PIE-EATER
23 Jul 2015
Re: Back on Track Don't hold your breath!When was the last time AIF had a discount of 20%? I am not even sure that it did when John McClure passed away and smaller caps were being sold off at the same time
PIE-EATER
23 Jul 2015
Re: Better options? EAT and JEO are my 2 long term holdings....Threadneedle Euro select is interesting as a fund. Lok carefully at JEO just to be sure you know what you are getting. It can hold UK companies, I think there is still a performance fee but Alex Darwell has one helluvalot of skin in that one....last time I checked £16m plus?Don't rule out funds..they do have their place. Sometimes they are the only way to access a particular manager and sometimes the only realistic way to access an asset class. While the majority of my holdings are ITs, I do hold funds and some individual equitiesPE
alioua
22 Jul 2015
Re: Better options? i have been watching eat but the share price does nt seem to budge but i'd like to hear your views and youre right about europs being ripe now
trivaskus
22 Jul 2015
Re: Back on Track It never was, but STB is Its a bit below the £30 I sold them for but stilt looking safe. I don't regard that as risky 'cherry picking'Will be buying AIF again if the discount to NAV returns to 20%
texasslim
22 Jul 2015
Re: Better options? Interesting..i like the idea of management having a vested interest and I've used this to my advantage in the past. I don't do funds though.At the risk of getting off topic, do you hold a european smaller companies fund? I hold EAT but thinking of adding another (JEO?) given the prospects for QE fuelled growth.
PIE-EATER
22 Jul 2015
Re: Better options? I can see where you are coming from.....but for me JMF is a bit volatile. SCP should have done better, but hasn't really. I am currently holding 3 FUNDS because of the quality of the managers and they don't manage ITs...Royal London and Neptune Mid Caps, as I haven't been able to split them for a while now, and Miton UK Value as I think George Godber and Georgina Hamilton are prepared to take strong positions and apparently have significant personal holdings so aligning their interests with ours.
texasslim
22 Jul 2015
Re: Better options? I've held SDV as well but chose to sell it and keep AIF..time will tell if that was the correct decision but wanted to reduce exposure to UK small caps.One fund I've been looking at recently is JMF - mid caps which might do well as the UK economy picks up.
PIE-EATER
22 Jul 2015
Better options? Given that Trivascus indicated there were better options and that we were directed to the AIF reports, it IS worth noting that on a risk / volatility basis, there is very little to actually compare with AIF with respect to other trusts....as indicated by the graphs given.....perhaps SDV (which I also hold) bears comparison....as does FGT in the larger cap segment.The prospect of cherry picking one or two shares from a selection chosen from the managers, is in my humble opinion (and stated previously by texasslim) a dramatic increase in risk. Yes there are potential rewards but how does that risk / reward profile sit with the average potential holder of AIF?PE
PIE-EATER
22 Jul 2015
Re: Back on Track and also note that epwn is no longer one of the top holdings, indicating it has either been sold down or disposed of.......
texasslim
22 Jul 2015
Re: Back on Track Worth noting that by going this route you'd increasing your risk significantly especially if you invest the same amount in a single company as you would do in a pooled fund like an IT.
trivaskus
22 Jul 2015
Re: Back on Track visited [link] and found EPWN now up 40% I have often found it better to buy some of the shares they hold directly rather than invest more in the fund.Best result to date STB 163% return
alioua
21 Jul 2015
Re: Back on Track where?
trivaskus
21 Jul 2015
Re: Back on Track I'm sat on a gain of 85% so for me there are better upside opportunities elsewhere. Should this fund be wound up in the near future there is now not a big difference between Nav and share price
PIE-EATER
21 Jul 2015
Re: Back on Track Alloua,People have differing timescales and expectations. My interpretation of your query and possible actions of others might look like this....For my part, it was a buy 6-8 months ago as I thought both the discount was too wide and the NAV was depressed because the underlying holdings had been marked down too heavily (the market tends to overshoot in both directions) I genuinely believed that a "correction" to 340-350p was realistic. Both long and short term holders would see the benefit, so buy.I am a long term holder and see this as approaching fair value at the minute, with the possibility (as always) of a pull back over the summer - approx June to end Sept. I am not good enough to trade 10-20p either way and as I am in for the long term it is a hold.Others may have previously bought at higher levels than me and so selling may be an option to lock in a small profit if they are not as convinced about future prospects as me. The top slicing query was, effectively, a half way house to hedge bets.Obviously happy to accept corrections from other players if my loose interpretation is incorrect.Hope that helps PE
PIE-EATER
21 Jul 2015
Re: Back on Track Sorry Triv, I missed the point.....
