We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Register to chat with like-minded investors on our interactive forums.
| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Schroder Uk Public Private Trust Plc | SUPP | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 14.725 | 00:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 14.725 |
| Top Posts |
|---|
Posted at 01/9/2024 09:24 by spectoacc Schroders doing very nicely out of SUPP/INOV/actress/giNot rocket science (neither, it turns out, is Reaction Engines) - sell the listed, including ONT, offer a cash exit/partial cash exit, with roll-up at a discount into the co-managed SBO. SBO gets larger, gets the junk but at a discount (say ~50%). WPCT holders finally get something back, & a rump in SBO. Listing fees, management fees saved. Alternative is what we've got - a long, slow decline, funnelling cash to Schroders year after year. Halved since their juniors took over. Fun to recall is Woody's original promise on WPCT - c.15% pa over the medium/long term. I make that a NAV of about £3.50 now. Underperformed. £800m, and a later small raise at a premium. Only HOME matches it in recent years IMO. One thing's certain - they'll be more, perhaps many more with the recent listing changes that enable founder control. |
Posted at 10/7/2023 14:30 by spectoacc Brilliant isn't it, the fun never stops at WPCT/SUPP/INOV:"Tim Creed, lead fund manager and head of private equity investments at Schroders, reiterated that Revolut was a high-quality business with a proven long-term growth track record, given its shift from solely currency exchange to a ‘multi-product ‘Revolut really can do a lot of things in a lot of geographies, which means the ceiling for Revolut is very, very high. In fact, we would argue that it’s one of Europe’s best venture-capital-back Well, that sounds good. But: "...In annual results for 2021, auditor BDO warned the company’s [Revolut's] revenues could have been ‘materially misstated’ as it was unable to verify about two-thirds of revenues." |
Posted at 19/4/2023 16:45 by pugugly Or to look at another way: Are the unquoted worth less than 18% of their claimed NAV. Possibly and also if a market turns down and ONT collapses could be close run. Valuation of ONT within SUPP below thanks to bamboo214 Apr '23 - 19:41 - 1357 of 1376Supp holding 23,334,390 ONT shares. 23,334,390 x 2.37 = £55,302,504.30 Supp mcap = £118,225,435.18 ONT currently represents 46.78% of the Supp mcap |
Posted at 19/4/2023 16:20 by johnwig Very interesting posting on the original SUPP thread. Big slice of SUPP bought by City of London.......... |
Posted at 18/4/2023 07:25 by spectoacc @Jonwig - they're only getting £3-4m a year to run SUPP, must need more to check things like that. Maybe the Link replacement should have checked. No, wait - that was also Schroders, more fees.This about summed it up I thought: "Christopher Brown, investment companies analyst at JP Morgan Cazenove welcomed the advent of a continuation vote, but cautioned, ‘although in the event that this is not passed, a controlled wind-up would likely take many more years.’ He retained an ‘underperform& Wind-up should have happened long ago - an easy flog of ONT and the rest rolled over into SBO at a rate that suits both parties. SBO becomes more liquid, WPCT/SUPP holders get an exit above s/p. Ah - but then Schroders only get one set of fees/expenses/costs. |
Posted at 17/4/2023 06:29 by spectoacc Can learn a lot about SUPP from just a few lines of the Final Results this morning.One is that the first excuse given for poor NAV performance is the invasion of Ukraine. Second is the continuing blame heaped on the "previous manager". Third is "..Future returns will be driven by the performance of investments made by our Manager..". A couple of juniors, making little or no headway and with little or no track record, investing tiny amounts in the context of the size of SUPP, much of it done near the top of the market. Good luck with that. Top holdings: ONT - 23% (Woodford) Atom - 13% (Woodford) AMO Pharma - 6.8% (Woodford) Reaction Engines (lol) - 5.2% (Woodford) BenevolentAI - 4.9% (Woodford) FW - 4.6% (Woodford) Etc. If the future performance relies on the Schroders Juniors, the discount looks about right. I'd say future performance rests almost entirely on ONT (ATOM looks a potential bust or big dilution, it always needs more cash). Promising to spend 25% of any realisations on buy backs is an interesting approach - they've gone so well so far? Why not return 25% - or 50%, or better, 100% - of realisations via divi to very long-suffering shareholders? A question posed many times - when do WPCT/SUPP shareholders ever see any money back? The 2025 continuation vote looks the only prospect, but difficult to say how much could be realised beyond ONT. |
Posted at 15/4/2023 09:56 by bamboo2 Skyship, I like a bit of number crunching!It does seem odd that Supp NAV is relatively unmoved. There are some possible 'suitors' in the wings. I had thought they might make a move on IPGroup, but guess Supp might also have some attraction. They are Acacia Research, who have Woody as a consultant, and Hambro Perks. Both have significant cash piles to deploy. |
Posted at 14/4/2023 18:41 by bamboo2 Supp holding 23,334,390 ONT shares.23,334,390 x 2.37 = £55,302,504.30 Supp mcap = £118,225,435.18 ONT currently represents 46.78% of the Supp mcap The coming months could see news driven strength drive the ONT sp, which should help support Supp. |
Posted at 06/4/2023 08:17 by spectoacc Ah but they can co-invest in a later funding round with something Schroders are already involved with. ie getting the WPCT mandate didn't just allow Schroders to rip c.£3-4m a year out of the trust, didn't just allow for them appointing Schroders in place of Link as trustee (more fees), didn't just allow for expenses, wages, free publicity. It also allows Schroders to use SUPP to support investee co's they're invested in with other funds.Handy, in this market. Someone - likely City - should have compelled Schroders/SUPP to return cash long ago. The Schroders Juniors shouldn't be getting to play with it like this. Even if their punts are eventually net winners (no evidence so far), how much difference does an $8m punt in a later funding round actually make? Or more to the point - when, ever, do SUPP investors get to see a return? |
Posted at 03/3/2023 18:37 by spectoacc Ha ha he was. Wonder what he's doing now.. Still taking the Shilling at Acacia, "managing" the stuff Link sold them at half price? Couldn't make it up.Been unpleasantly surprised by SUPP: we had a boom bubble market yet they've largely held on to things until the bubble has burst, and now quality PE can be picked up at similar discount to SUPP's. Maybe there's a rabbit in there somewhere. Reaction Engines? But I've no doubt board & Schroders are more than happy to milk the remaining shareholders, year after year, for wages, fees, costs, office space, pension contributions etc. |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Hot Features
Premium
