses for todays nav?