Uncle Doug
24 Feb 2015
Re: Highly commended: Acorn Income Fund Triv,98p??? How long ago was that ? I like your positivity about the past, but MFI, HMV and Woolworths all did well in the past ... All I'm saying is that lately performance has tanked big time against it's Numis small companies index and against the FTSE Smallcap. As you say, one needs to be ready to bail ... but being trapped in at a huge 16% discount to NAV is a big disincentive to bail out. So, sp tanking, 200 day Moving Average trending down last 6 months and discount widening. I'd be happy to be proved wrong but I can't see any green shoots in this situation at all. And all this set against the FTSE recently hitting a 15 year high.
Uncle Doug
24 Feb 2015
Re: Highly commended: Acorn Income Fund PEThanks for that more recent info - I will read it and make my judgments.the way - you never said what you mean by SLS.
trivaskus
24 Feb 2015
Re: Highly commended: Acorn Income Fund Discounting all the exception activity of last year then this share is no more volatile than the stock market itself and a dividend payment more secure. But, like you say, you need to be ready to bail out if the market starts to fall to maximise capital gains and rebuy at a later date when things start to recover (as I've done in the past) However friends and family who bought on my advice at 98p don't want the hassle, unless there is a serious crash looming, and are quite happy to keep collecting the dividend.
PIE-EATER
23 Feb 2015
Re: Highly commended: Acorn Income Fund Not really bothered ......I am happy to hold in SIPP, ISA and sons ISA.....ALL FOR THE LONG TERM as that is how this trust works. It IS volatile, so probably only suitable for people with time on their side and who's investment style isn't impetuous. I wouldn't have it as my only holding, nor even my only AIM / small cap fund.....but as a satellite, now that's a different matter.PE
trivaskus
23 Feb 2015
Re: Highly commended: Acorn Income Fund Thanks PIE-EATER - very encouraging, expresses my sentiments exactly, I hope Uncle Doug finally gets the massage!
PIE-EATER
23 Feb 2015
Re: Highly commended: Acorn Income Fund Perhaps something more recent?[link] if you don't rate this trust you can always sell.......no-one has to hold, or indeed buy more.PE
trivaskus
23 Feb 2015
Re: Highly commended: Acorn Income Fund That post was for the benefit of others who might be contemplating buying into AIF.AIF news May 2013 - Acorn Income Fund is aiming to raise up to £30m though a placing and offer for subscription for up to 7 million new ordinary shares at £3.00 each, I never took this offer up as the NAV was 290p, however a lot of people obviously did and I believe this is why the share price and NAV spiked.Anyway no matter, the NAV is back somewhere near its peak and my 1K worth of shares purchase recently have already added £100 to my profits.
Uncle Doug
22 Feb 2015
Re: Highly commended: Acorn Income Fund Why are you posting 7 month old news of this fund before they divebombed?
trivaskus
22 Feb 2015
Re: Strong buy For those of us who are investing for income and capital gain the NAV is more of an indicator of how well this fund is doing than the share price. Had the increase in dividend (38.675k per quarter) not been paid out then the NAV would be somewhere near its peak. The fact that the share price is lagging 19% behind the NAV is a buying opportunity and not a reason to worry to sell! As for your comments about the volatility of this share then you need to check the dictionary definition!. I've been following a volatile share, it went from + 5% to - 3% to +2% in the same day - that's volatility!
trivaskus
21 Feb 2015
Re: Strong buy Uncle Doug -The highest NAV I can find is 377p, at that time the shares were around 384p to buy, if you are concerned that the current NAV of 351.7p is 10% lower than its maximum then I suggest you sell your holding and relax. I'm holding for income and potential capital gain of 60% (even after buying 1k recently)
trivaskus
21 Feb 2015
Highly commended: Acorn Income Fund Highly commended: Acorn Income Fund - 14-07-2014The geared ordinary shares of Acorn Income Fund (AIF) achieved a NAV total return of 97.7% over the past three years, and share price total returns of 141.5%. It won this award last year, but could not match Aberforth Geared Income's returns over the past year.They are similar trusts in that Acorn Income invests primarily in well-managed, smaller UK companies, is around 40% geared by zero dividend preference shares, and aims for a high yield plus growth of income and capital.However, it differs in two important aspects. First, its equity portfolio is more concentrated (40 holdings) and includes a lot of AIM-quoted holdings. Second, at least 20% of its assets are invested in an "income portfolio" of fixed-interest securities and higher-yield investment trust shares.
fliboy
21 Feb 2015
Re: Strong buy Hmm interesting. Can I ask how you know that Acorn is losing investors?
fliboy
21 Feb 2015
Re: Strong buy I don't follow. Surely the market sets the price, and currently this is trading at a discount of around 16% to the NAV (total value of the individual holdings). I can only think that this is because the proportion of bonds in the portfolio (about 30%) makes it less liquid that its immediate competitors.
Uncle Doug
21 Feb 2015
Re: Strong buy pie eaterI dont know what you mean by SLS. I used the FTSE as most people are familiar with the FTSE 100 index. The SmallCap index has pretty much follwed the FTSE give or take 2%, so the camparison is valid. Even taking the SmallCap index as a comparator the results for Acorn are just as atrocious. Over 1 year:SmallCap down 0.76%Acorn (AIF) down 19.75%3months/6months or even 2 years - SAME STORY. Acorn's stock picking skills have to be questioned and I am certainly not relaxed about it.
PIE-EATER
20 Feb 2015
Re: Strong buy Why do you keep quoting FTSE when majority of holdings are small cap?Look at small cap return in general has been atrociousHow about comparing apples with apples? How has SLS. Done for example?I have held this for quite some time and John's untimely death was obviously a MAJOR shock, but there is only one other group I am putting money with in this cap range at the moment and that is River & Mercantile because of the recent change in personnel over the last year.I have my money where my mouth is.....and I am relaxed about it - but it will take time because of the cap range involvedPE
