Manchester & London Inve... Share Discussion Threads

[jfinvestments] 25/3/2021 17:22

The problem they explained was that they are selling the shares for call options for short term cash (use for dividend). Then getting them back , but possibly paying for the call option too.Essentially saying it is over complicating. Without it there would have been solid growth and with it, less.I think I will see how far this goes and how the board respond before buying more.

[thruxie] 25/3/2021 11:56

A lot of the criticism I've read elsewhere compares this trust to Scottish Mortgage. However the fact MNL avoids the Tesla and unlisted tech bubble is precisely why I prefer this. However I'll see how this plays out over the coming months but happy to add more on weakness.

[digitaria] 25/3/2021 11:50

Thanks, yes I make it about 12%. Which is historically an unusually wide discount.

[digitaria] 25/3/2021 11:27

Telegraph piece is here



worrying comments from Alan Brierley at Investec, suggesting that investors are not seeing the gains they should be.

M&L issues NAV updates weekly on Wednesday, but the link on the LSE site for yesterday doesn't work. Does anyone have the NAV issued on Wed? The trust is probably on a sizeable discount at this point.

[thruxie] 25/3/2021 11:26

It'd certainly be an interesting read but behind a pay-wall. However looking at some of the big underlying holdings eg: Amazon, Microsoft, Baba and Alphabet. All forecasting double digit growth and available here for a discount.

So I'd beg to disagree with Questor on this one :)

[superadams] 25/3/2021 10:50

Thruxie, stock is also suffering from a Questor sell recommendation this am.

[thruxie] 25/3/2021 10:18

Looks like a big seller triggering some stop losses. A nice discount to NAV opened up on quality holdings. I've bought more.

[sf5] 25/3/2021 09:48

sp now down to early 2020 levels! The perils of over-concentration in their portfolio.

[888icb] 08/11/2020 10:56

Small feature in today’s Sunday Times business section highlighting the trust and its focus on big tech. Good publicity.

[digitaria] 26/8/2020 16:22

Salesforce, which comprised 7% of Manchester & London last time they updated us, is up more than 25% today. Which ought to be positive for the MNL NAV.

[superadams] 06/7/2020 19:53

Agree. I am late to the party but wanted some fang exposure. With Amazon up nearly 5 % today I'm already in profit.

[scottishfield] 06/7/2020 19:02

Far from dull imo. An excellent trust.

[dennisbergkamp] 26/5/2020 12:09

Wow! He owns >50% of a fund? - that's very surprising, assume he must be making a lot of the decisions on investment too?

I'll look again

Thanks,

D

[thruxie] 26/5/2020 11:44

FYI one manager owns 50+% of shares and he states in his blogs that he sells shares to help the markets maintain liquidity in the trust and that he buys more overall than he sells.

[dennisbergkamp] 21/5/2020 15:53

Darren,

Not happy with those sells - was about to go in but thought I'd look in the BB first.

Will wait to see what is happening here

Thanks,
D

[darrenp746] 14/5/2020 00:53

Anyone know why there are sizeable director sales nearly every day?

[888icb] 27/4/2020 17:57

Absolutely it has performed remarkably well in the current market conditions, recovering very quickly from the large drop.

[davidblack] 27/4/2020 17:26

Turns out six weeks after the drop it’s down

“Sod All” to use the technical term.

Most impressed with them, less impressed with myself for not buying on the dip!

[darrenp746] 30/3/2020 20:16

30-Mar-20 14:23:29 526.84 1,032 Buy* 502.00 538.00 5,437 O
30-Mar-20 14:09:03 513.40 500 Sell* 502.00 538.00 2,567 O

Real spread is much tighter than the headline shown. Instead of a 36p differential it was 13p this afternoon In reality. Often tighter than that.

[panshanger1] 30/3/2020 09:17

Interested to add here but the spread is ridiculous

[basstrend] 29/2/2020 13:53

I hold six investment trusts in my SIPP, including MNL and they all took a severe bashing last week. Manchester & London fell by a whopping 18.85% !!

In just one week the average drop was 17%, which is quite a bit higher than the global markets dropped in the last week. Not sure I understand why ITs suffered worse (other than travel related stocks) compared to other stocks and indices..

Anyway, here's the drop I observed on the 6 trusts mentioned above, in the last 5 market days only -

18.95% ATT - Allianz Technology Trust
18.28% THRG - BlackRock Throgmorton Trust
18.85% MNL - Manchester & London Inv Trust
14.86% PCT - Polar Capital Trust
13.69% SMT - Scottish Mortgage Trust
17.39% SSON - Smithson Inv Trust

NB the average 5 day drop across these 6 IT's is: 17% - quite shocking really!

[davidblack] 17/2/2020 10:52

The 50%+ owner of the stock Mark Sheppard is keen to grow the Company through issuing shares and seems happy to take small losses along the way.

It would appear he wants to turn this into the next Lindsell Train type fund manager and that means upping the size.

Wish he would just hire decent PR and move the stock to a 1% premium and then he could do it easily and get institutions on board.

Also it would be much cheaper for himself personally although if he turns MNL into a hot Fundmanager with $10bn under management over the next five to ten years then he gets a double win, the shares plus the value of the fund management company.

With the huge market caps of the stocks he picks this is a million miles from Woodford’s nonsense detour into venture cap stocks, done by a previous income fund manger like NW. So the regulators would be quite supportive.

[riskvsreward] 14/2/2020 09:33

Any sensible explanation why the managers subscribed the shares at 609 p and then sold shares at 580 p.