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LICs LICs

Pengana International Equities Limited (PIA) Appoints New Manager

New Jersey  based, Harding Loevner LP is appointed as a new investment team. Harding Loevner is a global equity manager with over the staff of 100 employees and over US$84b Assets .

PIA will use the Harding Loevner global equity strategy with the inclusion of PIA’s ethical filters as a result of the appointment.

Currently, Share price of Pengana International Equities Limited (PIA) is $1.360. On 16th July Net Tangible Assets for Pre – Tax is $1.491 and Performance of Pegana International Equities Limited is 14.30%.

Harding Loevner’s investment strategy, as per PIA, supports the company’s goal of providing shareholders with capital growth through holdings in an ethically screened and actively managed portfolio of worldwide firms, as well as regular, predictable, and fully franked dividends.

Currently, IIR Ratings is ‘on watch ’ for PIA and will be full evaluation once it is reviewed for new investment team and strategy is completed.

Company Profile

Pengana International Equities Ltd, formerly Hunter Hall Global Value Limited, is a listed investment company (LIC). The Company’s investment objective is to generate positive absolute returns in excess of the investment portfolio’s benchmark over an investment horizon of approximately five years. The Company operates through investment in securities segment. The Company’s portfolio is invested in equities. The Company invests in a range of sectors, such as consumer staples, financials, healthcare, industrials, information technology, materials, telecom services and consumer discretionary. The Company operates through various countries, such as Italy, Brazil, Australia, Japan, South Korea, the United Kingdom and the United States. The Company gives investors easy access to a portfolio of global equities, including a strategic allocation to Australian equities. The Company’s investment manager is Hunter Hall Investment Management Limited.

(Source: FN Arena )

General Advice Warning

Any advice/ information provided is general in nature only and does not take into account the personal financial situation, objectives or needs of any particular person.

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LICs LICs

Ophir High Conviction Fund Striking the Benchmark

The fact that both founders have all of their liquid investments here is the most appealing aspect. The share price of this ASX LIC has increased by 21.69% for the financial year 2020. It has a price-to-earnings ratio of 11.08, which is slightly more than its NTA per share of $2.98 as of the P.Y. 2020.

The benchmark for the Ophir LIC portfolio is the S&P/ASX Mid Small Index (ASX: AXMSA). The LIC grew at a rate of 12.7 percent in FY20, compared to a benchmark growth rate of -5.3 percent.

The annualized return since inception (net of fees) is 20.2% on 22 July 2021.

The NAV Performance reported at $3.24 per unit and the Current Unit Price is $3.77 as at 30 June 2021. It grew by 24.7% for the financial year 2021 with market capital of $806 million

Company Profile

The Ophir High Conviction Fund is an ASX-listed small and mid-cap Australian stocks fund with a long only strategy. Ophir is a boutique Australian fund manager established in 2012 by its founders and senior portfolio managers Andrew Mitchell and Steven Ng. The Fund typically invests in a concentrated portfolio of 15-30 non-S&P/ASX 50 companies. The Fund trades on the ASX under the ticker symbol ‘OPH’ as a LIC. The Fund focuses on identifying high-quality businesses with structural development possibilities using Ophir’s thorough fundamental, bottom-up research process.

(Source: fool.com.au)

General Advice Warning

Any advice/ information provided is general in nature only and does not take into account the personal financial situation, objectives or needs of any particular person.

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LICs LICs

MFF Capital with Low Dividend Yield from 5.5% to 3%

With some of its current assets, long-term performance may be maintained. Visa, MasterCard, Home Depot, CVS Health, Facebook, Berkshire Hathaway, Microsoft, CK Hutchison, Flutter Entertainment, L’Oreal, and JP Morgan Chase are among the companies it owns with a market capitalization of more than 1%.

CMC claims to have produced total shareholder returns (TSR) of 17.5% per annum on average over the last decade, making it one of the best-performing LICs.

MFF Capital’s lower costs are another reason to admire it, aside from the fact that it invests in exceptional companies. Its fees are set, so as it grows in size, it will cost less as a percentage of assets.

MFF Capital’s half-yearly dividend will be increased to 5% per share, according to the board of directors. At today’s MFF Capital share price, a 10% yearly dividend would offer a dividend yield of 5.5%. Recently the company’s dividend policy, effective with the final Dividend for the Financial Year 2020, is 3% for half yearly payouts per ordinary shares.

Currently, the dividend yield is marked approximately around 3%. Its approximate weekly NTA per share was $3.397 (pre-tax) and $2.888 (post-tax) as on July, 2021.

Company Profile

MFF Capital Investments Limited (ASX Code: MFF) is an ASX-listed investment firm with a minimum of 20 stock exchange-listed international and Australian companies. MFF seeks to build a portfolio of firms with appealing business features (“Quality”) that are discounted compared to their intrinsic values (“Value”). Additionally it acts to protect the shareholders interest by minimizing the risk of permanent capital loss.

(Source: fool.com.au)

General Advice Warning

Any advice/ information provided is general in nature only and does not take into account the personal financial situation, objectives or needs of any particular person.

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LICs LICs

BTI Raises $4m from Share Purchase Plan

On May 2021, Net Tangible Asset per Share of per Tax is $1.53 and Net Tangible Assets per Share of post Share is $1.37.

The share purchase plan for Bailador Technology Investments ((BTI)) ended on May 18th. BTI received $4 million in applications from eligible stockholders.

The SPP was launched in April as a follow-up to a $20 million institutional placement, with shares in the SPP being offered at the same price as the institutional placement.

The funds will be utilised to fund a pipeline of investments that the Manager believes will provide investors with good value.

Company Profile

Bailador Technology Investments is a growth capital fund focused on the information technology sector, actively managed by an experienced team with demonstrated sector expertise.  Bailador provides exposure to a portfolio of information technology companies with global addressable markets. We invest in private technology companies at the expansion stage.

(Source: FN Arena)

General Advice Warning

Any advice/ information provided is general in nature only and does not take into account the personal financial situation, objectives or needs of any particular person.

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LICs LICs

Hearts and Minds LIC up by 1.85%

Despite the corona virus market crash in March, Hearts and Minds is up by 6.71 percent as of F.Y.2020. The company grew by 7.2 percent, outperforming the MSCI World Net Total Return Index by 3.4 percent (AUD). This LIC traded at less than its net tangible assets (NTA) value per share of $3.71.

The current share price(for F.Y. 2021) of Hearts and Minds Investments Ltd is $4.40. When compared to its closing share price of $4.33 seven days ago, this is a 1.62 percent increase.

 

The HM1 stock price is up $0.08 or 1.85 percent from its opening price.  Hearts and minds pre tax NTA is $4.25 as at close of business on 16 July 2021.

Company Profile

Hearts and Minds Investments Limited (ASX: HM1) is a unique Australian listed investment company. HM1 was founded in 2018 and already has over 8,000 owners and over $700 million invested in 25-30 high conviction equities businesses that have been recommended by top fund managers. HM1’s goals are to maximise long-term shareholder profits by investing in high-confidence concepts and to offer critical financial support to renowned medical research organizations. Without paying fees to an investment manager, HM1 provides investors with professionally managed and readily traded exposure to Australian and global listed equity markets.

(Source: Morningstar)

General Advice Warning

Any advice/ information provided is general in nature only and does not take into account the personal financial situation, objectives or needs of any particular person.

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LICs LICs

MXT Raises $192m through Institutional Placement

It seeks to invest 60% to 70% of capital in the Metrics Credit Partners Diversified Australian Senior Loan Fund (DASLF), 20% to 30% of capital in the MCP Secured Private Debt Fund II (SPDF II) and 10% to 20% of capital in the MCP Real Estate Debt Fund (REDF).

The portfolio of MCP Wholesale Investments Trust consists of a portfolio of corporate loans, investment grade and sub-investment grade loans, and diversified across borrowers, industries, the credit risk spectrum and loan products. The investment manager of the trust is Metrics Credit Partners Pty Ltd.

Currently, Annual Yield is 4.61% and Latest Share Price is $2.05.

MCP Master Income Trust ((MXT)) reported on April 26 that it has secured binding commitments from wholesale and institutional investors for 95.9 million new units in MXT at a price of $2.00 per unit, raising $192 million.

The proceeds will be invested in accordance with the investment mandate and target return of MXT.

“The additional investor capital will provide for increased portfolio diversification, which lowers investment risk, expected positive impact on total investor returns as new capital is deployed and invested, enhanced liquidity from MXT’s increased scale, and expected further cost reductions over time,” said Andrew Lockhart, Managing Partner at The Metric.

Company Profile

MCP Master Income Trust (the Trust) is an Australia-based investment trust. The trust, through investment in MCP Wholesale Investments Trust and other trusts, will invest in Australian corporate loans. The MCP Wholesale Investments Trust may make direct investments or invest in Wholesale Funds, which invest directly in portfolios of corporate fixed income through direct lending to Australian companies.

(Source: FN Arena)

General Advice Warning

Any advice/ information provided is general in nature only and does not take into account the personal financial situation, objectives or needs of any particular person.

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LICs LICs

Future Generation Investment Company Ltd

Future Generation provides high diversification by investing in about 20 funds managed by diverse Australian fund managers who work for free.

At least 10 holdings are likely to be represented in each of those portfolios. As a result, there are several underlying shares that provide adequate diversification.

Future Generation has a pretty strong dividend yield of 6.6 percent when grossed up. Currently, Future Generation provides fully frank divided yield is 3.8% due to Covid -19 Pandemic  Company decreases there dividend yield.

Current performance of Future Generation Portfolio for last 6 months is 12.8% and there outperformance for 6 month is 0.2%. S&P/ASX All Ordinaries Accummulation Index for past 3 years it is 10.3%.

(Source: The Motley Fool)

General Advice Warning

Any advice/ information provided is general in nature only and does not take into account the personal financial situation, objectives or needs of any particular person.

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LICs LICs

LICs that are sold for less than their true value

The LIC may or may not be completely transparent when it comes to revealing its holdings or NTA [net tangible assets]/performance numbers, and the costs are substantially higher — moreover they usually earn a bonus if they outperform.

LIC share prices, like that of every other publicly traded company, fluctuate based on supply and demand. This means that while the fund may have $1 in assets per share, the stock may be trading for 80 percents… or $1.20.

A large fish may buy out LIC, which is trading at a significant discount to the NTA, and liquidate it for a profit.

LICs can occasionally provide good discounts.

LIC managers tend to get upset when their fund gravy train gets taken away from them

The LIC gets smacked sometimes, especially during periods of acute lack of confidence, while the assets it holds bounce swiftly, thus buying the LIC at a discount is like going back in time and buying those equities before the rally.

(Source: The Motley Fool)

General Advice Warning

Any advice/ information provided is general in nature only and does not take into account the personal financial situation, objectives or needs of any particular person.