Majedie Investments Share Discussion Threads

[makinbuks] 08/1/2021 16:14

Share price at least kept up today but discount still more than 15%. Surprised you don't read more tips on these on that basis

[spectoacc] 08/1/2021 11:57

And another 2.5p.

[spectoacc] 07/1/2021 13:06

"The unaudited net asset value per share at the close of business on 6 January 2021 was as follows: With debentures at par value: 284.56 per share With debentures at fair value: 276.75 per share" +3.5p, not bad when shares unmoved.

[spectoacc] 07/1/2021 09:48

Tortoise Fund seems like every other "low-risk, absolute return" fund - ie cr*p. Oils been a big driver too, hopefully a few of them. Either way, we'll find out soon - 273p yesterday's.

[makinbuks] 07/1/2021 09:45

Well the core UK fund is value focused so finally positioned in the right sort of space. They are usually light financials though which were the driver yesterday. What goes on in the Tortoise fund is anyone's guess and I really hope the managers here sell some of that down for more of the core UK fund

[spectoacc] 07/1/2021 09:41

Wonder if the slow-moving NAV will have moved much after yesterday's FTSE rise.

[makinbuks] 10/12/2020 10:38

This is still a screaming buy by the way for the discount

[makinbuks] 10/12/2020 10:37

Disappointed that the Tortoise Fund lost 3.4% in a year like we've just had. Very poor annual report to just state these numbers in such a dry way without any comment on the logic or thinking behind them. I would like to know how much or the reduction in AUM in MAM was down to market movement and how much to withdrawals. I had hoped that the Edinburgh mandate would have resulted in a net inflow. Finally I'm not convinced by their American market expertise, seem to perennially underperform. NO attempt by our board to rebalance, what exactly do we pay them for? All the expertise is in MAM

[edwardt] 25/11/2020 16:57

1.5million traded. i bet that was specto!

[edwardt] 17/11/2020 19:45

Fat chance

[spectoacc] 11/11/2020 14:36

And buy back aggressively.

[makinbuks] 11/11/2020 14:20

The discount lately has been absurd. Even now its probably twice what it should be. I'd like to see the management take some decisive and positive steps: 1. reverse the over allocation to the Tortoise fund 2. take action to reduce the spread and increase liquidity in the market 3. Be clear on the outlook for the fund manager asset, is it to be sold down further or is it a growing cornerstone of the portfolio? 4. Clear up the gearing issue

[spectoacc] 10/11/2020 14:38

Keeping us waiting.

[makinbuks] 10/11/2020 14:08

Still yields 5.5% at this level and sustainable from reserves

[spectoacc] 10/11/2020 13:40

Looking forward to today's NAV.

[makinbuks] 13/8/2020 09:37

Agreed, even after this mini rally the discount is 20% so why are they buying only 432 shares back? I do have concerns about the Tortoise Fund and whether it has proved a flawed concept like so many Absolute Return Funds

[edwardt] 11/8/2020 16:33

they should be buying back lots at this discount,surely? also mam on a mark to market would be far higher imo. time for a rally here me thinks!

[makinbuks] 03/7/2020 15:59

Yeah I just don't get it. Is it buying back from staff leaving maybe rather than a market transaction?

[edwardt] 02/7/2020 13:12

watch out the force of the buyback is here again. not.

[ladywormer] 07/4/2020 16:36

Daveb - that was a good find. So little is written about MAJE

[davebowler] 07/4/2020 08:14

HTtps://citywire.co.uk/investment-trust-insider/news/majedie-soars-as-perpetual-income-and-growth-pulls-trigger-fires-mark-barnett/a1344017?

[spectoacc] 06/4/2020 15:30

Coronavirus, what coronavirus?

[makinbuks] 14/2/2020 15:45

I don't see what fundamentally there can be to be concerned about. Obviously theres the value of MAM which is subjective and under pressure recently and the only other issue for me is the poor performance of the Tortoise fund where they increased the holding at the wrong moment. MAM themselves seem to have lost their golden touch. Perhaps the success they had initially was hard to maintain as they got bigger