Schroder Oriental Income Fund

TCA

srcandas wrote: »

I'm convinced both high cap Asia and EM Asia will do well in the coming years.

My thinking too. I'm keeping an eye on several other investment trusts. Been watching TEM for a long while and still haven't bought yet but looking reasonable value. In addition to SOI I like AAIF and will buy soon I think. For income I also fancy JEMI, not so much Asia though. I'd also like to buy some small cap stuff and have AAS and SST on my watchlist but they look a bit pricey at the moment.

Party_Animal

TCA wrote: »

I'm on the verge of buying into the Schroder Oriental Income Fund Investment Trust. Looks like I just marginally missed my strike price today but I notice that somebody sold 250,000 shares for the best part of half a million quid at 4:28pm just before the stock market closed.

http://www.livecharts.co.uk/share_prices/share_price/symbol-SOI

Although this is a very small proportion of the total ordinary shares in issue, it still sticks out a mile amongst the rest of the day's trades. Does somebody know something I don't? The ex-dividend date is 13th November (Wednesday), so it seems odd that someone would offload such an amount today. Especially at 183.92p which is much lower than every other selling price today.

I guess for every seller there's a buyer but should I be concerned? Can anyone shed any light?

Thanks

Can't find this on the Hl site. Plenty
of Schroder funds but not this.

srcandas

Party_Animal wrote: »

Can't find this on the Hl site. Plenty
of Schroder funds but not this.

It's there. Try typing "schroder or" in the search for investments.

Make sure you are not searching only funds. It is a share

Party_Animal

srcandas wrote: »

It's there. Try typing "schroder or" in the search for investments.

Make sure you are not searching only funds. It is a share

Thanks. I've found it. I thought it was a fund. Is this just investing in one single company? It says "Income Fund" I've been looking for something in Asia. There's been a lot bought today.

TCA

Well, I let my limit order ride today and was at best around half a percent too low, so have now cancelled the order. Seeing as tomorrow is the ex-dividend date, I'll rebook another limit order for the same price minus the 3p dividend (or maybe a tad lower) and see how that plays out. My platform (Best Invest) however won't let me book another deal for the same share on the same day, so I need to do it early tomorrow or after midnight tonight. Damn inconvenient.

noh

Party_Animal wrote: »

Thanks. I've found it. I thought it was a fund. Is this just investing in one single company? It says "Income Fund" I've been looking for something in Asia. There's been a lot bought today.

http://www.schroders.com/uksoif/home/

TCA

Happy to report that my SOI purchase went through on the ex-dividend date. I aimed a penny lower than my previous target price (after also deducting the 3p dividend) and it all turned out nicely. I'm now proceeding with my other investment trust purchases but there'll need to be a few price swings in my direction for them to happen any time soon.

One that I'm interested in but was ignoring because it was on a premium of 3.47% is JP Morgan Global Emerging Markets Income Trust (JEMI). And I just happened to notice that they issued 900,000 shares at the going rate of 118.25p at the death on Friday, presumably to get rid of the premium in question. Total shares in issue are now 252.329m, up from 251.429m.

http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=11776476

Assuming no great shift in the NAV from Friday (which wouldn't be reported until later on Monday) and likewise re the share price, am I correct to assume that the premium will be wiped out?

TCA

TCA wrote: »

One that I'm interested in but was ignoring because it was on a premium of 3.47% is JP Morgan Global Emerging Markets Income Trust (JEMI). And I just happened to notice that they issued 900,000 shares at the going rate of 118.25p at the death on Friday, presumably to get rid of the premium in question. Total shares in issue are now 252.329m, up from 251.429m.

http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=11776476

Assuming no great shift in the NAV from Friday (which wouldn't be reported until later on Monday) and likewise re the share price, am I correct to assume that the premium will be wiped out?

To answer my own question, the premium on JEMI appeared to drop below 1% for a short time, but now seems to be approaching 3% again. The share issue would therefore seem a largely pointless exercise would it not? I'd be interested to hear any views on the subject.

grey_gym_sock

pointless for whom?

the trust's management will now collect a percentage fee on larger assets.

some of the trust's expenses will be fixed, so they fall as a percentage when it grows, benefiting existing holders.

TCA

Are you saying the purpose of the share issue was to increase fees for the management company? Hardly likely I'd have thought. My use of the word "pointless" was in reference to the intended purpose of the issue. My assumption, which could well be wrong, is that it was to reduce the share premium as they've done in the past.

Apologies if I'm being thick and missing the obvious.