Keystone Investment Share Discussion Threads

[poikka] 09/5/2020 07:54

Well we can now see that gold miners now represent some 15% of the portfolio; that's a pretty big bet on inflation, which I'm ok with.

Not impressed with the trust being "underweight" pharmaceuticals: not just underweight, they're just about absent - no GSK and no AZN. It's not hindsight that says that by 31st March both companies should have a place in the portfolio. Both companies are safe bets, albeit a small doubt over GSK divi.

Not impressed that there are no miners (excl. gold) in the portfolio, either. They went through massive cost cutting a few years ago and are big payers, with possibly better prospects than his oilies.

Goldstone has some very strong convictions, and aside from very recent outperformance still has question marks over his strategy.

Any thoughts?

[poikka] 02/5/2020 15:46

Just as well. BRWM has been steadily increasing its gold holdings to some 26% mow, I think, but then they are a mining IT...

[orinocor] 02/5/2020 15:36

Interesting. The March factsheet shows 9% of the portfolio is now invested in 2 gold miners, Barrick and Newmont.

[poikka] 01/5/2020 07:44

What's in a day, I've held these for 18 years :).

[orinocor] 29/4/2020 14:44

the other big holdings are up 1%,2%,3%,4% so expect a NAV of over 300p tomorrow

[orinocor] 29/4/2020 14:40

Barclays, biggest holding in the portfolio at 4.8%, is up 12.5% today.

[orinocor] 28/4/2020 10:10

Some big movers in the larger portfolio holdings today

Barclays +6.8%
JD Sports +8%

We could see NAV approaching 290p

[poikka] 27/4/2020 09:56

Just a moment of irritation, orinocor. I agree, it is much better than PLI.

I still maintain that the PLI board need a clear-out, starting with the Chairman; after all, the evidence of under-performing has been there for all to see for far too long.

[orinocor] 23/4/2020 11:49

This is a lot better than PLI

NAV 277.79p

[poikka] 15/4/2020 13:06

This is not much better than PLI, if at all!

Invesco need to be ditched.

BoD - kick them out before you get kicked out.

[orinocor] 09/4/2020 11:16

NAV per Ordinary share (unaudited) with Debt at Fair Value
EXCLUDING undistributed current year revenue 267.17p
INCLUDING current year revenue 268.71p

The current share price is 229p - 235p

[orinocor] 08/4/2020 14:25

NAV per Ordinary share (unaudited) with Debt at Fair Value
EXCLUDING undistributed current year revenue 263.44p
INCLUDING current year revenue 264.99p


This trust still trades on a big discount with the share price only 221.5p

[orinocor] 23/3/2020 16:19

in again at 167p
strewth

[orinocor] 11/3/2020 14:08

Bought at 277 which is a discount of 10% to net asset value.

[poikka] 23/12/2019 09:25

Worth a punt with share buy-backs on the cards, I'd say.

Do I sniff an attempt by Invesco to keep management?

[poikka] 29/11/2019 13:07

So they're going to split into 5 to make KIT more attractive to retail investors. I could suggest a way to make it more attractive, but I guess that they know that..

It hasn't helped that they hold some 70 - odd investments; how can they possibly keep a track of so many, and still no miners other than gold.

[poikka] 21/11/2019 18:36

56p total dividend, so no change from last year.

[poikka] 13/9/2019 09:08

Still about 15% discount to NAV, unsurprisingly, and still attracting interest from across the pond.

[poikka] 18/5/2019 12:22

Noticed that they still don't have any exposure to the big miners, nor have they since I don't know when.

If you're reading this, KIT, which I very much doubt (lol), can you please explain why, when RIO and BHP have done so much to cut costs, and when they both have been churning out massive pay-outs to shareholders, you don't hold any?

No wonder KIT are trading at a big discount.

[poikka] 10/5/2019 07:44

What I meant was, keep cash for buying opportunities.

I'm ok with 4 divis per year, but what we really need to see is better performance.

As for Goldstone's thoughts on the effect of a no-deal Brexit, from what I've read, there'd be no "cliff-edge", nor any "crashing-out", although he didn't mention the latter, there'd be business as usual while all sides made real efforts to ensure trade continued with as little disruption as possible - ie. a deal.

[poikka] 27/11/2018 08:24

Yet another set of dire results. I suppose that it could be said that it provides a hedge to my own portfolio in that I hold only 6 of KIT's top 30, and they've got 11% gearing, ferryingoutloud!

GET RID IF THE GEARING AND KEEP YOUR POWDER DRY FOR BUYING OPPORTUNITIES!!

I've held these for decades, and I just hope that Goldylocks will do the business. So often the dogs of one year turn out to be the stars of the next.

I keep hoping.

[getscenic] 20/3/2017 19:47

!FOLLOWFEED
New Manager James Goldstone takes charge

[the blacker prince] 13/10/2001 14:07

Some positive news today !!!

[riggs] 12/10/2001 20:35

I second that, well done kit.

[the blacker prince] 12/10/2001 20:05

In honour of tkitten

tkitten has become very good at this game and his/her recommendations have been spot on, latest being Energis.

Keep'm coming kitten !!!