KFL - discount to diluted NAV

[alokdhir]

I am agreeing with you. I am just saying IRD does not make this at all clear in the limited information they provide on their website, with regards to PIE income.

The link I have below is IRD website info ...I think they are pretty clear that investors in listed PIEs can decide to include income in assessment or not ...

https://www.ird.govt.nz/roles/portfo...estment-entity

[Rawz]

KFL could slip down into the $1.20s again. MFT, FPH and now EBO trending down recently

[alokdhir]

KFL could slip down into the $1.20s again. MFT, FPH and now EBO trending down recently

Its just gone ex dividend of 2.82 cents ...and its in its weakest period of 5 days after ex to determine DRP price ...

[winner69]

Did kingfish have any PEB shares?

[alokdhir]

Did kingfish have any PEB shares?

Not as per their portfolio mate ....But u asked means U think so ....

But they surely have your favourite growth stock EBO ...

[winner69]

Jeez, the NAV taken a big hit this week …could be said to be collapsing

Highly paid manager probably just sitting back and thinking no worries ..it’ll be all OK one day ..just need to work out how I can financially engineer my way out of this mess so I can say we beat the Benchmark

[winner69]

Ah, I see most of what NAV has dropped is the dividend …..clever

[alokdhir]

Ah, I see most of what NAV has dropped is the dividend …..clever

U are sharp mate ...finally u r getting it ...growth stocks into super tax efficient yield is their main USP to retired people who wants ultimate peace of mind and not as sharp as u to play rising stocks stars , new entrants to index or read balance sheets with occasional lucky punts like PEB @ 5.45 cents

PS : Soon u will stop looking for MFT at $ 50 also ...lol

Also if its any consolation ...KFL fund managers got lowest fees of 0.75% only last year due to underperformance

[Sideshow Bob]

NTA announcement - https://www.nzx.com/announcements/412763

Date 7/6/2023 31/5/2023
KFL NAV $1.3687 $1.3987
Share price close $1.31 $1.35
Discount 4% 3%

The above net asset value (NAV) is unaudited and net of fees and tax.

The NAV per share is after deducting an accrual for a 2.82 cents per share dividend to be paid on 23 June 2023. The NAV per share is also calculated after deducting treasury stock of 379,378 shares (acquired under the Kingfish buyback programme).

[Snoopy]

Any ideas about how to use excess imputation credits ?

Yes. You buy Australian dividend paying shares. Australian shares have a much lower rate of tax deducted being 0% (if the dividend is fully franked) or 15% if it is unfranked. Either way you will have a tax bill to pay. So you can use excess New Zealand tax credits to do it.

Of course you cannot claim the Australian franking credits as an NZ taxpayer, so in that sense you are 'double taxed' on Australian dividends. But neither do you have to pay the capital gains tax on any capital profits, provided you are an investor, not a trader. By contrast the Aussies investors do have to pay CGT. So it is really a swings and roundabouts situation as far as paying tax on Australian shares goes.

SNOOPY