Jupiter Emerging & Front... Share Discussion Threads

[spectoacc] 23/6/2021 15:23

Hoping Citywire or someone will give an opinion on JEFI's sub-scale future. Annual redemption seems the wrong course for a fixed capital co - the redemption buyers will never get it above NAV (why would they?) so there'll always be a discount and a reason to take the redemption. Ergo, mkt cap shrinks every year.

Be interesting to see what price they give this time - even tho I missed it.

(SGEM - looks cheap to me, & may not survive a wind-up vote).

[essentialinvestor] 23/6/2021 12:31

city, good fortune.

[citytilidie] 23/6/2021 12:30

They can, but from experience it is very doubtful they will. It wouldn’t make them look good or particularly trustworthy. I will carry on buying them before the redemption date and then buy them back at some point with the aim to doing it again.
At the current rate, the fund should continue for another 2 or 3 years before it is either wound up or merges with another investment trust.

[essentialinvestor] 22/6/2021 14:38

city, thanks for the view - the annual redemption is not guaranteed though,
the BOD can pass on my understanding re 2022 or any other year.

[citytilidie] 22/6/2021 14:27

I think they will continue to trade until the Trust is too small to continue viably.
I am hopeful the redemption payment next month will be in the region of £1.14 and then will buy back. In fact I just this second bought10000 back before the payment and will redeem them in June 2022 again.

[essentialinvestor] 22/6/2021 13:56

Anyone care to give a guesstimate whether this Trust is now sustainable and

what type of % discount it might push out to given the huge % of redemptions?.

I can't call the above which is the reason for the questions, thanks.


SGEM trades on around a 17% discount to NAV, however the JEFI record is arguably
better and SGEM pays no sizeable dividend.

[citytilidie] 15/6/2021 12:42

It’s the Market Makers that control the price of the share, not the Company. The Market Makers have just been absorbing everyone’s shares that sold them at a low price for the last 6 months, knowing they will be able to redeem them 10p+ higher. Who else hasn’t redeemed these every year and then bought them back at some point 10p cheaper to do the same again the following June.

[spectoacc] 11/6/2021 13:45

They've made a rod for their own backs. Unless trades at a premium, they're always likely to get people wanting to take the redemption. Fine, but if no premium, the Trust only ever gets smaller, because it'll never get to issue new shares.

About to go from c.£91m cap, to c.£61m. Want charges spread over a larger shareholder base, not smaller.

Only have a small holding but missed the broker deadline for the redemption by 24hrs, doh.

[essentialinvestor] 11/6/2021 13:41

Spec, I am not sure why the BOD agreed to it?, they could have cited exceptional
circumstances with the pandemic etc and skipped the redemption this year.
Guessing they expected a far lower number to redeem.

[spectoacc] 11/6/2021 13:37

Price not going to be so straightforward this time.

[essentialinvestor] 11/6/2021 13:30

dave, have you seen the redemption %, game over?.

[davebowler] 01/6/2021 10:58

End May NAV including current year income and expenses 112.65p

[essentialinvestor] 24/5/2021 09:15

This may be worth a look post redemption if the % discount widens again.

[truthteller3] 21/5/2021 16:18

Whichever way you look at it, spectoacc is no good at all in the stock-picking universe. He gets nearly all of his predictions wrong even though he presents them with such unwarranted certainty. Shorting TESLA at 1000 and repeating his choice three times EVERY day is not exactly brain-surgery.

If he's ever held up to account on his prophecies he makes long winded and unpleasant replies which illuminate nothing except his own stupidity. Yet he persists in sooth-saying on literally hundreds of shares about which he cannot know anything.

And he is a spiteful vituperative troll on many of them.

[essentialinvestor] 21/5/2021 13:06

I added 10k this week and immediately opted for the redemption option.


Think your view on JEFI is a little harsh as it cannot be compared to a single country investment trust.

Now on something like SGEM, the criticism may be more deserved.

[harijan] 21/5/2021 10:20

Another piece of pish recommended and ramped by spectoacc, the world's worst investor. I finally sold this morning. It's lucky I bought lots of VEIL and VOF way back at the same time, both frontier market. They've made me quite rich. Superb performance.

I'm buying SUPP with some of the JEFI proceeds. SUPP which was mercilessly trolled by Specto...but soo unsuccessfully.

[essentialinvestor] 04/3/2021 14:42

Added a few under 99 pence.

[essentialinvestor] 02/3/2021 14:14

Are we nearing the end of the road here, I can't see how this is

sustainable with the annual redemptions


Sub scale to begin with.

[aurelius5] 25/2/2021 13:52

Yes, if this plays out at 4p over the year then it'll be the fourth successive year of falling dividends here. The annual report was vague regarding the income outlook here.

[essentialinvestor] 23/2/2021 23:54

That's a pretty sizeable % reduction in the dividend, all be it q1.

[davebowler] 15/2/2021 11:16

12 Feb Net asset value per Ordinary share excluding current year income and expenses 107.95p
including current year income and expenses 108.71p

[davebowler] 22/1/2021 13:59

including current year income and expenses GBP94.788 million
Net asset value per Ordinary share excluding current year income and expenses 110.17p
including current year income and expenses 110.91p