Menhaden Resource Effici... Share Discussion Threads

[steve3sandal] 24/6/2021 11:28

I wrote to them via the Contact Us link on their website and flagged that in order to close the discount and be able to issue more shares they need to raise their profile amongst retail investors and that whilst director buying and a change of name suggesting what they do is useful it’s not going improve without marginal buyers. I expressly didn’t mention buybacks as they are too small to make little purchases effective I won’t copy their reply as I didn’t request permission but I was disappointed. The reply opened with religion from the recent reports suggesting that they wouldn’t be able to do buybacks. The reply sought to reassure me that they were active on the PI and family wealth circuit but I am in the former and I don’t see or hear them. As Rambutan2 flags their charges are high and it’s particularly aggreiving that these are on the NAV and not the lower of NAV and share price 2% on the NAV including performance fees and other costs is c3% on the share price They do need to promote better and I doubt they could convincingly defend their management fees in front of PIs. I’m holding and will continue to chunter as other trusts are trying much harder.
I guess if others here were to chunter too it must help. Meanwhile I do recognise a useful portfolio to me at an silly discount and we can only hope this closes in the medium term otherwise large shareholders might as well look for inspecie stock transfers of Google, Microsoft etc.

[robertspc1] 24/6/2021 10:49

It's way too cosy. Good to see some shareholder dissent emerging. NAV discount is growing so I expect management action

[rambutan2] 21/6/2021 22:25

I think the expenses are too high. I don't like the performance fee. And I really object to the way they recently moved the benchmark to RPI +3%. The whole set up comes across as a bit too cosy and bit out of touch with reality. imho

[steve3sandal] 21/6/2021 17:09

Second largest shareholder
Aachen Muenchener Versicherung 10,000,000 shares
12.50 per cent
Voted against the re-election of Chairman Sir Ian Cheshire. It didn’t make any difference to his re-election and the AGM response is discuss the matter with the dissenting shareholder. No idea why but certainly a shot over the bows. Patience and AGM questions might help but thats a while away. Meanwhile I continue to like the portfolio and the change of name must help. I’m going to suggest the managers get themselves some air time on Podcasts, BrightTALK, Mello, etc and the Board considers employing some PR like Edison etc if they really want to trade around NAV.

[robertspc1] 21/6/2021 16:24

NAV still going up ... 147.5p, when will the shares follow

[robertspc1] 15/6/2021 12:20

A meaningless change of name is hardly gonna close the discount to NAV. Someone needs to get on the investment managers case here

[robertspc1] 12/5/2021 12:59

I agree something needs to change here. I see Director buying as an indication they have a plan !

[steve3sandal1] 12/5/2021 12:30

I have no idea why ADVFN have changed my nickname adding a 1 onto my monicker.

[steve3sandal1] 12/5/2021 12:28

I don’t think is a viable proposition at this stage despite the new 5 year lease of life . They can’t buyback or try a managed discount policy as cash is limited to selling the portfolio. Large shareholders seem infinitely patient given they voted 5 more years. In case the Board are watching I’ve a suggestion. Distribute the Google holding to shareholders. That would be a start. I bought in recently as the discount got large enough to catch my eye.

[robertspc1] 12/5/2021 10:26

More director buying ... they must be thinking hard how to close the NAV gap

[robertspc1] 10/5/2021 16:59

NAV up to 146. Looking to add a few more

[robertspc1] 27/4/2021 22:03

Make that 3 directors buying... they obviously think the 42p discount is ridiculous too

[robertspc1] 27/4/2021 13:37

And as two directors are buying, I've added a few more. The discount will close so a great LT pension hold

[robertspc1] 26/4/2021 12:38

Taken a few for my pension today. Big discount to 141p NAV just too tempting. And Google, Microsoft results to come

[chrisdgb] 05/1/2021 14:18

Nice move but still a 24% discount...........

[gilesy] 27/8/2020 08:53

bought in at 0.85p
discount over 30% currently
2 largest holdings are alphabet and charter comms

[gb904150] 12/8/2020 15:29

yes...but....

Annual Management Fee: 1.25% p/a on first £100m of AUM
Performance fee: See Prospectus for details
Ongoing charges*: 2%

Pays a small divi. 0.4p this year, so 0.5% ish.

Pretty average performance and portfolio. But yes, it does come at a discount.

[chrisdgb] 12/8/2020 11:38

27% discount looks way too wide........

[chrisdgb] 13/7/2020 09:32

Looks interesting here, just discovered it.......

[rambutan2] 13/5/2020 19:20

Annual report to peruse:

[robsy2] 02/4/2020 16:45

looks cheap but the spread is high, no liquidity, performance fees....

[rob the slob] 20/1/2020 19:52

Just bought some today on Climate change/Davos/Larry Fink- iShares momentum this week

[rambutan2] 16/1/2020 20:18

Yes, got just a few. With Goldsmith family resources/contacts on hand, now the ship has been steadied, it should outperform over time.