Year almost coming to end ...with NZX50 resting at strong 12800 support after absorbing yet again Billion plus primary placement of AIA . KFL as per our XP's calculations showing + 15.36% YTD while BRM + 2.90% YTD ....many expected other way round result at start ...but not me !!! Next year is going to be same imo but BRM has some catching up to do....so KFL outperformance can be muted ??
No mate ...I think u forgot to deduct 2.85 cents divvy already out of NAV ...its going to be around $ 1.445 estimated
One other thought ...KFL sp is usually at its lowest during 5 days after going ex ...it seems $ 1.30 was the bottom this quarter which is 5 cents higher then last qtr's low of $ 1.25 ...while market tanked almost 4% from its recent top during last few days after AIA placement
This trend of higher lows should continue next year ....closing the discount and following higher NAVs ...expect SP to be around $ 1.50+ next Dec qtr low after divvy out
Discount to narrow mainly due to higher demand ( TDs slowly going out of favour ) and less supply ( as holders find it silly to sell them ...lol )
The NAV per share is after deducting an accrual for a 2.85 cents per share dividend to be paid on 20 December 2024.
That was last week, I thought the div was already out of last week's NAV. That and treasury stock on hand, which I presume a lot of went into the DRIP.
DRIP price should be announced today. The share price tends to suffer during the period for calculating the DRIP price as the on-market buyback must be suspended.
So back to normality is imminent and next NAV announcement will be enlightening, albeit the NZX has been under downside pressure due to the abnormal amounts of capital sucked out by those listed entities raising capital just recently/ the sell down by Auckland Council of the remainder of its AIA holding.
The Kingfish portfolio gross performance return and Adjusted NAV return in November were +3.2% and +2.8% respectively, versus the New Zealand shares benchmark S&P/NZX 50 return of +3.4%.Today
”When investors are euphoric, they are incapable of recognising euphoria itself “
Share price should start to reflect that the next Warrant announcement cannot be far away. That is usually equivalent at least to another quarterly dividend if you choose to divest early rather than hold.
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Originally Posted by alokdhir
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