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Thread: Ift

  1. #2381
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    Quote Originally Posted by ratkin View Post
    ...Tied up 50k for weeks just for a few shares, pointless. Maybe that was their plan to skim off all the interest
    I much prefer a rights issue

  2. #2382
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    Bit disappointed with the amount too.

    I got 2992 shares, but luckily only applied at the last minute so didnt tie up 50k for too long. Hoping for a quick refund.

  3. #2383
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    Quote Originally Posted by ratkin View Post
    Tied up 50k for weeks just for a few shares, pointless. Maybe that was their plan to skim off all the interest
    In todays interest rate world, excess applications of $81m at 1% pa (if you were lucky for on call money) retained for a week would come to $15,577. This amount is petty cash compared to legal, share registry and NZX fees of undertaking the SPP.

  4. #2384
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    Looks like SPP refunded money is finding its way back into buying on market

  5. #2385
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    I applied for 765 and got the lot. Maybe because I'm an existing shareholder ~ 8000 and have some IFT290 bonds.
    Lucky I guess.
    A quote attributed to Margaret Thatcher goes along the lines of
    "The problem with socialism is that eventually you run out of other people's money."

  6. #2386
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    Quote Originally Posted by Waiuta View Post
    I applied for 765 and got the lot. Maybe because I'm an existing shareholder ~ 8000 and have some IFT290 bonds.
    I just used the SPP to reinvest my recent dividend, and got all I applied for too.

    Only existing shareholders could apply for the SPP. Anyone who applied for just enough to avoid being diluted by the wholesale placement (about 10% of existing holding) would have got their full allocation, only those who applied for extras over and above their pro rata share would have been scaled.

  7. #2387
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    Quote Originally Posted by Waiuta View Post
    I applied for 765 and got the lot. Maybe because I'm an existing shareholder ~ 8000 and have some IFT290 bonds.
    Lucky I guess.
    congrats on getting in with 8000 shares. I bought them as a "maybe" and only have around half of that. I would have loved to have bought more when they were cheap. That's investing for you
    Last edited by tango; 03-07-2020 at 11:18 AM.

  8. #2388
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    Quote Originally Posted by Bjauck View Post
    I much prefer a rights issue
    Ditto! With an option to apply for extra if the issue is undersubscribed. Much more straight forward

  9. #2389
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    Quote Originally Posted by Chickens View Post
    If it makes people feel any better, I applied for $30k, but only got $423 (91 shares)

    i.e. 1.4% of application, and like other people, 11.4% of my holding. (801 shares)

    .
    I got 14.5% of my original shareholding. Maybe the scaling changes once you have more than 1000 shares (which I do). I have no idea...

  10. #2390
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    My holding cost on these is now ~$3.40 having bought in Nov 2016 and again in Dec 2018. Despite me moaning about the excessive management fees Morrison & Co charge I'm showing a total return of ~25%. So mustn't grumble.
    Quote Originally Posted by tango View Post
    congrats on getting in with 8000 shares. I bought them as a "maybe" and only have around half of that. I would have loved to have bought more when they were cheap. That's investing for you
    A quote attributed to Margaret Thatcher goes along the lines of
    "The problem with socialism is that eventually you run out of other people's money."

  11. #2391
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    Quote Originally Posted by Waiuta View Post
    My holding cost on these is now ~$3.40 having bought in Nov 2016 and again in Dec 2018. Despite me moaning about the excessive management fees Morrison & Co charge I'm showing a total return of ~25%. So mustn't grumble.
    Likely to be a lot lower return IF Morrison & Co weren't managing it???
    This way all stakeholders win in my view.

  12. #2392
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    Quote Originally Posted by kiora View Post
    Likely to be a lot lower return IF Morrison & Co weren't managing it???
    This way all stakeholders win in my view.
    I agree, kiora. IFT is a Morrison and Co vehicle; it wouldn't be there if M and Co hadn't created it; despite "generous" management fees IFT has been an excellent investment since inception and investors go into it with their eyes wide open, or should. No complaints from me!

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