Lxb Retail Properties Share Discussion Threads

[mrx001] 10/4/2017 20:38

Not sure I agree with your sentiments of making 20% over 6 months, unless I was the fund manager. Sorry but I have come to the opinion that this fund is not being run for the benefit of the investors but that of the boards and fund manager. Therefore I don't have a lot of confidence in them. If you are looking for a better investment I would consider BOO or HUR, they are doing very well for me. Not a recommendation and would need some research.

[badtime] 10/4/2017 14:08

20% over 6 months..oh I must have missed that bit

[tricky1000] 10/4/2017 09:27

IMHO This is a great place to park some cash. Stocks at record highs the world over where else are you going to be able to make 20% plus over the next 6 months?I am open to suggestions though!

[shaker44] 05/4/2017 11:36

Management fees paid by LXB to the fund manager from the 1st of April 2011 to 31 March 2017 (includes an estimate for y/e 31.03.2017)is £29,153,075. The take home pay for the same period for the fund manager (after all office overheads) is £21,763,769. So the fund manager made £21,763,769 during the mentioned period.

Which would you sooner be- a shareholder in LXB or employee of the fund manager?
Nice work if shareholders are too lazy to lobby for change.... PI's are getting shafted

[shaker44] 05/4/2017 09:44

Unless investment manager help themselves again..

[daneswooddynamo] 05/4/2017 09:18

adding here, money to be made on 12 month view imo

[shaker44] 05/4/2017 09:15

I fully support npt in this. I have written, and encourage others too, as well. A volume of complaints will make far more impact than one or two. Just a few minutes out of your day to support your investment!
It is a long time since Simon Thompson at investors chronicle covered lxb. Maybe he will rattle the cage soon..

[mad foetus] 04/4/2017 21:12

Write to the JFSC telling them of your concerns. If enough of us do and say that there is a real test here of the island's regime and commitment to protect investors they may lean on the directors, but other than George Baird, who I mentioned earlier, the directors are not Jersey resident.

[mad foetus] 04/4/2017 19:38

Well, I sold most of mine for 40.15 straight after the news. May buy back as I am sure there is value here but I don't like the cut of their jib here.

[loobrush] 04/4/2017 17:51

tabhair-apologies you are correct.

[shaker44] 04/4/2017 17:29

But initially I too have written to the Chairman.

[badtime] 04/4/2017 17:16

Dived out just after that rns, more in a fit of pique than anything being annoyed by the fee increase..looking at the closing share price I'm glad I did ..I'll watch and see where it settles

[shaker44] 04/4/2017 17:05

In my view, this should be brought to the attention of the Jersey regulator. A clearly unjustifiable fee increase, with beneficiaries a related party- which party also carries huge voting power. If it looks like a fish, and smells like a fish, maybe its fishy....

[tabhair] 04/4/2017 17:00

Just doing some more digging, and I don't like what I've read.

The current Board of Directors own some 7.5M shares. The investment manager that is the recipient of the increased fees on the other hand owns nearly 20M shares.

"The group headed by LXB3 Partners LLP, which includes LXB Adviser LLP, the Group’s Investment Manager, is a
related party of the Company. At 30 September 2016, the members of LXB3 Partners LLP (and their spouses) held an aggregate total of 19,645,344 (30 September 2015: 15,679,847) shares in the Company."

It seems like there is a massive conflict of interest here, the investment manager has a nice wedge of stock that they are/can use to vote themselves pay rises.

Apologies if this was common knowledge to most and was previously covered. Unless I am missing something, this raises a huge red flag on this company.

[tabhair] 04/4/2017 16:39

Loobrush - the NAV as of the most recent results is definitely 38.7p. Management issued a RNS clarifying this - hxxp://www.lxbretailproperties.com/_news/publication_of_2016_report_and_accounts_21_11_16_1479749665.pdf

[shaker44] 04/4/2017 16:12

Good email. Have you been able to ascertain how close the investment manager is to the existing board?
From a quick look, I question whether it is arms length. In other words, those agreeing the higher fees may be beneficiaries of it. And that can't be right or go unchallenged can it?

[loobrush] 04/4/2017 14:58

Well what to do.
I am of the view that LXB is a firm hold for me.
The final results last year stated assets were 56p and also stated that at the report date(nov) the chairman expected that asset value be in excess of that at wind up despite challenging markets.
Since then disposals,it seems to me, have not made any material change to asset values.Whilst the recent planning permission may well have increased the asset value.
So if we get the asset value at the minimum of 56p it would give a 40% gain from todays share price.
I would be happy with a 20% gain,let alone 40% so I am holding on as I think that with the substantial Directors and their pension fund holdings they will be looking to get the highest value possible over the next few months.
So downside limited -upside possibility +40%