Mobius Investment Share Discussion Threads

[spectoacc] 15/1/2020 14:36

101.9p, really has been going gangbusters. In for another slug, that's likely it now for me.

Last 10 (daily!) NAVs:

96.29p
97.83p
97.71p
96.01p
96.75p
96.93p
98.39p
99.37p
100.77p
101.9p

That's far from a consistent rise - 97.71 to 96.01 in there, but wow - it's still 5.5p in a fortnight on to NAV.

[spectoacc] 15/1/2020 09:01

Performance does seem to have turned but agree it's too small, and as soon as they said they'd stop tackling the discount, it widened right out.

Is the last few days more about weak £ too? NAV very variable.

In it but not in great size, & feels more one to tuck away. I like their strategy, but as noted above, they need to prove it works.

[steve3sandal] 15/1/2020 07:51

Agreed. I largely suspect it’s because investors have become bored. So far nothing from the Board but there’s not a lot they can directly do as this IT is still subscale at £100m. Triennial tender or wind up votes can have a bit of an effect meanwhile, though even that is drastic given its infancy. Mark Mobius buying another >300k shares was noble but in itself not likely to increase retail or institutional demand. In simple terms Carl H and team need to become successful in MMIT, nothing more nothing less.
The current discount is unlikely to close much unless EM are on fire. Last year I bought back into EM through TEM as I felt large cap, consumer focused would do best first. That’s working out fine. I did feel the discount here was an opportunity to add a smaller different EM valuation tilt and added a small position here ahead of SGEMS which is suffering the same discount, boredom, performance issue when compared to the instant daily returns available from the S&P. To be clear last bit is tongue in cheek not advice.

[spangle93] 15/1/2020 07:49

Yes, I'd noticed that - but in another article it was pointed out that if the NAV is 100p, MMIT has hardly shot the lights out in terms of performance and perhaps the discount is warranted?

[rambutan2] 15/1/2020 04:57

Discount a bit too big really...



MMIT’s share price decreased to 86.2p in Q3 2019 (down 14.0%), trading at an average discount to NAV of 1.3% (compared to a premium of 1.7% in Q2 2019). The discount widened to 6.7% at close on 30 September 2019. In accordance with our discount management policy, MMIT’s Board has been notified that the average monthly discount has recently breached 5.0% and discussions are ongoing to consider the most effective steps to ensure this is reduced.

[loganair] 21/5/2019 11:30

That's normal and the opposite is true with a big discount to Nav when a trust buys back shares.

[pvb] 21/5/2019 09:47

Interesting. They are containing the premium by issuing shares, issued some at 92p yesterday.

[pvb] 14/5/2019 22:02

Despite fall in share price still at a small premium to NAV according to latest Net Asset Value statement. Curses!

[loganair] 09/3/2019 09:51

In Africa I would prefer Kenya.

I remember seeing a programme on Mobius looking to invest in Africa. He said there are many good companies, however sadly they're too small and therefore not worth his time and effort in investing in them.

[tenapen] 09/3/2019 09:03

Zimbabwe !

Maybe :-)

[loganair] 08/3/2019 22:29

Looking at this one.

I like how this Investment Trust is invested far less heavily in China and Greater China then other EM Trusts.

I would like to see an investment in another South American country such as Peru, Chile or Columbia. I would also like to see Vietnam in the mix and other Frontier markets.

Anyone any idea where Mobius may invest the over 25% cash that this trust is currently holding?

[tenapen] 16/2/2019 16:13

Mmit gets a positive mention in today's the times news paper.

[toffeeman] 06/2/2019 07:56

Because I could have bough more than I did at the IPO

[pvb] 05/2/2019 18:17

"felt sick"? So far the share price only ever fell from the IPO by about 6%!

[toffeeman] 05/2/2019 07:56

I bought at the IPO, felt sick, and am now feeling better :)

[tenapen] 04/2/2019 19:59

Mmmmmmmm !

:-(

I haven't had two penny's to rub together let alone buy shares, so good luck to all.

[pvb] 04/2/2019 19:27

...Yeah. Wish I had added now, at 94p. ;-)

[spangle93] 04/2/2019 17:30

Although to be fair, 94p would have been a better time to take a position :-(

I didn't buy into the IPO cos it looks destined to fall - sadly I then didn't have faith of my convictions, and it's motoring away with a premium to NAV

[andrewbaker] 04/2/2019 14:35

Yes: now it's maybe time to take a position.

[pvb] 30/1/2019 00:56

Now above £1 float price again. NAV ~ 100p/share

[toffeeman] 28/1/2019 12:25

Perking up

[jonwig] 13/12/2018 14:24

NAV of 98.2p is not a bad record for the short term.
But like others, I'm on a buyers' strike.

[andrewbaker] 13/12/2018 13:55

Due to the political and, as a result, the economic climate in the markets MMIT is investing in, I think it'll be a while yet before I buy in. I don't see there's a big risk of missing out on much growth in the short to medium term. But I'm still keeping an eye out: when the time comes, this could be a good way to cover the areas Mark Mobius is involved in.