Oakley Capital Investments Share Discussion Threads

[ali47fish] 17/11/2021 17:28

Dave the link does nt go direct to the interview as I have forgotten log in details

[apple53] 15/11/2021 16:53

Thanks speed. In such fast moving markets, and with parallel investments with daily NAVs, I'm getting quite impatient!
I guess there's scope to follow the portfolio closely to take a better view, but I just don't have time.

[speedsgh] 15/11/2021 16:27

Trading update for FYE 31/12/21 should be due end of Jan and should confirm year end NAV (TU for FYE 31/12/20 was released 27 Jan this year).

[apple53] 15/11/2021 13:03

Anyone have a view on real-time NAV? I'm guessing up 7% since end June essentially by holding my wet finger in the wind (MSCI is up 6% since end June). This happens to coincide with Hardman's 476p estimate for year end NAV as of 2 months ago.
Anyone know when we are due an NAV update?

I will admit to having shrunk my position prematurely (plus a bit of trading) and the replacement investments have probably underperformed OCI on balance (though I do think I switch some into Metro around a quid).

[cwa1] 09/11/2021 08:27

OCI get a brief mention here:-

[f56] 08/11/2021 17:08

Think again.

This one has a lot higher to go.

[makinbuks] 27/10/2021 10:48

Agreed, this has been a strong run of late after a long period of inactivity around £3.50. Looking forward to the start of quarterly NAV updates which should maintain the momentum

[essentialinvestor] 27/10/2021 09:33

Mentioned previously over £4 a share by Q1 2022, looks more than
doable now.

[donald pond] 22/10/2021 11:22

Now my second biggest holding.

[chester] 21/10/2021 13:43

New Highs here

[hpcg] 08/10/2021 13:59

Red Ninja - I wasn't in PE at the time either, so yes, I am sure that is helpful. I also think many investors are living in the past with their perspective on what PE does. I'm sure many think that it is all take over listed companies, cut costs and leverage up. They have completely missed that plenty of funds are growing businesses that have never been listed. This is where the engine of growth is happening now, and ignoring the sector is to an extent leaving one to sort through the dregs of those that could not get private funding.

[speedsgh] 08/10/2021 13:06

@ali - private equity

[ali47fish] 08/10/2021 12:57

hpcg what's pe please

[red ninja] 08/10/2021 11:23

hpcg,

I am long OCI and see them as a long term hold.

However, I was not burned by PE so maybe it is true them some investors still remember those days.

I see OCI as a well run value and growth play at a nice discount to NAV.
I also like the fact that it is Eurocentric ie avoids highly rated US stocks.

All IMO

[hpcg] 08/10/2021 11:11

Red Ninja - just how insane are investors who are anchored to an event 13 years ago and subsequent to which the vehicles in question have altered their approach? What happened to using evidence in the investment process? Any review of a results announcement from the PE funds will outline the cash on hand and the commitments they have.

I bought a whole load more yesterday as nothing like the fresh air feeling of blue sky. I have a whole load of cash coming back from the Zegona capital return and I have little doubt a good chunk of it it will be heading in the direction of PE.

[donald pond] 07/10/2021 16:50

Oakley one of the picks here: hxxps://citywire.co.uk/funds-insider/news/my-favourite-fund-10-pro-buyers-top-current-picks/a1565632?ref=funds-insider

[essentialinvestor] 07/10/2021 16:28

Strong finish.

[red ninja] 07/10/2021 16:18

Link is :-



"HarbourVest’s discount in particular is perplexing. The trust has grown its assets by an impressive 36pc since the turn of the year, yet, because the shares have gained only 18pc over that period, their discount has widened rather than narrowed.

Fund manager Peter Walls, who holds HarbourVest, Oakley Capital and ICG in his Unicorn Mastertrust fund, believes these large discounts are down to investors’ lingering memories of the credit crunch. Share price collapses among private equity trusts that overborrowed in the run-up to the financial crisis still cast a shadow today, yet these trusts are now run differently, Walls says.

“The global financial crisis left a lasting impression on a lot of the private equity fund managers that they had got to be a lot more careful in managing their commitments, debt and balance sheets as effectively as possible. A lot of lessons have been learned from the past,” he says.

Those who shun the trusts are missing out on returns that have historically outstripped those from stock markets, a fact recognised by large investors with a long-term outlook. “Look at the great US ‘endowment’ funds. They all have some holdings, often as much as 20pc, in private equity,” says Walls."

[lizafl] 07/10/2021 13:33

A Questor item on private equity in today's Telegraph may be partly responsible for the rises today. I don't have access to the article, but I understand that HVPE and OCI were both mentioned as good value opportunities.

[hpcg] 07/10/2021 13:03

I wonder if the message is getting through that PE is eating the stock market for lunch?

[donald pond] 07/10/2021 12:37

The whole sector is still cheap EI, with NBPE, PIN and HVPE all on very similar discounts around 25/26%, though HVPE is much the better performer since the start of 2018, averaging 17.9% a year compared to 10.9% at NBPE and 12% at PIN.
OCI by contrast is on a discount of 19.3% and has managed 23% a year over that period. Though the discounts vary in part due to how often underlying assets are revalued and I think OCI is behind the curve, so its discount is likely bigger than stated