Pantheon Share Discussion Threads

[skyship] 27/6/2022 12:23

NB: I've posted the The Citywire article in full over on the PE thread.

[ferrox5] 27/6/2022 12:19

Sky

Sorry about the garbled English.

I agree the valuations are probably conservative and i am more likely to add than sell up. It's just I think there's a bit of a panic about valuations at the moment and PIN is getting hit. The only things I am a littled worried about are rising interest rates and if the £ strengthens ($ weakens).

[skyship] 27/6/2022 08:48

ferox - see extract from today's Citywire article:

"The implication is that NBPE and HVPE’s private equity portfolios probably won’t have been hit by as much as the 22% fall in the S&P 500. However, their share prices have fallen by more than 25% this year, and I thought that they were cheap even ahead of this.

All these funds tend to value their investments conservatively and achieve sizeable uplifts when they realise them. I reckon that if you could buy or take control of a whole fund at the current share price and liquidate it over time, you would stand a reasonable chance of more than doubling your money – those are enormous sums going begging. Remember what happened to Electra when Edward Bramson’s Sherborne took it over and extracted huge dividends winding it up!"

[skyship] 27/6/2022 07:33

ferrox5 - you ask: "How accurate in reality the valuation are in reality is clearly an issue."

A: Not very, they are always rather undervalued as evidenced by the average surplus recorded from sales!

[starpukka] 23/6/2022 20:51

Not a word by management on the share price decline. Can't they say or do something ? Presume they don't care as long as they are picking up the fees that come when you don't pay a divi.

[ferrox5] 23/6/2022 18:44

Yes, PE is very out of favour at the moment. How accurate in reality the valuation are in reality is clearly an issue.

This article is mainly about Scottish Mortgage but PIN is mentioned briefly (its 2008 performance!)

://www.trustnet.com/news/13311019/why-scottish-mortgage-and-others-may-have-a-private-equity-problem

Sorry but it wouldn't post until https removed

[skyship] 23/6/2022 16:10

Dropped to 240p today! A 46.4% discount. Never thought I'd see such a bizarre valuation. Pari-passu with HVPE on a 46.9% discount.

What's going to turn these around as at the moment totally friendless, regardless of value.

For a start they've both got to wake up and start paying a dividend; but NBPE yields 5% and that too on a 40% discount...

[starpukka] 08/6/2022 16:12

Added more today @ 265.8. Huge discount now.

[skyship] 23/5/2022 16:07

After all the Apr'22 NAVs, note these discounts:

# CLDN @ 3680p = 27.6%
# PIN @ 298p = 34.1%
# NBPE @ 1545p = 33.1%
# ICGT @ 1114p = 34.1%
# HVPE @ 2215p = 41.4%.....I kid you not.....41.4%!!!

HVPE looks to be the anomaly to play.

[starpukka] 23/5/2022 11:53

NK104 Been thinking this for months. Seems massively out of favour or just overlooked; even taking into account PE sentiment and broader market moves. I'm still holding.

[skyship] 23/4/2022 12:12

ali - PIN is an investment trust in the specialist Private Equity sector - for more info on private equity go to the PE thread.

[ali47fish] 23/4/2022 10:04

is pantheon an investment trust the heade does it say anythig about what sort of company it is

[rambutan2] 23/4/2022 04:45

Helen Steers interview on ii, in two parts:

[rambutan2] 23/4/2022 04:36

March nav, up 4%:

[chc15] 07/3/2022 13:42

Added earlier, now up, pe stocks all over the place.

[starpukka] 21/2/2022 17:46

Thank you Sky.

[skyship] 21/2/2022 16:34

sp - look across the whole PE sector. PIN not fallen as far as others. Biggest faller NBPE which are now on a 29.1% discount! I've bought there today.

[starpukka] 21/2/2022 14:28

Why does PIN keep falling back, further widening its discount ?

[chc15] 14/2/2022 16:39

Yeh I've been active today, adding here and 3i.

[skyship] 14/2/2022 15:10

Well, I'm 33% CASH, so couldn't risk pressing the button on a few PIN @ 309.5p - discount to the Dec'21 NAV = 25.5%.

[pavey ark] 27/1/2022 16:38

Popped in here for an initial purchase (1000 @ 304.38P).

Let's see if I can get a feel for things here....always been a bit of a discount junkie ....doesn't always work out though !!

[skyship] 27/1/2022 16:32

CHC - Under the epic of PE - see below:

[chc15] 27/1/2022 15:03

Yes added some BPET today, were is this pe thread?