Mobius Investment Share Discussion Threads

[tenapen] 22/11/2018 18:40

I look daily but as yet i have not come close to buying. In general i fully agree with Andrews post.

Regards.

[jonwig] 22/11/2018 17:16

Howard Marks on EMs, and the market generally. Common sense stuff:

[jonwig] 22/11/2018 16:45

AndrewB - thanks for posting - I'd quite forgotten about this!

Latest NAV: at close of business on 21 November 2018 was 97.72p (ex income) 97.53p (cum income).

Actually, not a bad performance since the initial NAV would have been around 98p.

All we have so far is the inaugural managers' report, here:

[andrewbaker] 22/11/2018 15:53

Not much interest in this trust, despite it being a great time to invest/invest more in emerging and frontier markets, imho.

[topvest] 08/10/2018 14:07

I've bought a few. They are probably in a good position to invest into Emerging markets at a reasonable time given weakness of late.

[jonwig] 05/10/2018 09:58

FT:

Selling in emerging market stocks failed to let-up on Friday, a day after the asset class faced its worst day since February, with investor concern mounting over a pick-up in global developed market bond yields.

MSCI’s broad EM stocks gauge, which tracks equities in two dozen countries, dipped 0.65 per cent on Friday, adding to the 2.4 per cent sell-off the previous day.

EM equities dropped into a bear market in August, having fallen more than 20 per cent from the January peaks. There had been a modest rebound since then; however, MSCI’s index is now headed back towards 2018 lows.
Since MMIT is just a pile of cash at the present, will he consider timing important, or not? A lot of influential investors say it's pretty irrelevant.

[tenapen] 03/10/2018 19:16

Thanks for starting the thread, Jon

No rush to buy IMHO

but to buy .... ! ho yes.

Regards.

[pvb] 02/10/2018 20:40

...15 million.

[jonwig] 02/10/2018 20:05

Some holdings announced today - see header.
Note Mark Mobius.

[topvest] 01/10/2018 20:47

4% premium to buy at the moment. Will come back later!

[pvb] 01/10/2018 20:23

First NAV report, 98p.



Plus one director purchased 35,000 at par. Another, 10,000 at slightly over par.

[pvb] 01/10/2018 13:44

So could the bookrunner be selling left over shares (from the intended £200m) into the market at par?

[jonwig] 01/10/2018 12:59

Haven't a clue!

[pvb] 01/10/2018 12:36

It looks as though people are selling if they can get 100p

Why on earth would they do that? It only cost them 100p in the first place!

[jonwig] 01/10/2018 11:56

It looks as though people are selling if they can get 100p.
May dry up if the price drops below.

[pvb] 01/10/2018 11:44

Seems a bit higher at the moment than I'd expected (~96p). Though early days.

[pvb] 30/9/2018 18:51

Let's see, on Monday...

[jonwig] 29/9/2018 18:20

Hi topvest - initial NAV will be 98p. Can deploy up to 20% gearing (sound familiar?). Mgt fee 1%, no performance fee.

Since it was undersubscribed, I can't see it going to an immediate premium of any size.
Agreed, wait a bit I think.

[topvest] 29/9/2018 18:08

I will no doubt buy some of these. Bit reluctant to buy on a premium though, so may need to wait a while.

[jonwig] 29/9/2018 09:08

Could be good timing: EM shares are cheap.
But they could get cheaper still.
Lack of interest shown by target issue of 200m shares.

[jonwig] 29/9/2018 09:06

. .



Issue of 100m shares at 100p.
Dealings commence 1 Oct 2018.

Major shareholders:
Allan & Gill Gray .... 20,000,000 20.0%
Mark Mobius .......... 15,000,000 15.0%
Bank of Montreal ...... 5,500,000. 5.5%
Connor Broadley Ltd ... 5,000,000. 5.0%