AGF - AMP Capital China Growth Fund

[djones]

Re: AMP Capital China Growth Fund

http://www.ampcapital.com.au/china/theoffer/default.asp

Interested to know your thoughts of this fund and interested to know whether you think the shares will trade at a discount in january 07.

Cheers,
- Duncan

Should of listened to my own post a year ago and bought into this.. ahh well its been a good year up to now!!

 

[shinobi346]

Not bad. For those who took advantage of the IPO, they would be getting a return of fourteen per cent.

 

[PhoenixXx]

Fantastic announcement to start the year with.

"The responsible entity of the AMP Capital China Growth Fund (the Fund), AMP Capital Investors Limited (AFSL 232497), advises that the unaudited NAV of the Fund per Unit as of 31 December 2007 was $2.01 ex the
estimated annual distribution."

NAV per Unit (cum distribution) $2.14
NAV per Unit (ex distribution) $2.01

 

[PhoenixXx]

Subject: January 2008 Net Asset Value (NAV)

The responsible entity of the AMP Capital China Growth Fund (the Fund), AMP Capital Investors Limited (AFSL 232497), advises that the unaudited NAV of the Fund per Unit as of 31 January 2008 was $1.80 ex the estimated annual distribution.

31 January 2008
NAV per Unit (ex distribution) $1.80

Change in NAV : Year to 31 January 2008 : 75.5%
Change in NAV : Since Inception (22 December 2006): 101.0%

 

[PhoenixXx]

The responsible entity of the AMP Capital China Growth Fund (the Fund), AMP Capital Investors Limited (AFSL 232497), advises that the unaudited NAV of the Fund per Unit as of 29 February 2008 was $1.75 ex the annual distribution.
NAV per Unit (ex distribution) : $1.75

This is really frustrating, with NAV around $1.75 and SP barely survive above $1.00. And since the start of the year, i'm the only person posting on this thread, i assume that no one else is interested in AGF

 

[j4mesa]

hmm....
just to accompany you in this thread

if you are confident with the long term of this share , buy when everyone sells.
at times like that, people acts irrationally. phoenixxx

 

[DionM]

Yeah I hold AGF. Yes it is frustrating to see the SP dipping like it has, for no real reason but market irrationality. I am tempted to pick up some more, to be honest, but I am being patient ...

I have held since float.

 

[shinobi346]

I'm still holding too. We should be seeing the fruit from holding these shares in the form of bonus shares or a payout depending on what you chose.

I'm holding but I'm not looking at buying more until closer to the end of the year.

 

[oldblue]

A bonus issue would just further depress the price as it adds more shares without increasing the assets. So I don't see any point in that and don't see it happening.
I don't hold AGF. Fascinated by China like everyone else but can't see where AMP get a competitive advantage to invest in one of the most difficult markets in the world.

 

[PhoenixXx]

Yes, i'm still holding, from float too. DRP of 14ct seems not too bad for long term investment provided that they can maintain/increase the dividend. China's inflation of 8.x% on Feb and possibly even more bizzare in coming months is putting AGF under pressure

 

[shinobi346]

The date that the distribution is paid out draws near.

The DRP is closer to 10% than 14, Pheonix, when you factor in the higher price we're paying for the shares. I wish I went for the $ now. Getting 1 freeby for every twenty is good but it would be even better if it was calculated at todays prices.

I'm not too concerned about a drop in asset value as it is presently double the share price. as such, I think the dividend will have minimal impact on the sp other than whats already happened with the share passing the ex-dividend date.

I'm holding for the long term but I will reassess the situation after the Olympics.

 

[Dezza]

On a little side note, there's a new one coming out from CommSec, Capital Series Access China if any of you are still looking to diversify in China. Tracked against the HSCEI with BHP shares (for now) delivered on maturity after 5 years. Capital Guaranteed as well with 100% gearing available.

If it can provide same returns as AMP's, might do well.

However, past performance is not an indication of future performance, please do your own research and consult an Adviser / Accountant before proceeding.

 

[PhoenixXx]

I wish I went for the $ now.

Well...yeah...I was about to accept the cash instead of shares. Normally companies would send letters to shareholders regarding this matter. It was during December when they announced about the DRP and i didn't really pay attention to it as i was on holiday. When i made up my mind to accept the cash, deadline was too close for me to do it. So i left it as it is.

 

[PhoenixXx]

On a little side note, there's a new one coming out from CommSec, Capital Series Access China...

Once bitten twice shy. AGF could soar up to double its float price and lately even slumped below its float price. I would keep my eyes on Capital Series Access China, but definitely not going to invest in its float.

 

[dc_b4]

Any one still around this stock?

figuring what would happen to it if chinese sharemarket rebounds

 

[style69]

i think nav is around 93c and its now trading at 66-67c

any thoughts anyone

dividend coming up in december too??

 

[robusta]

i think nav is around 93c and its now trading at 66-67c

any thoughts anyone

dividend coming up in december too??

Had a look at AGF a bit over a year ago. I seem to remember the fees started to stack up by the time they paid for ; The concession to invest in China, management in China, some strange offshore entity in Mauritious or Maldives, then AMP themselves took a little cut.

Not sure of your view on China, IMO growth in the long term will continue but no economy is immune to recessions.

 

[style69]

My views are that china will continue to have single digit growth, and their class a roe to be double digit. The yield at current trading price is fantastic in my opinion. I got a feeling they will suprise on the upside in their next annual report. Initially amp raped it but good figures for2010 could continue for 2011 results

 

[robusta]

My views are that china will continue to have single digit growth, and their class a roe to be double digit. The yield at current trading price is fantastic in my opinion. I got a feeling they will suprise on the upside in their next annual report. Initially amp raped it but good figures for2010 could continue for 2011 results

Have you considered IZZ - iShares FTSE China ETF, down 31.9% over the last year. Growth in the economy does not allways mean growth on the sharemarket.

 

[So_Cynical]

Anyone watching this stock/fund?

Some massive volume today with over 11 million shares changing hands, roughly 3.3% of the issued shares...according to my chart the largest volume day by far in the last 2 years.

AGF and IZZ will be a bargain at some point. :dunno: its a hell of a down trend.
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