Tetragon Financial Share Discussion Threads

[hpcg] 31/7/2019 09:42

Yes, nice to see.

[skyship] 31/7/2019 07:23

Divi continues to creep up; and a very good Q2 rise in the NAV - up 1.6% to $23.94

[topvest] 29/7/2019 20:20

An IPO of the asset management business, hopefully through a demerger, is a prize worth waiting for. This has been on the cards for a while, but they need to get the timing right I guess.

[skyship] 29/7/2019 16:14

Tilts - "a strike below the SP"....of course, very recently, but had forgotten!

Agreed, a demerger or a sale of some parts would be a great help.

[topvest] 29/7/2019 15:05

I had to buy these by telephone. They won't allow internet trades on SFM shares at Charles Stanley and most brokers. You have to pay twice the fee and sign a disclaimer. All a bit silly. The Specialist Fund Market is much lower risk than virtually everything on AIM, but that's the stupid world we live in. SFM is restricted to professional investors. I knew this anyway from previous purchases and prefer not to hold SFM shares unless there is a strong buy case. Hold Supermarket REIT Income and Tetragon Financial at the moment, along with JZ Capital and Catco, albeit wish I didn't hold the latter two!

[tiltonboy] 29/7/2019 12:25

SKYSHIP,

Demerging the Asset Management side would be the best route.

The last Tender offer produced a strike below the share price Why pay-up if you can get the stock back cheap.

[skyship] 29/7/2019 11:40

TV - as a matter of interest, did you trade online or over the phone with your broker?

[skyship] 29/7/2019 11:38

Three ways they could reduce the bizarre discount:

# Make a TENDER OFFER at, say, $14

# Enter a serious Buyback scheme at, say, 25% discount

# Write down the portfolio valuation!

EDIT: Wrong - 4 ways:

# Make a serious increase in the massively covered dividend. The yield is only good here because the share price is so low. There is very little benefit to shareholders if the net income is used merely to further accrue the NAV.

[skyship] 29/7/2019 11:29

I've tried to top-up today; but unable to get an online quote!

[topvest] 29/7/2019 10:48

Thanks - purchased a few today to start a position here. Hopefully, good timing ahead of Wednesday's update but time will tell.

[topvest] 29/7/2019 08:47

OK, thanks. Do you receive dividends in £?

[rcturner2] 29/7/2019 07:29

It is just to make things easier for buyers of the shares. Princess PE (PEY and PEYS) has exactly the same arrangement.

[topvest] 28/7/2019 21:52

A quick question - what's the reason for having a £ and US$ (TFGS and TFG) share quote and do you need a currency election in place to receive dividends in £ for TFGS shares? All a bit opaque as they are all US$ denominated shares in the annual report.

[skyship] 17/7/2019 07:18

Tetragon Financial Group Limited Investor Call on 31 July 2019

LONDON, July 17, 2019 -- Tetragon will host a conference call for investors on
Wednesday, 31 July 2019 at 15:30 GMT / 10:30 EST to discuss its half-yearly
report and to provide a company update.

etcetcetc - see Header

[skyship] 16/7/2019 14:05

Being squeezed between 1240/1250...likely to break to the upside...target 1380, ie 10% upside; and could well be short-term:


free stock charts from uk.advfn.com

[spectoacc] 16/7/2019 13:52

Not sure about that - $12.50/£10.10 seem the same to me? Assets are mainly in $. Exchange rates are a random walk, to all intents & purposes. Pound going a lot lower if/when we crash out of the EU. Can't see any rationale for selling TFGS to buy TFG.

[spangle93] 16/7/2019 11:56

Looking at the difference between TFG and TFGS, it seems former from the graphs above peaked in March, but that the latter continues to rise, benefitting from the decline in Sterling, so if (as it the case for me) your provider only offers TFGS, your currency exchange risk is quite high just now

[davebowler] 11/7/2019 14:59

Sky, don't mention the word 'Patient'!

[tiltonboy] 11/7/2019 14:34

Interims in three weeks.

[skyship] 11/7/2019 14:24

1.56m trade @ $12.50...might this be the catalyst for some action in the sp, lying coyly down on a 47% NAV discount!

[skyship] 28/5/2019 11:23

alpal - to my mind what does give the unquoted portfolio some certainty, is the very real fact that TFG is the 5th largest holding (5.4%) in the BTEM portfolio!

[alpal2] 28/5/2019 11:12

Sky: Would be nice for Equitix to list as this would give some certainty on validity of values of all unquoted asset values in the gross NAV.

[hpcg] 28/5/2019 10:26

I do remember not being patient with PINR, and those that were getting a very nice result. It's a much easier hold here as there is a more than sufficient coupon.

[skyship] 27/5/2019 15:37

alpal - with their historic performance of double digit gains, it is indeed strange to see the very high discount (47%) persevere as it does; especially when we also enjoy a good dividend whilst we wait for the discount to close.

I can only assume that it is the doubt over the valuation of TFG Asset Management. Though by all accounts AUM are growing and an IPO would surely provide a valuation uplift.

So, just rest assured that you are doing the right thing. Be patient and VALUE will out - eventually!