Actually the March div was the highest paid at 3.71cps
https://www.nzx.com/instruments/KFL/dividends
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Actually the March div was the highest paid at 3.71cps
https://www.nzx.com/instruments/KFL/dividends
DIVIDEND REINVESTMENT PLAN PRICE DETERMINED
10/12/2021, 9:35 amCORPACT10 December 2021
DIVIDEND REINVESTMENT PLAN PRICE DETERMINED
Kingfish Limited (Kingfish) advises that the share price used to calculate entitlements under the Dividend Reinvestment Plan (the DRP) has been set at $1.8975.
This is the volume weighted average price of all Kingfish shares traded on the NZX Main Board during the five trading days from and including the ex-dividend date (being 2 December 2021), less a 3.0% discount.
The new shares will be issued on the dividend payment date (being 17 December 2021) to those shareholders who have elected to participate in the DRP.
Ends
Not a very good monthly report from Kingfish
Some big downs on a few stocks
Looks like the three Fisher funds underperformed in November …..losing theirs mojo
http://nzx-prod-s7fsd7f98s.s3-websit...547/361488.pdf
A very poorly diversified fund with the top holdings making up a whopping 69% of funds under management.
On the positive side at least they have continued to beat the NZX50 over the last year.
I think Sam Dickie and his team need some fresh idea's for 2022.
Just "a little" more lol. I sometimes wonder what they do in a quiet month like November when they make no material portfolio changes and none of their companies reported. One supposes that they're all "working" from home.
Just sharing what I know. Fisher have lost their mandate as a default Kiwisaver service provider from 1 December 2021. I don't know how this will affect the billions they have under management in their Kiwisaver and unlisted funds, some of which is invested in the same stocks as the listed Kingfish - Barramundi - Marlin trio but this can't be a good thing.
I have delayed any consideration of investing in their international unlisted managed funds as a precautionary measure.
A day in Sams life
Those bloody Pushpay shares we got. ....jeez down 28% last month ....should have sold when we thought the model ws broken .... but we hoped like hell they'd do OK into the future.
What we do now --- OK lets toss a coin .... heads we sell and tails we keep ..... to fill in the day lets do 50 tosses ..... bugger its come out 25 heads and 25 tails ..... so inconclusive .... so lets buy more as wouldn't want to miss out on the rebound
Just unpacking this a little more. This is not an anti Fisher thing...just coming to grips with the implications for the market.Quote:
Just sharing what I know. Fisher have lost their mandate as a default Kiwisaver service provider from 1 December 2021. I don't know how this will affect the billions they have under management in their Kiwisaver and unlisted funds, some of which is invested in the same stocks as the listed Kingfish - Barramundi - Marlin trio but this can't be a good thing.
I understand that Smartshares has received the tick of approval as a default Kiwisaver provider.
I don't know what happens to the billions Fisher have under management that is there from default up until now ? (default is where people don't choose their own Kiwisaver provider). Does anyone know what happens to those funds ? Are they reallocated to the new Kiwisaver default providers like Smartshares or is it just new funds coming into Kiwisaver that are allocated going forward ?
Either way what we witnessed yesterday afternoon was interesting and was commented on in the after market commentary, (content to come). Sorry can't find that comment easily but essentially it was saying that funds flow from Smartshares appears to have lifted the market in the late afternoon.
Here's my latest working theory. The billions Fisher's have had coming into their funds will reduce materially with the loss of their mandate as a default Kiwisaver provider, (that much is obvious). Fisher's have been stock pickers and a disproportionate amount of their previous inflows have been allocated into the market in the stocks they choose. They are poorly diversified in N.Z. as I've noted in earlier posts. Will the loss of material ongoing buying support affect the share price of Fishers preferred stocks in N.Z ? I don't know.
What are the implications for the shares Fisher's funds own in Barramundi and Marlin ? I don't know but again, it can't be a positive thing.
Smartshares will be investing based on NZX50 index allocations (not stockpicking) so some shares in the NZX50 that have previously had little institutional support will get materially more support going forward. I think that much is crystal clear.
My hint for 2022. Don't underestimate the effect of this over the long run going forward as we are talking billions of dollars of Kiwisaver money invested over time. Stocks in the NZX50 like HGH, GNE, ARV, ARG and OCA, (these are just examples, clearly there are many others) that were not on Fisher's favored list will get a lot more institutional support going forward from here.
There are also clear implications for companies that get added to the NZX50 in the future in terms of the amount of institutional Kiwisaver support they will attract over the years ahead. I'm thinking of HLG and TRA and also wondering about WHS. (Might reinvest previous realised profits in WHS when the time is right).
Disc: I own all the stocks mentioned above, (except WHS).
Disclaimer: This is just a working theory of mine that's a work in progress. Who knows, my thinking might just be a big dog's breakfast...time will tell.
I'm sure it is something like if the old default provider had not made contact/confirmation that they want to stay, with the customer, they had to move them on to another randomly picked default provider, not sure if they also would move them to the new default fund of balanced or whatever it was though
..............see below