Share Name Share Symbol Market Type Share ISIN Share Description
Zero Dividend Recovery Fund Limited LSE:ZDR London Ordinary Share GB0031458788 ORD 25P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p - - - - - - - - -
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Unknown - - - - 0.00

Zero Dividend Recovery Fund Share Discussion Threads

Showing 26 to 50 of 50 messages
Chat Pages: 2  1
I wonder what Brookdale's intentions are now that they have 24.9% of the votes. Perhaps they are going to oppose the wind up? regards linhur
Liquidation proposals out. Distribution expected to be 57.1p in May. Disappointed as I expected minimum of 59p.Not much alternative to accept the poor proposals. Would have been better merging with another fund. regards linhur
A larger gap between nav and offer the last few weeks.Got hold of a few a couple of weeks ago.The only downside is no redemption date and when all the zeros are cashed the board decide to change the mandate. regards linhur
still moving up
Nobody interested in this anymore?
Final results today... "Although the current level of the Company's own gearing is lower than in the past, the underlying gearing within the Company's investments remains significant with the potential to generate substantial capital appreciation for shareholders in the longer term. However, there remain considerable uncertainties in the markets and shareholders should remember that gearing works both ways; amplifying both market rises and market falls. Consequently, as I said in my Interim Statement, the Company's Ordinary Shares remain, as they always have been, investments of above average risk.
the cats got plenty of life in it yet... 26.0 - 28.0 RNS Number:7857L Zero Dividend Recovery Fund Limited 02 June 2003 The Company today announces that the estimated Net Asset Value per Ordinary Share based on mid market prices as at 30 May 2003 was 34.84 pence.
25.0 - 29.0 breakout ?... reistance @ 30 ?
IMO, looks like a 4th wave RALLY (dead cat bounce) before the emergence of new selling (with a prospectiev decline in the US market)
24.0 - 28.0 up a penny today, recovering fast
the investments have gearing, so you may want to "overhedge"... But be careful
If the fund has no gearing ofcourse H
Buy and Short FTSE... makes good sense with FTSE near 4000
Shareprice recovering from recent lows. Now 22 - 26 Latest rns.. RNS Number:1519K Zero Dividend Recovery Fund Limited 17 April 2003 The Company today announces that the estimated Net Asset Value per Ordinary Share based on mid market prices as at 16 April 2003 was 29.64 pence
RNS Number:4033G Zero Dividend Recovery Fund Limited 20 January 2003 Following a sale of 225,000 shares on 17 January 2003 the Company has been informed that Aviva Plc is interested in is 700,000 shares representing 5.83% of the issued share capital of the Company. Not many left now !!
RNS Number:2664G Zero Dividend Recovery Fund Limited 16 January 2003 Following a purchase of 250,000 shares on 15 January 2003 the Company has been informed that Premier Recovery Trust Plc is interested in is 1,936,250 shares representing 16.14% of the issued share capital of the Company. It looks like Premier are building up quite a stake, which is just as well as there are still distressed sellers about, including .... "Following a sale of 250,000 shares on 10 January 2003 the Company has been informed that Aviva Plc is interested in is 925,000 shares representing 7.71% of the issued share capital of the Company."
All quiet, price pretty static, not many trades. latest news :- RNS Number:9182F Zero Dividend Recovery Fund Limited 08 January 2003 Following a purchase of 250,000 shares on 7 January 2003 the Company has been informed that Premier Recovery Trust Plc is interested in is 1,436,250 shares representing 11.97% of the issued share capital of the Company.
energyi, could you email me at, I'd like to contact you about something. (will be tomorrow as I'm off out now)
Debt fears haunt popular funds Expensive long-term loans make trusts poor value By Steve Johnson, 16:18 GMT Dec 13, 2002 LONDON ( - High levels of expensive debt are threatening to cause steep losses in a so far untroubled sector of the beleaguered investment trust industry. Hot on the heels of the split cap fiasco, concern is growing that many large and popular trusts are being crippled by costly long-term debt taken on in the boom years. While the debt problem is unlikely to cause any trusts to collapse, it will create a significant drag on the future performance of many leading funds. The problem is most acute in the UK Growth & Income sector, where there are already concerns that many trusts are trading on unsustainably low discounts as investors chase yield, while discounts are at or near historic highs in sectors such as small companies and TMTs. "At some time these funds have got to go to horrific discounts because they are just not worth it," says Paul Locke, investment trust analyst at HSBC. "It doesn't matter what the market does, you will lose money in them." Timebomb The ticking timebomb yet to explode is that of debt, which trusts routinely take on board to 'gear' their exposure to the market. Much of this was taken out in the 1990s, when the bull market was in full swing and interest rates were considerably higher than today. For example, the £430m Merchants Trust [MRCH, News, Chart, Research] had £112m of debt at the end of last year, including a stepped loan with an effective interest rate of 11.28 per cent per annum until 2018. Published figures show it trading on a premium to net asset value (NAV) of 1.5 per cent. But taking into account the cost of servicing the debt (the differential between what Merchants has to pay and the current market rate for debt of that size) HSBC calculates the true premium at a wildly unsustainable 8.6 per cent. Over-priced? Cazenove, which calculated how much it would cost Merchants to repay the debt now and run a 'clean' portfolio, puts the premium at a staggering 10.5 per cent. Dunedin Income & Growth [DIG, News, Chart, Research], a £350m trust, goes from a discount to NAV of 6.5 per cent to a premium of 2.8 per cent under the HSBC measure. Henderson Global Investors' £435m City of London trust [CTY, News, Chart, Research] goes from a premium of 1.6 per cent to 5.8 per cent. The Securities Trust of Scotland [STS, News, Chart, Research] is judged by HSBC to be on a debt-adjusted discount of just 0.9 per cent, against the published 7.9 per cent, and Investec's Temple Bar [TMPL, News, Chart, Research] sees its premium rise from 6 per cent to 9.2 per cent under the measure. This is no academic exercise. These debt-adjusted measures reflect the fact that these trusts will have to use a significant slice of future returns to service their debt. Constrained growth "If we see market returns of 8 to 10 per cent a year over the next three years, you can't expect to see much in the way of capital growth," says Mick Gilligan of independent financial adviser Killik & Co. "I have most concern over Dunedin and Merchants." Simon White, spokesman for Dresdner RCM, which counts Merchants among its stable of trusts, accepts the validity of the analysis, but adds: "Gearing has proved very beneficial to Merchants' shareholders. We are finding quite a lot of shares that are yielding more than 6.5 per cent, more than the average cost of our debt." Mr Gilligan's advice is to check the debt arrangements of trusts before buying. Furthermore, this analysis adds to the argument that existing investors in the UK Growth & Income sector should consider switching some of their holdings into Generalist or Small Cap trusts trading at much wider discounts, or UK Equity Income unit trusts, which always trade at NAV :LINK:
Hi Skyship, the two zeros you asked me about were (actually as in original post):- LIUZ - LeggMason Investors International Utilities ZDP EURZ - European Growth & Income ZDP Maybe you meant to aks the epic for news (i.e the main trust that includes the ZDP). If so they are:- LIU & EURC FYI, EUR are managed by Aberdeen.
mad mike
BUY AND HEDGE? By shorting FTSE maybe?
Up a half now 24 - 28 RNS Number:8219E Zero Dividend Recovery Fund Limited 09 December 2002 Following a purchase of 500,000 shares on 2 December 2002 the Company has been informed that Premier Recovery Trust Plc is interested in is 1,186,250 shares representing 9.89% of the issued share capital of the Company.
mad mike - your list certainly strays from the accepted path of value ZDPs. Need to research a couple, so can you tell me either who manages EURI, or have they changed their name. Also your LeggMason trust seems to mix up two names, so which one do you think is worthy of a further look: LMI Euro Utilities, or LMI International. JOVZ could certainly offer a good return now that it has emerged from the deathly clutches of Aberdeen. however, I gather it could be another two weeks before we get confirmation of the NAV and portfolio. DNIZ is in the same situation. We are seeing a bout of profit-taking in the Zeros this week (esp. today); and in my view this could offer another entry opportunity for some that raced ahead too fast.
heh curry... like this one and made money out of this action a long time ago.... watch the NAV carefully as it really is a give away of sentiment. I would trade the NAV and not chase the price... I think you figured that one. People dont like Maths as mad mike says watch the hurdle...
i think you will find this info is not for zdr, is it for another?
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