Pantheon Share Discussion Threads

[nickwild] 06/8/2021 00:00

If I want a 3% divi I can sell 3% of my shares which hopefully have gone up 10% over the year. I make a capital gain which if it is < 11k is tax free. Repeat every tax year as required.

[skyship] 05/8/2021 21:29

tv - precisely - 3% of NAV would be my preference.

nw - unfortunately the logical end game for a capital growth policy is a 65% discount, like TFG. The only party to profit is the fund manager - a win/win for him; especially when there are shareholders who don't see the logic.

[topvest] 05/8/2021 21:11

Yes, total return is fine. That's what PIP is all about - its a compounding machine. Same with HVPE. I hold both simply because they have a long term ability to compound at > 10% which is my minimum hurdle return per annum for any investment. I think its a fair point that they would be more appealing with a dividend policy of say 2 or 3% of net assets. The discount would reduce.

[nickwild] 05/8/2021 17:33

some shareholders don't want a divi. For tax purposes capital gain is better. That is one reason why I invested in PIN.

[skyship] 05/8/2021 15:54

"We are therefore working on measures to increase PIP's profile with the investment community, particularly retail investors, and also with stock market analysts and the media."

Bloody humbug that one. They know for sure what the investment community really wants: "GIVE US A DIVIDEND!!!"

In doing so it would of course place a small constraint on the increasing assets under management; so a small constraint on their fees.

HVPE & PIN are the two standouts in the sector refusing to face up to their responsibility to give shareholders a return.

[spangle93] 05/8/2021 07:34

Annual results out today



Continued good performance and strong financial position

Belief that discount is unjustified "The Board and Pantheon recognise that there is a considerable hurdle to overcome in terms of misunderstanding and distrust of private equity amongst both financial and non-financial commentators. We are therefore working on measures to increase PIP's profile with the investment community, particularly retail investors, and also with stock market analysts and the media."

10 for 1 share split coming
"PIP's share price has grown strongly over recent years,.. the high share price might be a barrier to investment for certain investors including regular savers who may wish to invest smaller amounts and buy smaller quantities of shares. Accordingly, in order to make PIP's shares more accessible to a range of investors with a view to improving the marketability of PIP's shares, the Board proposes to split each share into 10.

[its the oxman] 02/8/2021 08:53

.. all really

[its the oxman] 02/8/2021 08:52

Yes just trying to decide whether to add to hvpe, icgt or pin. Probably a good case for them really.

[skyship] 02/8/2021 08:46

Should it happen then would surely be at a premium, as there are built-in further valuation gains.

I don't really expect a bonanza like that to happen; though would of course be delightful as it would deliver a 33%+ gain from 2650p!

What I do expect however is a tightening of the discounts across the sector. The recent widening out to an average of c23% is totally counter-intuitive as all trusts are returning great numbers and flagging up more to come.

Time to be overweight the sector IMO.

[its the oxman] 01/8/2021 23:07

Who might buy pin? And would this need to be at nav or more?

[skyship] 27/7/2021 15:59

3i Group (iii) stands at 1295p v. NAV of 1063p - a formidable 21.8% premium & a MCap of £12.6bn.

PIN has a MCap of £1.4bn and trades at a discount of 24.8%.

Now that I am holding, perhaps time for a little sector consolidation. Most PE trusts too small; but PIN a tasty morsel.

[skyship] 27/7/2021 10:05

Unusual to be able to buy PIN on a 24.5% discount - so have done so at 2660 via CFD. Short-term target 2800, en route to 3000.

We've now had 4months of consolidation at this level, so expecting a breakout North:


free stock charts from uk.advfn.com

[games] 23/7/2021 08:06

Currency gains fx movement

[games] 23/7/2021 08:05

It's other way round spangle the weakening pound produced valuation gains

[arja] 12/5/2021 11:30

skyship,
thanks for your comments in March . Have not looked at this thread since and apologise for delay in thanking you . As a trader using CFds , I wish the share price in these Trusts moved more quickly as when US indices tank it wouuld be a concern ,

[nickwild] 23/4/2021 09:15

Bought a chunk yesterday. In my dealing account - hope to make a tax free capital gain. Good share for this (especially for higher rate tax payers) as no divi. Nice gain already.

[spangle93] 08/4/2021 12:56

Nice - 2750 hit!

[skyship] 25/3/2021 20:55

Hi Toffeeman - have replied...

[toffeeman] 25/3/2021 17:27

>> Skyship you have a message!

Best

[skyship] 14/3/2021 16:11

arja - clearly a little help needed.

To navigate these boards you will firstly find 12 dropdown menus - at the top of the page, just to the right of the ADVFN logo.

One of the most useful and clearly the one you now need is: NEWS

Click on that and you will see listed in date order all the RNSs put out by PIN.

A very recent one is their monthly NAV statement. From that you will see that at 2600 PIN trade at a 16% discount to their Jan'21 NAV.

[arja] 14/3/2021 15:50

lovely looking chart but does it trade at a premium to NTA if anyone knows ??

[hashertu] 19/2/2021 15:24

Approx 10% CAGR since being formed in 1997.
I can live with that.