Nb Distressed Debt Inves... Share Discussion Threads

[nk104] 18/10/2017 10:26

NAV at 93.47p

[skyship] 17/10/2017 19:59

NED - John Edward Hallam - makes an initial holding purchase of 10k @ 77.625p.

Not substantial in itself; but a positive nevertheless.

[skyship] 07/10/2017 17:01

Having reduced a few @ 79p, bought them back @ 77p as the NAV making good progress with the Stronger $ v £. NAV now back up to 94.65p so the discount has dramatically widened to 18.6%.

Due to the slow opening progress with realisations (we're now 6months into the Harvest period) and the lamentable lack of news or guidance (for which the Chairman needs a big boot up the backside!), I've put back my notional redemption from 31/03/20 to 30/09/20. On that basis the GRY stats are now as follows:

Redemption @ 100p:- GRY = 9.2%

Redemption @ 105p:- GRY = 11.0%

Redemption @ 110p:- GRY = 12.7%

[redhill9] 29/9/2017 16:15

I've reduced my holding recently by around half. I was fortunate to only find NBDG later than most and bought the majority of my shares in the 70-72p range about a year ago so the current share price not a disaster for me. Still, very disappointing that nothing seems to be happening.

[skyship] 29/9/2017 14:11

NBDG again weak market of late. Here we are 6months into the Harvest period and NO NEWS of sales and distributions. At 77p the shares are again at a 16.8% discount to the now 92.6p NAV.

All rather depressing...

[nk104] 06/9/2017 12:24

Sadly not - more NBDD and NBDX being redeemed.

NAV of NBDG now 94.98p.

[skyship] 13/6/2017 06:18

NBDX get a Capital Distribution this morning. Our turn next....and should be soon!

[tiltonboy] 12/6/2017 21:48

redhill,

I also expected it to narrow. I think we need clarification on what they are doing with the excess cash ( I asked the question two weeks ago, but no response), and hopefully see an exit or two at decent levels, and a return of cash.

[redhill9] 12/6/2017 17:33

NAV has been fairly flat for the last 7-8 months in comparison to a declining share price so the discount has widened. Anyone else surprised by this?

I thought as the harvest period approached and arrived there would be the perception of more certainty about receiving the NAV and therefore less of a discount.

[skyship] 12/6/2017 17:06

NAV as at 9th June = 93.91p

[skyship] 12/6/2017 12:13

With the weakness in £Sterling perhaps not surprising that these have finally turned. Now 76.3p-77.78p - bid for plenty, offered in just 1k...

[carcosa] 18/5/2017 05:39

Need to factor in currency effect over those years to get a true reflection of their performance.

[tiltonboy] 17/5/2017 16:56

Not a total disaster...they will have milked the fees over the seven years!

[skyship] 17/5/2017 16:49

Sorry, forgot to state the stats behind that last post; and being in a hurry to get back outside gardening before the rain came, I got the stats totally confused. The position is as follows :

# The discount to the Mark-to-Market constrained current NAV of 92.8p = 16.5%

# At a redemption total of 110p to 31/03/20, the GRY = 12.97%

# At a redemption total of a lowly 100p to 31/03/20, the GRY = 9.28%

That 100p would be a total disaster for NB Partners management. Start at 100p and 7yrs later finish at 100p - so much for the prospectus claim of great things from the inside track to a wealth of wealth asset managers!

[skyship] 17/5/2017 13:19

Sp has unwound its bull run so I'm hoping the 16.5% GRY will enable the share price to find support at the 200day MA, which coincides with the 23.6% FIB retracement:


free stock charts from uk.advfn.com

[skyship] 21/4/2017 10:05

Yes, that's how I read it; so better values restored upon disposals. Looking forward to hearing how you get on....

[tiltonboy] 21/4/2017 08:00

Mark to market weakness, and wider spreads suggest that the NAV may have been depressed a little. I will see if I can glean any information next week.

[skyship] 21/4/2017 06:29

Qtly Portfolio Update - nothing new and a regrettable lack of info on the forthcoming harvest period:

[skyship] 11/4/2017 09:11

That's a positive coming after your recent comments :)......so like you I'm looking forward to your conversation with them.

You might suggest that they "moderate" their charges in view of the poor performance! Their so called expertise doesn't warrant a 2%pa fee...

[tiltonboy] 11/4/2017 07:40

Relatively happy with that update. Hopefully get some colour on the portfolio, and likely timeframes for exits, when I speak to them.

[skyship] 11/4/2017 07:12

Annual report out on the NBDD thread.



Inv. Manager's Report reads quite well, inc.;

"94.91% of the Portfolio was invested as at 31 March 2017 leaving GBP4.9m of uninvested capital. As outlined in the Chairman's Statement the Board is considering its options for returning this capital in the best interests of NBDG shareholders."

Ongoing Charges of 2.13% are absurdly high however!

[skyship] 04/4/2017 20:16

NAV moving ahead a little:

04 Apr 2017

Net Asset Value Per Share

NB Distressed Debt Investment Fund Limited announces
the following unaudited, estimated net asset values
per share as at 03 Apr 2017:

Extended Life Share USD 1.0244
Ordinary Share USD 1.0630
New Global Share GBP 0.9582

[tiltonboy] 03/4/2017 16:01

No, they would have saved enough for their fees!

[nk104] 03/4/2017 15:53

Hopefully they didn't spend the last of it on 31st March....

[tiltonboy] 03/4/2017 10:06

Can we have our money back please!