ALF - Allied Farmers Limited

**J R Ewing** · 24-03-2010, 02:18 PM

Originally Posted by Silverlight

I don't believe this to be a negative as you see it, I think it was quite positive. ACC have a pretty good investment team, and there past investment record is very good.

2008 Annual Report
http://www.acc.co.nz/PRD_EXT_CSMP/id...lowInterrupt=1

2009 should be out in the next month.

So they won't have just been "buying the index" in case ALF makes the top 50?

**Silverlight** · 24-03-2010, 03:01 PM

That may have been a factor but if you have a read of page 56 of their Annual report they held 113m of TEL and 29.3m in NZS. Those two holdings contrast indiacte the investment approach is not aimed at tracking the 50 index or even tracking benchmark world index like the dow or 500.

It seems they diversify widely, but also have the ability to take views outside of the box as well.

**peat** · 24-03-2010, 03:21 PM

Originally Posted by Silverlight

(ACC) have 29.3m in NZS

somewhat off topic in this thread but thats definitely a bit out of the box alright - they have more $ invested in Uruguay farming than they do in the Commonwealth Bank of Australia or Air NZ or Infratil.

Good diversification I suppose

**Silverlight** · 24-03-2010, 03:33 PM

Did have. This was the AR for year end 2008. NZS did hit a peak of $1.80ish

As at 19 March 2010 ACC own 16.9m NZS, worth 6.61m.

Back to topic:

Someone just bought 4.18m ALF @ 0.062.

**minimoke** · 24-03-2010, 04:05 PM

Originally Posted by Silverlight

Back to topic:

Someone just bought 4.18m ALF @ 0.062.

Someones just sold 4.18 - perhaps quitting before it drops further. One of the punters will be right or wrong.

**J R Ewing** · 24-03-2010, 04:18 PM

Originally Posted by minimoke

Someones just sold 4.18 - perhaps quitting before it drops further. One of the punters will be right or wrong.

You can bet that the buyer figures it will go up. Maybe he seller just needs the $$.

**Silverlight** · 24-03-2010, 04:48 PM

Only 2 ppl owned more than 2m shares in ALF before the Hanover shareholders came on board. Rob Alloway & John Hynds.

We now have 32 ppl who own more than 2m shares.

The trade is for the exact size of one of the new holders, so another Hanover investor selling their complete stake.