Damp Seaweed
26 Nov 2015
RNS - net assets They seem to have been in a hurry to get this 'information' out I wasn't expecting it until Dec. On the face of it, I should be reassured but somehow I'm not.But until they start producing some return on their platform investments, then I guess the NAV is all we have to support the share price.
Damp Seaweed
19 Nov 2015
Re: Edison Research It's not a good idea to read just selective extracts. you need to read the whole report or not bother.Incidentally Panmure Gordon have retained their buy rating with a target price of 71
mr5percent
19 Nov 2015
Re: Edison Research In case you didnt read it - an extractGLI’s shares yield 10%, a premium over the listed alternative finance loan funds,which may reflect concerns over the sustainability of its dividend. If management'splans to cover the dividend are realised, these concerns could dissipate and itsdividend yield move towards that of the loan funds. In addition, there is the prospectof capital gains from its platform investments to boost investor returns.
mr5percent
19 Nov 2015
Investors Chronicle Simon ThompsonAim-traded GLI Finance (GLIF: 45.25p), a speciality finance company that invests in peer-to-peer and small and medium-sized enterprise (SME) lending platforms in the UK, Europe and the US, has issued a trading update ahead of a revaluation of its investments in mid-December.So although GLI Finance's shares have drifted back this year, I still believe the odds favour a positive outcome. Trading 12 per cent below net asset value of 51.5p, I remain a buyer at 45.25p as the upside potential of the portfolio of P2P investments is being attributed no value whatsoever in the current share price. That's very harsh.Obviously even harsher today.
Damp Seaweed
19 Nov 2015
Re: Edison Research Alternatively if you can't be bothered to read the research then just follow the share price... that will probably tell you all you need to know I reduced my holding by 50% this morning, just regretting not dumping the lot !
Damp Seaweed
19 Nov 2015
Edison Research If you go onto the company website you will find quite a balanced research note from Edison. It is well worth a read.It is dated very recentlyI need to read it again to consolidate my view.
badnews
18 Nov 2015
Re: GLIF and GLAF Courtier1,Wow, you sound like you've read a GLIF report and actually believed it. Allow me to wake you up from your daydream.Indeed GLIF have made an attempt to diversify their revenues and spread the risk of the company, but it hasn't worked. Hardly anybody wanted to invest in the GLAF fund, so GLIF owns 76 per cent of the fund. Let me explain it to you in simple terms - if I pay myself 1 million pounds to clean my own car, would I be making a 1 million profit?Shifting capital around won't conjure up a profit, I'm afraid, but what will happen is that time will run out. Scrip Dividends, Raising capital for it to only be one's own capital, exercising arbitrary will to value companies how you see fit, are all great magic tricks, but eventually the magician will become unstuck.1.5 mil in volume today, mostly from people who don't believe in magic.BN
Courtier1
18 Nov 2015
Re: GLIF and GLAF No - GLAF has been on the cards for a long time. What management worked out is that they have a great opportunity to stop just using shareholder money for loans and to attract direct investment at a management fee. They do this using a fund that needs to be a separate entity. Then they raise money just like P2P Global Investment, but this could be several hundred million of AUM over time.So lets say they raise £400m - they get 0.75% on first £100m & 0.5% thereafter so GLIF gets paid £2.25m for managing the fund. Then they received dividends on their holdings, which pays shareholders.The benefit though is magnified as the £400m loan portfolio is managed using the platforms that GLIF part owns thus creating more value in their direct investments.Rather than window dressing it is basically allowing them to attract more funds, dilute impact of any bad debts across a larger portfolio, and drive business to their owned platforms ultimately increasing NAV.It is a long term game though (3-5 years I'd guess at) and clearly that doesn't suit everyone but they pay 11% yield at current price. Currently trading 20% below net asset value 30/9 of around £110m judging by trading statement. So they need to generate £10m p/a to service dividend, which on £110m is 9% net return. Looks like they are getting approx 8% so even a £1m asset mgmt income should boost this such that they broadly cover dividend with earnings.Then ultimately it becomes a question of what these peer to peer platforms become worth for any upside above 50p. Be interesting to see whether any of their platforms are adjusted upwards in official NAV they refer to.
Damp Seaweed
17 Nov 2015
Re: GLIF and GLAF It's a way of sorting the wheat from the chaff. Unfortunately the chaff is a missed opportunity it is looking pretty dire and needs refinancing, whilst the wheat needs a lot of attention and more finance to grow.I could be total wrong, but the interim results look at a poor attempt at polishing up a lacklustre performance.
HawaiianB
16 Nov 2015
GLIF and GLAF Anybody understand why GLAF was created?Is this affecting GLIF?ThanksHB
Dingledangle
07 Oct 2015
Re: Fair value 80p I have invested in NCYF but as you have suggested that, other Funds to consider might be renewables infrastructure TRIG at 6%, and Target Healthcare REIT THRL at 6.6%I hold both and they have been pretty stead income payers.Please research thoroughly though. I am generally a bad stock picker.
Krayl
07 Oct 2015
Re: Fair value 80p That's gone too low now. I have sold all my holding and have only just covered the capital loss with the dividend paid over the last eighteen months. Should have sold a while ago.Dingle - what have you chosen to reinvest in? There is a similar thread going on the NCYF board. I will add my bit when I have finished my research.
Dingledangle
05 Oct 2015
Re: Fair value 80p I have trimmed my holding and accept a less risky 7% elsewhere rather than 10% here. The numbers look good from the interims but not reflected in sp.
Krayl
05 Oct 2015
Re: Fair value 80p This downward trend has to be reversed quickly or I am selling
badnews
05 Oct 2015
Re: Fair value 80p The guy at Investors Chronicle is doing the same thing as the GLI board - fabricating value. Believe me, as a shareholder I don't wish to be a cynic, but until I see less talk and some actual results worth getting excited about, I'm going to keep making posts based on reality.
