Barramundi ( BRM )

[Beagle]

Welcome on board justakiwi.
I topped up with even more Marlin warrants today and took a deep breath and bought back some Kingfish shares so have embraced the winning trifecta myself

[stones]

Welcome on board justakiwi.
I topped up with even more Marlin warrants today and took a deep breath and bought back some Kingfish shares so have embraced the winning trifecta myself

Well done join the club. Since Ive disposed of all other shares these three are stress free in comparison and you have an all-round interest in a sense.

[Beagle]

Well done join the club. Since Ive disposed of all other shares these three are stress free in comparison and you have an all-round interest in a sense.

Thanks. Yes, as I approach retirement the stress free, extremely well diversified nature of these is noted, as is the fantastic PIE, tax free yield.

[mshierlaw]

With share price at 69c what are your thoughts on DRP participation this round, too pricey atm?

[justakiwi]

I’m no expert but DRP share price will be 3% discount to market price so a great opportunity to acquire additional shares cheaper than you otherwise could. Guess it depends on how many shares you have and whether you have a specific reason/need to take the divi in cash instead.

With share price at 69c what are your thoughts on DRP participation this round, too pricey atm?

[Beagle]

Last reported NTA is 72.73 cents so at 69 the shares are currently trading at just over a 5.1% discount to last Wednesday's asset backing.
DRP is based on a 3% discount to 5 day weighted average VWAP so that indicates a 8.1% discount to NTA at this stage.
I am more than happy with that and am fully subscribed to the DRIP but it is possibly worth noting that the next dividend is payable on 19 December so its perfectly understandable that some people will want to enjoy their cash dividend for Christmas and holiday spending

[Beagle]

http://nzx-prod-s7fsd7f98s.s3-websit...076/314083.pdf
Going very well indeed. Adjusted Net asset value (NAV), the most important measure of financial performance for shareholders has beaten the relevant index by any measure you care to use, (the last month, 3 months,year, three years or five years).

Very pleased to see they have exited their Aristocrat position for ESG reasons, something shareholders were very vocal about at the recent annual meeting. Good that the investment manager heard shareholders message and acted upon it.

Investment team is now performing so well no discount to NTA is warranted. Very happy holder.

[Beagle]

http://nzx-prod-s7fsd7f98s.s3-websit...409/315574.pdf

BRM reports gross performance for the year of a fantastic 36%, a whopping 13% higher than the Australian benchmark index of 23%
What a cracker result !! I was very impressed with their lead investment manager when I attended the Annual meeting in October 2019.

I expect current NTA to be announced tomorrow to be slightly north of 75 cents and see no valid reason why the shares should trade at any discount to NTA i.e. the investment team are well and truly earning their fair and reasonable fees.

Disc: Happy holder ~ 20% portfolio allocation.

[justakiwi]

KFL’s was similarly good

http://nzx-prod-s7fsd7f98s.s3-websit...409/315574.pdf

BRM reports gross performance for the year of a fantastic 36%, a whopping 13% higher than the Australian benchmark index of 23%
What a cracker result !! I was very impressed with their lead investment manager when I attended the Annual meeting in October 2019.

I expect current NTA to be announced tomorrow to be slightly north of 75 cents and see no valid reason why the shares should trade at any discount to NTA i.e. the investment team are well and truly earning their fair and reasonable fees.

[Beagle]

KFL’s was similarly good

Yes 8% above market performance ! Honestly for the extra and quite significant portfolio diversification I get from Barramundi, Kingfish and Marlin and the great structure of these companies with regular warrant issues, and 8% tax free PIE distributions, for the fair and modest fees they charge I am a very very happy camper and more than happy to let them take the strain of managing part of my portfolio for me. If they keep going well I might let them manage up to 50% of my portfolio, buy a boat again and go fishing for real Kingfish and Marlin