Melrose Industries Share Discussion Threads

[sogoesit] 11/1/2019 12:56

Yeah, I remember that Fidelity/Schwab episode well, sjack!

Recently (mid-last year), EPML went into administration (Trustee of my SIPP) and was bought out by Suffolk Life. My broker for that was iDealing. iDealing got into a fight with Suffolk Life, wanting to push all the business onto other Trustees they had "done deals" with that I had never heard of but without the flexibility to self-invest.
Had to threaten iDealing with court action to make a broker transfer to TD Waterhouse. Then Suffolk Life sent me 40 pages of waivers of liability contract to sign which then involved a lawyer.
Result, after over 6 months, still in limbo although Suffolk Life have not charged, have made a partial transfer of assets to TDW (now Interactive Investor who, inbetween, changed their Trustee) and they withdrew their liability waiver contract on threat of legal action.
And Pensions are a regulated business! What a shambles!

Interactive Investor, ex TD Waterhouse, are cost-effective (fixed fees not asset percentage related and the quarterly fixed fee comes with a credit against dealing charges so, effectively, the fixed fee, if you deal in any quarter to the fee limit, means the charges are nil.) II has a wide selection of markets and exchanges as well.

[minerve] 11/1/2019 12:52

Fair enough. Good luck with your holding.

[brexitplus] 11/1/2019 12:44

I only have a small holding. Many of the investments are well established and I find it quite exciting to be involved with the young clever people pushing disruptive technology forward without needing huge amounts of expensive equipment. It keeps my brain active having to learn about the technologies evolving.

[steeplejack] 11/1/2019 12:35

Well argued.I agree and thats why I would only buy small.

[steeplejack] 11/1/2019 12:33

The idea of moving my portfolio fills me with dread.Years ago,when Fidelity closed their UK operations,I was put into limbo for six weeks as i moved to Schwab.Fidelity had effectively sold their customer list to Barclays and penalised customers with time delays for not wanting to move despite the commissions being considerably higher there at that time.Ironically,Schwab also retreated to the US later and I did join Barclays stockbrokers who have recently had some real problems integrating their stockbroking activities into their banking platform.

I recently looked at Hargreaves and they appear to me to be the best option but are the priciest.AJBell are worth reviewing.They look a little cheaper than Hargreaves.Both brokers facilitate overseas holdings.If you’re with Barclays and Takeda takeover Shire for example,you’re pretty much stuffed.They have no facility to allow you to accept Takeda stock .If I’m trading in the US,I use a US domiciled broker,much easier and the research is far superior.

[gettingrichslow] 11/1/2019 12:02

B+, never heard of them but I'll take a look. I've got a bit of cash lying around which needs a home. By the way, anyone out there moved an ISA to Hargreaves Lansdown recently? I've had an email offering me £500 to transfer which is tempting given they have a £45/yr cap on non-fund ISAs...I've only recently moved to IG and that was £500 too.

[brexitplus] 11/1/2019 12:01

Hi steeplejack. The Advfn Draper Esprit board is very good. Plenty of informed posters.

It certainly has a good range of investments across Europe, several of which have big company investors. I don’t know much about blockchain but the opportunity to make money from it is good. Seems to be a few in disruptive banking, and also in biotech.

Recently investment Grapeshot was bought by Oracle for $325 million, although many thought it could have eventually been worth $1 billion. Draper was a late investor. Invested £1.4m in 2015 and sold in 2018 for £11.3m, a 8.3x increase in 3 years!!! Editorial said

“In 2014, the Cambridge startup was worth about $15 million, a person familiar with the matter said. A $325 million price tag suggests its value has rocketed to more than 20 times that since then. The company raised less than $20 million in total funding since launching in 2004.

Albion Capital led an initial funding round in Grapeshot in 2014, then participated in a follow-up round in 2016. Albion says it has seen a 10x return on its investment.”

That’s my type of investment!!!

Agree about access to private companies. An interesting comment says that NAV seems to catch up the share price on results, followed by another rise in share price thus restoring the premium.

[steeplejack] 11/1/2019 11:54

No,don't hold at moment.I'm looking at it now because you drew attention to it.It's appealing.I like the fact that it's got exposure to a company involved in blockchain among others.There's nothing not to like.Simply a question of whether the premium to assets isn't a bit rich but getting access to all those private companies necessarily commands a premium.Thanks for the idea.Its what these BBs are meant to be about.

[brexitplus] 11/1/2019 11:29

Steeplejack, are you invested in Draper Esprit?

Its the type of company I like to invest in. I’ve always has Private Equity in my portfolio. Draper also has a VCT which is something I’ve avoided before but the investment trust is more up my street. I also have, of course Melrose, Syncona and ICG Enterprise Plc (which I seem to have held for ever!!!).

[steeplejack] 11/1/2019 11:19

https://www.hl.co.uk/shares/shares-search-results/d/draper-esprit-plc-ordinary-shares

[brexitplus] 11/1/2019 11:17

Thank you m.

There is a very interesting video of fellow founder Nigel Toon being interviewed which cemented my decision to invest.

Than you steeplejack. The article is as follows

“Peel Hunt reaffirmed their buy rating on shares of Draper Esprit (LON:GROW) in a research note released on Thursday morning.
Other equities analysts have also recently issued reports about the company. Numis Securities increased their price target on Draper Esprit from GBX 640 to GBX 660 and gave the stock a buy rating in a report on Tuesday, December 18th. Liberum Capital assumed coverage on Draper Esprit in a report on Wednesday, September 26th. They issued a buy rating and a GBX 700 target price on the stock

Draper Esprit Company Profile

Draper Esprit plc, formerly known as Ingleby (1994) plc, is a private equity and venture capital firm specializing in any stage in the lifecycle of a business from seed and series A stage, growth capital to pre-IPO investments, late stage, cross-stage investments, buyouts, PIPES, and also makes direct and secondary investments in portfolio companies.”

[steeplejack] 11/1/2019 11:11

https://www.dispatchtribunal.com/2019/01/07/draper-esprits-grow-buy-rating-reaffirmed-at-peel-hunt.htmlCertainly interesting.Trading at a significant premium to asset value but that's not surprising.

[minerve] 11/1/2019 10:56

I was a colleague of the founder of Graphcore - Simon Knowles. Thoroughly decent chap and one of the best brains in the business.

[brexitplus] 11/1/2019 10:34

Getting

Have invested in Draper Esprit Plc.

It has a tremendous company called Graphcore in its portfolio in which Microsoft, BMW, Dell and Sequoia Capital are investors. Graphcore has developed a new chip for artificial intelligence. Potential is huge and it is British, based in Bristol.

Other excellent investments in the portfolio.

[meanwhile] 11/1/2019 09:03

getting's rhapsody :-

I could while away the hours
Conferrin' with the flowers
Consultin' with the rain
And my head I'd be scratchin'
While my thoughts were busy hatchin'
If I only had a brain

[gettingrichslow] 11/1/2019 08:17

Minny has reached 'peak meltdown'! Get the violins out 🐶🐶😂😂

[brexitplus] 11/1/2019 08:15

Getting, I’m thinking of taking a small position in Draper Esprit Plc which invests venture capital in unquoted technology companies across Europe. Have you looked at them?

[brexitplus] 11/1/2019 06:46

Getting, our future is in your hands!!!😁
28513;😂€514;😂㈳4;

[gettingrichslow] 10/1/2019 23:22

They were all in Leeds actually. Rather puts the dampeners on your theory that all the youngsters would vote Remain though.

Re: Kier, only the other day you were saying you wanted price to fall so you 'could build a position' - make your mind up!

[gettingrichslow] 10/1/2019 19:42

Anyone who is convinced that young people are very much Remainers should tune in right now to the Channel 4 News programme featuring a debate with young people who were too young to vote in June 16 but could now vote. The majority of them appear to be Leavers, much to the surprise of Jon Snow who is hosting it!