alandwd
08 Jan 2017
Re: subscription shares Another way to use the subscription shares is to keep a stake in the trust and sell some of your holding. Due to the discount falling to 5% (as it did on Friday), I sold a similar stake in this to the amount of subscription shares I received. Fidelty Japanese is currently on an 18% discount and feels like a much better deal to me.
alandwd
04 Jan 2017
Discount down to 8.4% I suspect due to investors noticing the superb performance of the past year. Not time to cash out, but if it moves closer towards par I'd consider exiting some. The Indian market did exceptionally well following the decision to scrap the banknotes (not that I agree with it, but can't anything about it other than follow the trend)
alandwd
17 Dec 2016
Re: subscription shares Yes, you can sell them like an ordinary share, however it often pays to hold on to them as the bid/offer spreads can be huge.As an example I just exercised the right to buy JPMorgan Japan Smaller trust shares at 243p, when the real share price is 295p, so these subscription shares can grow to have a real value. Other times they can expire worthless. You must keep an eye on when to exercise them versus the actual share price at the time though.
Peter the Red
16 Dec 2016
Re: subscription shares "From what I've read they give me the right to buy more ordinary shares at some point in the future at a discount, is that correct?"Nope. They give you the right (but not the obligation) to buy shares at extra cost, at 3 points in the future:-The price in November 2017 will be 370.75p per share.The price in November 2018 will be 381.75p per share.The price in November 2019 will be 392.75p per share."Can I just sell them online like a normal share ?"Yep. Today's selling price is about 22p and buying price is about 26p.So how come the subscription share have value if they only entitle you to pay extra for the shares?The answer is - the shares in future may have a higher value than today. Who knows?
jsan22
16 Dec 2016
subscription shares FAS seems to have issued me with a few quids worth of subscription shares.I must admit, I don't really get the concept. From what I've read they give me the right to buy more ordinary shares at some point in the future at a discount, is that correct?Can I just sell them online like a normal share ?Any advice gratefully received.
alandwd
31 Jul 2016
Re: interested Oops, silly me not rechecking trustnet. Yes, seems the new manager has drastically repositioned the portfolio. Well, performance has been good and discount is down to 10%. Maybe this is now one to watch for discount narrowing with popularity?
jsan22
25 Jul 2016
Re: interested thanks for your comment I bought in a few months ago along with pacific assets trust and couldn't be happier.But the new manager of FAS is overweight India not China as far as I can see. From what I've read he tends to favour the mid to small sectors as well.Might well top up on this and the other one. Also have bought Fundsmith Em mkts as a steady eddie to keep for a few years.
alandwd
24 Jul 2016
Re: interested This is not an extravagant discount for this trust, I've seen it drift between 4 and 20 (which was a good deal). I like this one, the manager seems to prefer china and underweight India, been investing monthly since the 1990s and no intention of stopping.
jsan22
05 Apr 2016
interested looking at buying some of this and Pacific Assets Trust. Any idea why this should be on a 13.5% discount?
