Marlin

[bear]

Bear, When Platinum Cap was listed it did so at a discount of some big % but as time went on it regained its issue price and then rose as its performance warranted it.

Platinum cap has been the only listed investment fund (rather than GPG type investor) i've owned... was pleased when the premium eventuated

have not held PMC for a while now

[ratkin]

Looks like Marlin have been busy , have invested in thirteen companies so far and will of been able to take advantage of recent market weakness and the high NZ dollar.
Good opportunity to diversify away from local assets.
Have topped up again at 0.79

O2 Micro has the largest pool of specialist engineers in China and makes
semi-conductors for LCD TVs and laptops for manufacturers such as Sony, Apple
and HP. Gameloft has made more than 200 video games for mobile phones and
other electronic devices.

"Hansens' Monster energy drink is second only to Red Bull in the US with a
25% market share. Hansens has been selling energy drinks in the US for
decades and has recently announced plans to launch globally.

"Jamba Juice is the largest smoothie chain in the US with more than 600
American stores and, like other category leaders Starbucks and Subway, has
the opportunity to become a global brand."

Other companies currently in the Marlin Global portfolio are:

Home Inns (China) - the No. 1 economy hotel chain in China;
Hongguo (China) - China's No. 2 brand fashion shoe retailer;
Wirecard (Germany) - a payment processor for internet transactions;
City Telecom (Hong Kong) - a leading provider of high speed broadband on the
island;
Icon PLC (Ireland) - a healthcare company specialising in managing clinical
trials;
Raffles Education (Singapore) - Asia's leading for-profit education provider;

Conceptus (United States) - A new permanent birth control system for women;
Ultimate Software (United States) - A leading payroll, talent management and
HR provider for small to medium businesses;
Equinix (United States) - a global internet infrastructure company.

[Balance]

Looking very cheap - a fall of 30% after only 3 months! Or is it because the market has woken up to the fact that Fisher Fund has no competitive advantage investing in the international markets?

A kingfisher trying to catch a marlin? Good luck!!!!!!

[Toddy]

Looking very cheap - a fall of 30% after only 3 months! Or is it because the market has woken up to the fact that Fisher Fund has no competitive advantage investing in the international markets?

A kingfisher trying to catch a marlin? Good luck!!!!!!

I think that Fisher has bitten off more than they can chew with this one. Investing your money with a couple of x-pat kiwi's on the international market must carry some sort of additional risk that should be priced in via a massive discount.

[Balance]

Particular expertise or not, I might be interested if the SP goes much lower than 77c.

You loading up? Must be cheap as?

[macduffy]

No, havn't bought any as yet.
I try to remember my hard learnt lesson of not to buy a share while its in a downtrend!
I still consider that Fishers don't have any particular expertise in international markets - see my post of 25/10/2007 - but that's not to say that their assets in this fund may not be good value at some stage.

[Balance]

No, havn't bought any as yet.
I try to remember my hard learnt lesson of not to buy a share while its in a downtrend!
I still consider that Fishers don't have any particular expertise in international markets - see my post of 25/10/2007 - but that's not to say that their assets in this fund may not be good value at some stage.

Contradicting yourself, I think. If Fishers don't have any particular expertise in international markets, then how can the assets in the fund represent good value at some stage?

Market has spoken loud and clear - Fishers reckon NAV was 92.45 cents on 4 March but sp is 64 cents so market is saying you have a long way to fall with your investment strategy.

Pity those who got sucked in by all the hype created by slick marketing - BRM, KFL and MLN.

[ratkin]

Seen todays announcement?

Seems silly really, if the shareholder in question wanted to buy into a fund why didnt he do so in the first place?

[macduffy]

Just picking up on the comment that I made back in March, and Balance's remark that I was contradicting myself.

I don't see any contradiction.
I was saying that I didn't think that Fishers had any particular expertise in picking international stocks. However, the SP had reached such a heavy discount to Net Assets that there was a good chance that that discount would reduce in time and produce an improvement in the SP. This fluctuation in the level of discount happens with all managed funds, not just specifically Marlin and is more a function of the "mood" of the market. In fact, under some circumstances the discount might turn into a premium, not that I see this happening in the near future.

I'm still not attracted to Marlin and won't be buying.

[Balance]

Most telling comment from Marlin today is that if it is unlisted, it will lose protection of NZX listing rules!

God helps those who are already in Fishers' unlisted trusts!!!!!!!!