Marwyn Value Investors Share Discussion Threads

[spectoacc] 09/11/2019 21:18

OCI is the only PE I hold or want to hold tbh.

Tho have a few legacy MVI elsewhere.

[skyship] 09/11/2019 14:08

Really feel for holders here; yet another Robert Ware disgrace. Also wouldn't hold out much hope of Invesco trying to rectify matters. Best to just sell and move on.

Where to is always the problem!

Within the PE sector choose from those listed on the PE thread. IMO best value at the moment might be NBPE.

[ygor705] 09/11/2019 09:28

See that Invesco is all over the press today and for all the wrong reasons. It seems that Woodford's protege Mark Burnett has to too many underperforming income funds at Invesco. The MVI model is beginning to resonate too uncomfortably with recent failures in the managed fund sector.

[spectoacc] 07/11/2019 10:12

Invesco could at best be described as "inactive".

[ygor705] 06/11/2019 18:20

The latest RNI is an absolute disgrace and a total rip off so far as shareholders are concerned. Not convinced that Invesco have big enough balls to sort this out: that's why their performance is also sub-standard. A Woodford situation is beginning to come into view here.

[gleach23] 06/11/2019 17:58

Difficult to stomach on the back of recent performance!

[spectoacc] 06/11/2019 15:56

"...To support the launch of new management teams and acquisition companies.."

Because that's gone really well overall, hasn't it.

[tiltonboy] 06/11/2019 12:15

What an absolute disgrace:

Marwyn Asset Management Limited, as manager to the Marwyn Funds (the "Manager"), intends to use the proceeds attributable to the Company's ordinary shareholders to support follow on investments in the current portfolio and to support the launch of new management teams and acquisition companies.

Robert Ware, MVIL Chairman, commented: "The sale of BCA to TDR delivers a successful outcome for MVIL and supports the Manager's track record of backing exceptional management teams to execute investment strategies that can generate shareholder value. The Manager continues to assess opportunities to reinvest the resulting capital now available to the Marwyn Funds."

The arrogance of these guys is unbelievable, coming on the back of three virtual write-offs, which they decline to mention.

[spectoacc] 05/11/2019 20:21

Don't forget that MVI previously addressed this with the (I thought at the time) comical MVIR. Basically, MVI but without any divis, just capital return, and the statement that they had "no intention" of disposing of anything.

MVIR'ers are having the last laugh.

Bestinvest do a Dog Funds list, CityWire and Investors Chronicle their "Please give us some more advertising" top funds awards - surely it's time someone did a "Doing the right thing when all other options have been exhausted" list.

Or rather, one that shows the extent managers/majority shareholders/Boards are dipping in or putting up with mediocrity.

NSI would be near the top (check their discount history and repeated comments about it), CYN (charges, performance), WPCT (on so many levels), MVI, DCI, SPDI, JZCP (some classic RNS last week), GRIT - bloody hell, the list goes on.

[tiltonboy] 05/11/2019 19:09

The NAV has been in free-fall for some time, and the managers have taken layer upon layer of fees all the way.

My only hope is that Invesco now demand that capital is returned, as I think the deluded incumbents will try and set up another "shell" company.

[gleach23] 05/11/2019 18:51

They've had long enough to come up with a plan. Could they do some sort of special dividend?

[ygor705] 05/11/2019 18:39

The BCA acquisition seems to have done very little for the share price and net asset value seems to be dropping like a stone. A return of capital means less income in the hands of the greedy Managers and so I'm sceptical about a return of capital. Beginning to run out of patience with holding a stock with zero yield.

[makinbuks] 05/11/2019 18:24

Yes lets see the plan now

[gleach23] 05/11/2019 18:22

Thanks. Job done then.

[gleach23] 05/11/2019 17:43

Great news tiltonboy - thanks for the heads up. Do you have any link for info?

[makinbuks] 01/11/2019 11:18

If the BCA deal goes through we must be due a Simon Thomson update

[spectoacc] 31/10/2019 20:32

Have they said anything about the BCA proceeds? Bonuses?

[gleach23] 31/10/2019 20:01

I notice the Interims on 27.09.19 included -

"The FCA has also approved the acquisition, however, at the time of writing, the offer remains subject to certain other conditions including approval by the European Commission."

[tiltonboy] 31/10/2019 18:33

I havent got a definitive timetable, but it cant be long

[gleach23] 31/10/2019 18:32

Thanks tiltonboy...can't argue with that.

Yes of course the share price in Wilmcote, another "investment" which has been "in the price for free" has almost halved in value after being recently restored to AIM.

Do you know of any milestone/deadline date for the BCA deal?

[tiltonboy] 31/10/2019 18:06

There has also been a substantial write-down in Wilmecote. Yet another failure from the deluded managers.

The BCA deal should conclude soon, and the proceeds need to be returned to shareholders.

[gleach23] 31/10/2019 17:14

Anyone able to summarise where the BCA takeover is at please?

There was some chat back in June that Crispin Odey had a short position open on BCA saying he didn't think the takeover would happen but I notice it's since been exited, according to short tracker (which incidentally currently shows no short positions open).

There seems to be plenty of stock available to buy currently (and not much on the sell side) but I'm monitoring with a view to a top up if it continues to drift. I know the La Chameau write down has been announced since but MVI is now approaching where it was pre BCA bid.