U And I Share Discussion Threads

[my retirement fund] 11/3/2016 16:39

Sky they are only taking what's being unloaded ....and at a discount to bid hence share price falling !

What concerns me mostly other than the increase in gearing is the majority focus (80% +) on retail.

[skyship] 11/3/2016 16:33

"In the absence of any genuine buyers"! I think Miton Group and Ennismore may disagree with you there...

[my retirement fund] 11/3/2016 16:26

Wow look at this being botted down and down, £1.80 may be brown trousers time for existing holders as the chart has a nasty gap down to £1.50 there after.

In the absence of any genuine buyers (other than a few folk on this thread) I think I am going to backtrack on my temptation and also pass on this for now !

[hpcg] 11/3/2016 16:20

Bought some more. Whilst I accept the falling knife premise, 5% dividend and 70% proce to tangible book are the sort of numbers which begin to show up on screens. Plus this area is reasonably strong support over 2 and a half years.

[scburbs] 11/3/2016 16:17

A few more for me today, too tempting at 184p. Small addition as there may be better chances to add still to come.

[skyship] 11/3/2016 13:45

Interesting to note however that the PE trusts in liquidation mode have not sunk to wider discounts. Not surprising really as opting for liquidation is the most effective Discount Control Mechanism there is!

LMS, MTH & NRI have all traded flat or up over recent months; though of course you have to add back the 7p value of the LMS Tender in December.

[mad foetus] 11/3/2016 09:57

thanks tilts for that on Aviva
I get the feeling thay are really focussing on their multi-asset fund range and may be doing a bit of pruning of their underlying holdings: they have had a guy (Euan someone) join from SLI and I suspect he is rebalancing portfolios.
I own a lot of stuff that has gone out to silly discounts - HSL and PIN are two obvious ones but even Witan's discount, which had been close to zero for a couple of years, has gone to 7%. I think if the markets have another wobble and discounts widen further it may be the best buying opportunity for several years: you could pick up good investments with NAV at a cheap price and discounts at multi-year highs. Easier, as ever, said than done and I can't bring myself to sell PIN with a discount close to 30%.

[stevenlondon3] 11/3/2016 09:55

Is there going to be a cross trade between Blackrock and Ennismore? If that is the case then the latter is happy to see the price drift lower. Added again at 187p.

[tiltonboy] 11/3/2016 09:50

Just a little fearful of markets at the moment, and hoping to have the firepower when an opportunity comes along.

I'm only selling things when I believe they have achieved fair value, and not liquidating holdings for the sake of it.

[badtime] 11/3/2016 09:45

Tilts...u r trying to build up cash reserves..any particular reason?

[skyship] 11/3/2016 09:14

"...happy to see an upward trend start, and miss the bottom."

Quite right - wish I had!

[tiltonboy] 10/3/2016 23:26

There appears to be some indiscriminate dumping of various Investment Trusts, Private Equity plays, and property companies over the last few weeks. Aviva have been attempting to shift a portfolio of investment trusts, but once the market got wind of it, they marked down the prices of their other holdings.

I met with Cannacord analyst Alan Brierley today, and he remains pretty bearish, suggesting that discounts could widen further still, as relative inaction from IT boards exacerbating the problem. There have been some noticable buy-backs from the likes of BTEM, PINR, and IEM, but others seem content to pick up modest amounts on a daily basis which hardly scratch the surface.

I am generally trying to build up cash reserves, but must admit to getting extremely tempted by a few situations, and will probably see if discounts widen further in the short-term.

In the case of UAI I will probably now wait and see if they test the 180p level again, before thinking about committing. I will possibly miss a few, but in these markets, I'm happy to see an upward trend start, and miss the bottom.

[skyship] 10/3/2016 21:42

Hmm - very true - that was about the time I started buying back in!

[speedsgh] 10/3/2016 18:34

Patience, gents. Patience. In the meantime let's not forget the various purchases made by directors/PDMRs (or their connected parties) since 21/10/15:

Matthew Weiner (CEO) has bought 30,500 shares at a cost of £72,058
Richard Upton (Deputy CEO) has bought 69,585 shares at a cost of £162,287
Marcus Shepherd (FD) has bought 50,513 shares at a cost of £119,995
Barry Bennett (NED) has bought 20,000 shares at a cost of £47,400
Peter Williams (NED/Chairman) has bought 50,000 shares at a cost of £115,321

[skyship] 10/3/2016 18:04

CJ - the cheapest offer in the last sell-off to 180p was actually @ 183p - bought by tiltonboy & posted on the old thread I recall.

What will re-float this wreck? Not the Brexit vote; perhaps not even the NAV confirmation; more likely it will be confirmation of the BR exit. They could well turn on a sixpence in the same way SREI did when the Lloyds tap closed. Certainly hope so as at the current share price it has totally wiped out my LSR gain YTD!

[cousin jack] 10/3/2016 17:34

Skyship: I've decided to hold out for closer to 180 as no sign of a turn at present. 228 is my current break even, but it feels a long way off at the moment !

I suspect Brexit poll ( if vote is to remain) will be the catalyst for moving back up rather than any N.A.V. announcement from the company.

Good luck.

[eeza] 10/3/2016 16:11

Lol !!!

Just when you think...........

[spittingbarrel] 10/3/2016 14:50

I'm getting a little bored with averaging down on this share but it's been one of my 'lucky' shares in the past so I'm hoping I don't have to average down yet more.

[skyship] 10/3/2016 11:43

ursus: Clever them - a 100% return on their investment.

CJ: Made my final small top-up at 194.25p yesterday

[ursus] 09/3/2016 22:49

Ennismore shorted Globo to death....

[citymohawk] 09/3/2016 18:54

Thanks spooky - I was keen to understand your post. I'm a simple guy so I think I get what you're saying. "uplift" meaning increase in number of investments made as opposed to the premium on equity paid all those years ago. I think...

regardless... i think i get it.

[skyship] 09/3/2016 17:16

Very interesting seeing that new institution taking 3%. Ennismore European Smaller Cos Fund has a growth rate since the 1999 launch of.....14.9%pa



Reckon they might be a tad cuter than the dumping BlackRock.

[spooky] 09/3/2016 16:50

citymohawk - "prospective realisations of outstanding commitments...", sounds like the sort of thing that you find in dodgy annual reports. I was referring to the uplift in value of PE investments made 5-7 years ago, that will be realised over the next couple of years, will already be discounted in the valuation of listed PE companies. Obviously it may not be fully discounted.

[tiltonboy] 09/3/2016 16:25

Funny watching the algo trades going through every 10 seconds, and every time the bid gets hit another 3840 goes up!