Oryx International Growth Share Discussion Threads

[donald pond] 21/5/2021 12:13

Added this week, but crazy discount given long term performance and I think EKF and RENX are both very exciting companies. They've both had good weeks, plus the spin off shares in Trellys are being ipo'd so next NAV should show a sharp rise

[psync] 13/5/2021 13:45

7.2% NAV growth since last month's update. Total assets are getting quite chunky now at £250m.

[ingroid] 30/3/2021 10:38

Have you read the EKF figures and trading update today, which are very special.
OIG has 12% its biggest holding !

[psync] 11/2/2021 11:15

Discount back to 13% based on last month's NAV at 1563 and a quote I just got for 100 shares at 1359p. Interesting how that compares to BlackRock Throgmorton, the only UK small-cap trust to beat this over 3 years, and trading on slight premium. I guess marketing could be factor in that. Still, not complaining or tempted to jump ship just yet. Hopefully they can keep up the good performance here.

[spectoacc] 22/1/2021 14:54

Incredible - mix of performance & discount coming in. And boy, has it come in - 20% was standard for a long time, now trades at par.

[novision] 22/1/2021 14:48

....and up another 40% in 5 months. Small premium to NAV now.

[novision] 11/8/2020 17:04

Bit of a bounce back here and now an alltime high....

[fredhoyle] 10/2/2020 15:57

Spot on Steve- reason is lack of liquidity -with only circa 14 million shares in issue the majority of which are held by NAS and insiders, the free float must be just a few million. So in the event of corporate activity I wonder what are the downsides here for ordinary shareholders? Not getting full value perhaps although less of a problem in a stock deal.Apart from Chris Mills + fellow directors do we know who other shareholders are? Must be a few institutions I would have thought- if so, we have a degree of protection.

[steve3sandal] 08/2/2020 22:41

In my view the discount is nothing to do with a dividend or dividend cover.
Circa 50% of this IT is owned by North Atlantic Smaller Companies and it’s market capitalisation is too small to be of interest to institutional holders or researchers.
So it’s not liquid, it’s not widely known or owned and shareholders can’t really influence anything. There is a small risk that NAS could take it private and offer less than full NAV. So it’s typically been on a 20 -30% discount despite a pretty decent track record. I own it for the skills of the manager and capital growth. It might eventually be subsumed into NAS around NAV if and when Chris Mills hangs up his boots and the rest of the Harwood enterprise is perhaps sold to one of the mega Cap PE, FM giants. It’s a bit of a secret stock we just like to keep it to ourselves and accumulate when no one is looking.

[chinahere] 08/2/2020 20:18

Have been looking at this and also the North Atlantic Smaller Companies trust (NAS).

On the face of it they both look bargains to me but their income isn't large. Do people think it is the income doubt that has brought the wide discounts?

[fredhoyle] 23/1/2020 11:00

NAV published today (£11.91) shows a 4.6% increase to Dec 31,2019 in one month from end Nov 2019. Discount has widened again to 20% -ridiculous given Chris Mills legendary skills in identifying exciting early stage growth opportunities.

[spectoacc] 10/12/2019 08:50

Took a painful below-market 881 on the rump I had left - good luck holders, particularly on Friday.

Keeping NAS so still got some peripheral OIG exposure, and hope to be back if I'm wrong about the election result.

[spectoacc] 09/12/2019 15:40

Yup, bet this morning as it happens! Got 8/1 on Labour minority. I can't see a scenario where Labour get a majority - nor do I think they want one, they want the Tories to "own" Brexit first - and seem barely to be campaigning in Scotland where they'll be lucky to win one or two seats.

But I don't see a Boris majority, and possibly Labour largest party, and see the downside of going a little into cash as being small - yes, the spread on OIG in particular is a pig, but I think the markets (& £) have mostly baked in "more Boris", and I think they're wrong.

(Advantage of a little repositioning is lost gains; disadvantage of betting is lost stake).

[ssahoy18] 09/12/2019 15:33

if you have a gander at the betting it looks like a labour minority is about 10/1 and a labour majority is about 40/1.

if youre worried about comrade corbs i reckon that mightve been an easier way to make a buck!!

[spectoacc] 09/12/2019 15:03

Sorry all, been selling today - I don't see Boris getting back in.

[ssahoy18] 04/12/2019 11:07

still looking nice and perky. should be getting the half year report sometime in the next couple of weeks, so will be interesting to see what theyre thinking

[spectoacc] 03/12/2019 16:34

Dunno, but they also picked up 8% of CIR a fortnight ago. Funnily enough, hold plenty of CIR and a fair few Oryx.

[dekle] 03/12/2019 14:21

What do you think about the investment in INFA?

[ssahoy18] 26/11/2019 10:35

looks good to me, ergomed, hargreaves and augean which is collectively 20% of their nav are all up double digits again since the NAV just published. and more smaller winners. there'll be another big writeup in the next NAV so i see more momentum here

[spectoacc] 26/11/2019 08:19

I see the NAV was reported as £10.78, vs HL est of 1163 - however, that's only to 31st Oct (OIG's), so not necessarily any clearer!

Think I'll just stick with "It's cheap" :)

[psync] 20/11/2019 10:44

Yeah I'd also be sceptical of an estimated NAV, so it would surprise me if people were buying purely on the back of that, but what do I know. A cursory glance at the portfolio shows Ergomed and Augean (#2 and #3 holdings) both with strong 1-month performance but hard to judge the impact without hard numbers. Perhaps the spike is more indicative of low liqudity struggling to meet a sudden rise in demand. I often wonder how market makers refill their stock of these kind of shares most suited to buy-and-hold retail investors and likely to be less actively traded.

[strathroyal] 20/11/2019 10:43

Thanks Specto, that's a good point.

[spectoacc] 20/11/2019 10:38

@strathroyal - apologies, I meant how much of NAS's NAV is OIG, ie if it's 12% of NAS, then a 1.2% rise in NAS's NAV would come from a 10% rise in OIG's.

[ssahoy18] 20/11/2019 10:34

theyve smashed most other ITs over the last decade: hard to see why they should trade at the biggest discount

[strathroyal] 20/11/2019 10:30

I've got a few of OIG's holdings on my watchlist so I know some have done well lately (AUG and ERGO for example)but they are also duplicated in NAS and therefore would reflect in that nav as well. Would agree that they were cheap in the 700s but whether they are cheap now I'm not so sure.

Just to correct one thing though, NAS own 51.86% of OIG (RNS 11/01/19)