This is the latest article from our contributor Reg Hoare, who has worked for 40 years in the City, initially in investment banking and the securities business, latterly as managing director of MHP Communications. He has been investing in investment trusts as a private investor for more than three decades. Here he looks back on the performance of his holdings in the first quarter of 2024.
Reg Hoare A bit of a damp squib After the promise of Q4 last year, Q1 2024 turned out to be a bit of a damp squib for my SIPP’s performance. There were plenty of decent bright spots as my thesis on a number ...
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This is the latest article from our contributor Reg Hoare, who has worked for 40 years in the City, initially in investment banking and the securities business, latterly as managing director of MHP Communications. He has been investing in investment trusts as a private investor for more than three decades. Here he looks back on the performance of his holdings in 2023 and ahead to this year.
Reg Hoare 2023 performance When the market (FTSE100) retraced its 2023 lows in late October, it was all looking pretty depressing. My usually half glass full sentiment was running dangerously low and bei...
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The analysts at broker Stifel made a good point this week about the differential in discount rates that's opened up between alternative assets trusts and plain vanilla equity ones. Whereas until two years ago the ratings on alternatives were generally superior, and often traded at premiums, while equity trusts were less handsomely rated, the reverse is now the case. Has this switchback gone too far?
Discount opportunities continued The story of the past 18 months is neatly captured in the chart that Stifel uses and which I could have readily replicated from other sources. You can see that di...
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I have updated the list of large and liquid trusts that I think look to have good risk/reward potential on the basis of their current discounts and added a comment about this week's interesting announcement from the board of Hipgnosis Songs Fund (SONG), one of the 15 names. If as appears likely we are close to the current peak in the interest rate cycle, you would expect to see that reflected in an end to the persistent derating which has characterised the sector since early last year.
Discount opportunities continued So the kick to Hipgnosis Songs Fund (SONG) from the Round Hill Music deal ...
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This is the latest article from our contributor Reg Hoare, who has worked for 30 years in the City, initially in investment banking and the securities business, latterly as managing director of MHP Communications. He has been investing in investment trusts as a private investor for more than three decades. Here he explains why corporate activity is creating an excellent opening for investment trust shareholders.
Reg Hoare Upside potential galore I have written this year about what I call “shareholder value initiatives” being utilised by boards to enhance shareholder value and improve performa...
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I promised to give a list of trusts that I think look to have good risk/reward potential on the basis of their current discounts. If as appears likely we are close to the current peak in the interest rate cycle, you would expect to see that reflected in an end to the persistent derating which has characterised the sector since early last year.
I created this list a week ago and by good fortune included Hipgnosis Songs Fund, which has already benefited from the agreed bid for Round Hill Music Royalty Fund announced this week. I will keep an eye on the performance of these 15 trusts from here a...
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This is the latest in our regular feature for subscribers which highlights potential discount opportunities in the investment trust sector. The ideas come from research by Kepler Intelligence, the well resourced investment trust research company, and represents the author's opinions, not ours. Please note the disclaimer at the end of this article.
China - yes or no? It has been a peculiar few years for investors in Asia. A distant memory though it may seem, China’s hardline approach to the pandemic was initially lauded by lots of people across the world, writes David Kimberley. Combined with...
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This is the eighth in a new monthly feature for subscribers which highlights potential discount opportunities in the investment trust sector. The ideas come from research by Kepler Intelligence, the well resourced investment trust research company, and represents the author's opinions, not ours. The big picture environment will be important in validating or not these suggestions.
Time to feel the music? Hipgnosis Songs (ticker SONG) has emerged as one of the more popular investment companies in the alternatives space since its IPO in 2018, writes David Kimberley. The trust invests in the ri...
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This is the seventh in a new monthly feature for subscribers which highlights potential discount opportunities in the investment trust sector. The ideas draw on research from Kepler Intelligence, the well resourced investment trust research company, and represents the author's opinions, not ours. The big picture environment will be important in validating or not these suggestions.
Bargains in Uk commercial property? UK commercial property has not enjoyed the easiest couple of years, writes David Kimberley of Kepler Intelligence. The pandemic emptied offices and retail stores, leaving questi...
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This is the sixth in a new monthly feature for subscribers which highlights potential discount opportunities in the investment trust sector. The ideas draw on research from Kepler Intelligence, the well resourced investment trust research company, and represents the author's opinions, not ours. The big picture environment will be important in validating or not these suggestions.
Revisting the small cap sector It’s been a mixed bag for UK equities in 2022, writes David Kimberley of Kepler Intelligence. At the top end of the market cap spectrum, the FTSE 100 has held up well, largely because ...
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