New Star Investment Share Discussion Threads

[coolen] 21/3/2018 23:20

Maybe having a problem in retaining "investment trust" status (narrowing spread of shareholders ?)

[jhan66] 21/3/2018 13:44

Half year results are later than normal, unless I’ve missed something.
Maybe they’re working on something to unlock value for those shareholders they’re always looking out for.

[spectoacc] 10/2/2018 10:36

Indeed @coolen - already lost count of how many times I've gone to trade something I already hold, to be told I have to read a form about it first! Ridiculous. Bad enough for new purchases, but something I'm adding to or even worse - selling?

@topvest - large discount and large spread, so I don't disagree, & continue to hold a reasonable chunk.

[coolen] 09/2/2018 20:31

Specto, regarding the new pre-dealing email requirements, you have detected an aspect of Mifid II which will indeed cause turbulence shortly amongst small traders.

And yes, permission to hide trades from PIs by reporting on Plus, hardly equates to the promise of "enhanced transparency".

Your frustrations will soon be shared by the many.

[topvest] 09/2/2018 19:16

I can't bring myself to sell at a large discount. Will keep holding for now.

[spectoacc] 09/2/2018 07:25

What about 2x 15k? ;)

Thanks - not sure why my system (Alpha) doesn't include Plus. Reminds me of the farce of MIFID II (where I now frequently can't trade stocks I already hold, unless I email broker first to send me a form) - attempts to "open up" things like reporting just make it all much less opaque.

[coolen] 08/2/2018 17:26

MMs have been reporting on Plus as opposed to LSE. For instance, 15,000 reported there today @110.5p.

[spectoacc] 08/2/2018 16:32

Sold a few for the first time today - amazing how the MMs manage not to report the trades! Haven't given up on NSI, but the discount has come in a touch, whilst the market has come down a bit. Dislike selling on that 10p spread mind.

Been a lovely one so far - and is reasonably defensive I reckon. But nice to have some cash in reserve for if there's further market falls.

[coolen] 07/10/2017 22:33

The new lad coming in, David Gamble.
Is see he is ex-BA, but is he also the same "David Gamble" who ran the Shell Pension Fund in the 1970's ?
That particular Mr Gamble was quite smart.

[riskvsreward] 07/10/2017 19:06

The pain is that the spread of 100-110 p easily eliminate over 5% of the discount, making it less undervalued.

[topvest] 07/10/2017 11:49

Interesting £3M investment in Embark Group Limited. All a bit eclectic.

[topvest] 07/10/2017 11:35

Annual Report just arrived. Performance has definitely improved. Looks a safe place to hold at the moment with a 30% discount. At some point something will happen I guess and the discount will disappear. Brompton Asset Management are pretty small still with a £ billion or so under management. Duffield is 78 I think so probably taking life a bit easier. He's probably happy to just sit on this and take the management fees into Brompton. Could go on for another decade or two I suppose.

[topvest] 18/9/2017 20:04

At least the lacklustre performance has picked up a tad. Last 2 years has been acceptable.

[spectoacc] 18/9/2017 08:03

@jhan66 - that's a little more honest of them at least. Will be interesting to see what happens when Duffield "departs" - ie where his shareholding goes.

[jhan66] 18/9/2017 07:37

Morning Specto,
This part is a new addition...
Over the last few years the Company’s share price has been at a significant discount to the Company’s net asset value. The Directors review regularly the level of discount, however given the investor base of the Company, the Board is very restricted in its ability to control the discount to net asset value.
Am I correct in interpreting that the Board are frustrated by a majority shareholder?
Xd 14th Nov. Is increased but still only 0.5% of true nav.

[spectoacc] 18/9/2017 07:16

I've got it - they're copy/pasting this each time to save costs in having to write it out again:

"Your Company's shares continued to trade at a significant albeit narrowing
discount to their NAV during the year under review. Your directors have
discussed various options with a view to reducing this discount but no
satisfactory solution has yet been found. This position is, however, kept under
continual review by the board. "

[topvest] 10/8/2017 12:32

Hopefully the former rather than the latter, but time will tell. OCN is a good company whatever happens. Could demerge its investment arm at some point which would help eliminate the double discount.

[topvest] 10/8/2017 08:30

Probably more chance of an exit on New Star which will crystallise value. I prefer Hansa as its an excellent deep value play with moderate income, if you like Ocean Wilson. Better chance of long term growth on Hansa. New Star is a bit of an index tracker (at best), but will generate a 50% upside as and when an exit occurs at some point in the next decade.

[spectoacc] 10/8/2017 07:27

An old mutt sleeping by the fire, but I hold it over Hansa.

[topvest] 09/8/2017 17:56

Hold both. Hansa Trust is good. This is a dog. Only my view.

[mw8156] 09/8/2017 16:29

seems the market hates this and Hansa but surely value must out in the end?

[topvest] 08/3/2017 21:09

The documents should all be on the Companies House web-site I suspect.

[mw8156] 07/3/2017 22:36

Many thanks Topvest and erstwhile 2; I may attempt to claim some money from the liquidators for my few shares held on a platform....