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Things are changing at Eureka Report and in the weeks ahead we'll making some changes to our investment offerings but for the moment we want to tell you how it's going to work: To help us understand a new "in-house" investment approach, Jon Mills today outlines how he picks stocks. Jon also gives us an update on two of our favourite stocks Virtus and PAF.
Don't miss Mitchell Sneddon's terrific interview with Peter Hall, the head of Hunter Hall funds management who has recently re-located from London to Sydney. Hall calls Australia "the world's most undervalued market" and names two stocks – a medical company and a gold company – which he expects to multiply in value in the years ahead.
On video this week we finally get to see Sebastian Evans the chief investment officer of the NAOS Asset Management group. Mitchell Sneddon will be recording his interview with Sebastian on Thursday and we'll have interview on the site on Friday (May 20). They'll be digging into how to manage risk when searching for small cap opportunities. NAOS is a specialist in emerging companies, so it'll no doubt be an informative, quick fire interview for those of you interested in finding up-and-coming businesses that can deliver long term returns.
LIC model portfolio
No changes to the LIC model portfolio this week. There are a few odds and ends as far as news goes for the portfolio though. Recently Thorney Opportunities Ltd was keen to announce its NTA for the month of April coming in at 59.9 cents per share. This is off the back of a solid performance of core holding Service Stream Limited (SSM).
PM Capital Asian Opportunities Limited (PAF) announced its dividend plans last week. PAF will be paying a total of 10 cents in fully franked dividends possibly starting in September. For more click here to read Jon Mills piece on PAF: click here.
There is a new buy this week in the global LIC space. We are putting a buy call on Hunter Hall Global Value Limited (HHV) with the global manager trading at a discount of approximately 8 per cent to its after tax NTA. Click here to read the full story: Hunter Hall.
And finally it looks like Geoff Wilson has done it again. His WAM Leaders IPO is closing tomorrow and as of last week had already raised $330m showing there is a hefty appetite out there for new LIC offerings. Click here for our take on the IPO: Wilson goes back to market.
Stock | Code | Date | NTA | Current Share Price |
BKI Investment Company | BKI | 30/04/16 | $1.54 | $1.577 |
Bailador Technology Investments | BTI | 30/04/16 | $1.16 | $1.09 |
Magellan Flagship | MFF | 06/05/16 | $2.049* | $1.90 |
PM Capital Asian Opp. | PAF | 06/05/16 | $1.0466* | $0.945 |
Perpetual Equity Investment Co. | PIC | 12/05/16 | $1.018* | $0.92 |
Thorney Opp. | TOP | 29/04/16 | $0.599 | $0.54 |
WAM Research | WAX | 29/04/16 | $1.1628 | $1.32 |
*Not including dilution effect of outstanding options
Income First model portfolio
Last week saw strong performances from a few stocks in the portfolio, but the standout was the most recently added Credit Corp Group (CCP). CCP announced that it is tracking ahead of previous guidance in terms of purchased debt ledger acquisitions, and that the market is opening up a little as competitors pull away. CCP has now lifted by 25 per cent since its inclusion into the portfolio.
On balance we remain comfortable with all of the portfolio holdings, and will continue to scan the market for new opportunities.
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