Volta Finance Share Discussion Threads

[yieldsearch] 09/4/2021 10:10

refinancing benefiting the equity: senior tranche of the clo are repaying so the weighted cost of a clo structure is overtime more expensive. also current market pricing of new issuance to be issued at cheaper cost, and cheaper cost for longer term than existing so all this combine means that currently there are opportunities to increase the return of the clo equity.

[hpcg] 09/4/2021 00:27

Well the interim report was a rewarding read. I need to get out a pen and paper to fully get my head around how the refinancing of a CLO benefits the equity tranche. Lots to like anyway.

[hpcg] 01/4/2021 09:26

wolstencroft - not true about IG in their standard Share Dealing account (it is for ISAs, but legally they are all Sterling). On the My IG dashboard open up the menu for the Share Dealing account and go to the "currency conversion" option and change it to "manual".

[wolstencroft] 01/4/2021 08:39

The liquidity on Amsterdam is much higher and it is an order book system (you put in your own bid and offer when buying selling) rather than market maker (where an authorised firm on the stock exchange is offering to buy shares at bid and sell at offer and make a bit of money on the spread to make up for taking the risk of being an intermediary being buyers and sellers) On Amsterdam if the bid/offer is 6.02 to 6.08, say, you could always put in a buy/sell order in the middle (6.05) and wait. I have done this a lot. ii for example allow this. IG share dealing do too and they have better EUR/GBP rates buy they only offer a sterling account, whilst with ii you can hold proceeds from sales in EUR rather having them be converted to GBP.

[stemis] 29/3/2021 08:46

And it seems to work...

[stemis] 28/3/2021 00:09

Peeps may remember my previous comment on not being able to deal VTA in my AJ Bell Youinvest account. I've actually had a reply from them:- Thank you for your email. This particualr stock is listed twice on the London Stock Exchange, onced priced in Euros (VTA) and once priced in GBP (VTAS). Where this happens, as both are the exact same investment, we only offer the sterling priced one to avoid our customers being charged an FX fee unecessarily. So if you’d like to trade this stock please either search for the ticker ‘VTAS’ or the sedol code ‘BFZ4H11’;.

[contrarian joe] 18/3/2021 12:58

Great stuff,thanks hpcg,yieldsearch.

[yieldsearch] 18/3/2021 11:06

Contrarian 6.02/6.08 with central book disclosed showing depth of market https://live.euronext.com/en/product/equities/GG00B1GHHH78-XAMS

[hpcg] 18/3/2021 10:31

contrarian - on Amsterdam the spread is tight but the price tends to be higher, so you pay's your money etc. Liquidity is worth it though and any top ups I make will be made over there, and I'll sell my LSE holdings first when the time approaches.

[contrarian joe] 18/3/2021 09:48

Held these for quite a few years & have tried to top up on numerous occasions only to find the spread awful (5%).How many of you guys have had the same issues!!,also having the option of having divis paid in either Euros or sterling via registrars,my views are convert when sterling weak,would appreciate views on this.

[stemis] 17/3/2021 17:39

That's why I said 'test'...

[hpcg] 17/3/2021 17:19

CWA1 - the tests are a bit risible really. Not, "Explain in 500 words CLO tranches and the relative risk?", more "Do you understand these are high risk instruments and you might lose more than you invest yes / no?". Anyhoo, today's dividend announcement demonstrating the value on offer in the Autumn. Still good value.

[cwa1] 17/3/2021 16:50

Must confess I found Barclays the worst broker ever when I used them. Loads of stocks I couldn't buy, late dividends, clunky website. However it was aeons ago but it doesn't sound if they are much better

[cerrito] 17/3/2021 16:24

I cannot buy VTA on Barclays and I have to use my full service broker, Canaccord

[cwa1] 17/3/2021 16:09

Oh. There's a test. No wonder I'm not allowed to trade :-)

[stemis] 17/3/2021 15:50

Indeed. It's possible to deal with EQI and I've also passed Youinvest's little 'test' for dealing with complex instruments...

[skyship] 17/3/2021 15:36

Ahh - could be that. But why the hell are they deciding whether or not someone is professional enough to know what they are doing? Surely it is not up to AJBell; it is up to the individual concerned to state that they have the knowledge to make their own investment decisions. I'm pretty sure all of us here on this thread would qualify to buy/hold VTA.

[cwa1] 17/3/2021 15:31

FWIW, I can't deal in VTA in my YouInvest SIPP account, I get this message when I go to get a quote:- This security is restricted from dealing ...I think that anyone that is already a holder can buy or sell but you can't take a new position out with them I suspect

[skyship] 17/3/2021 15:04

SteMis - Bizarre - as I topped up my VTA holding this morning - dealt in my YouInvest SIPP.

[hpcg] 17/3/2021 14:37

SteMis - does Youinvest deal on Amsterdam? The advantage of that listing is it is much more liquid. The only account that I have that deals is IG. In London not only does it trade on the specialist funds market, but there is also the requirement to demonstrate you understand CLOs if not a professional.

[stemis] 17/3/2021 12:37

Youinvest won't deal VTA. I've emailed to ask why...

[skyship] 17/3/2021 08:32

More excellent, if predictable, news. The Qtly divi increased from 12c to 14c. At 610c the discount is currently 12.9% and the yield back up to 9.2% I've today bought back the 2000 I top-sliced lower down! ======================================================= Volta Finance Limited ("the Company") hereby announces a first interim dividend for the financial year commencing 1 August 2020. The Company announces that it has declared a quarterly interim dividend of EUR0.14 per share payable on 29 April 2021 amounting to approximately EUR5.12 million, equating approximately to an annualised 8% of net asset value. The ex-dividend date is 1 April 2021 with a record date of 6 April 2021.

[skyship] 16/3/2021 09:13

Extract from last Wednesday's monthly Update: This combination of advantageous factors for our CLO Equity positions, which account now for a total of 65% of the NAV means that the outlook for 2021 and beyond is favorable for Volta. We are still optimistic that the NAV can reach EUR7.50 per share in the medium term. This, combined with an estimated dividend close to 8% of NAV represents an attractive return stream, especially when considering the discount to NAV at which the shares are still trading. As at the end of February 2021, Volta's NAV was EUR256.1m or EUR7.00 per share.

[yieldsearch] 16/3/2021 07:29

https://www.bloomberg.com/news/articles/2021-03-12/structured-weekly-clo-spreads-nearing-post-crisis-tightsImproved credit market and also increased demand for floating rate bonds: Good technicals for clo

[cerrito] 11/3/2021 18:44

Thanks for that davebowler and all very reassuring and I liked the quiet confidence in the VTA update that we had today. Floating rate assets are in demand- indeed as we haver seen in the price of little old CEBB.