Australian (ASX) Stock Market Forum

MIR - Mirrabooka Investments

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Dona Ferentes said:
will MIR surprise with more than 3.5c a share distribution? The 'specials' are usually announced in July.
Click to expand...

That's a good thought. Obviously, it's an unknown until it reports.

However, what I have noticed over the last couple of years at least is MIR has been transferring its net profit to Retained Earnings and the dividend is fully funded from capital gains. If the same occurs this time round LIC CG discount will apply. We shall find out in due course.
 
Numbers can be weird. According to information I received yesterday, MIR has been the best performer of my holdings for this FY so far with a CG of 9.3%. Next best was VGS at 5.5%.

Of no importance. Just posting a piece of useless information.
 
Belli said:
Numbers can be weird. According to information I received yesterday, MIR has been the best performer of my holdings for this FY so far with a CG of 9.3%. Next best was VGS at 5.5%.

Of no importance. Just posting a piece of useless information.
Click to expand...
Do you know if this gain is based on rerating of npa (I think this is the acronym for the underlying asset values?) Or a premium above npa
Toying to buy a few $k for the super (long term )
 
qldfrog said:
Do you know if this gain is based on rerating of npa (I think this is the acronym for the underlying asset values?) Or a premium above npa
Toying to buy a few $k for the super (long term )
Click to expand...

I don't know @qldfrog. I've held it since 2003. It was trading at a discount to its Net Tangible Assets when I last purchased a few thousand shares in October last year. I am not sure if it is still below its NTA as I don't follow those aspects a lot.

I've attached a link to its latest NTA report which is issued monthly.

 
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qldfrog said:
Do you know if this gain is based on rerating of npa (I think this is the acronym for the underlying asset values?) Or a premium above npa
Click to expand...
The monthly snapshot, which is just that, provides a useful idea of SP relative to NTA at the last day of each month. Right now it's close.
Screenshot_20240116-182737_Drive.jpg


qldfrog said:
Toying to buy a few $k for the super (long term)
Click to expand...
... as good a plan as any.. ?

(have worked out, based on last Annual report, I'm among the top 241 of holders)
 
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qldfrog said:
Just checked again, Australian Super does not let me use MIR for my super, nor any Japanese or Mexican/Turkish ETF, or urnm ETF..arrrgggg
But BHP CBA FMG a plenty😭
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so which companies do Australian Super have directors on the board 😉

... just asking
 
Dona Ferentes said:
probably the low market cap ... coming in at under $600M.
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@qldfrog will correct me if I am wrong but Australian Super does not include DUI & AUI in available LICs, yet each has FUM of over $1B.

In addition, it don't seem to allow for smaller/mid-cap companies even with ETFs such as VSO, SSO or ISO.

The available selection appears restrictive to me. Maybe they take the view we need to protect members from themselves so exclude options of that nature.
 
Belli said:
@qldfrog will correct me if I am wrong but Australian Super does not include DUI & AUI in available LICs, yet each has FUM of over $1B.

In addition, it don't seem to allow for smaller/mid-cap companies even with ETFs such as VSO, SSO or ISO.

The available selection appears restrictive to me. Maybe they take the view we need to protect members from themselves so exclude options of that nature.
Click to expand...
Indeed no dui or aui.
I am unable to attach a pdf with the list of ETF/lics...
They just removed Japan ETF...why..?
Anyway, it means I can not invest thru my super...
 
The interim dividend of 4.0 cents per share fully franked (at 30%), an increase of 0.5 cents per share on last year’s interim dividend, will be paid on 19 February 2024 to ordinary shareholders on the register on 25 January 2024. There is no conduit foreign income component of the dividend.

> All of the interim dividend is sourced from capital gains, on which the Company has paid or will pay tax. The amount of the pre-tax attributable gain, known as an “LIC capital gain”, attached to this dividend is 5.71 cents (4.0 cents grossed up for tax). This enables some shareholders to claim a tax deduction in their tax return.
 
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New Companies Added to the Portfolio
IGO
Region Group
Telix Pharmaceuticals
Lindsay Australia
Janison Education Group
Genetic Signatures

We have continued to seek out the best relative long term value in companies that meet our quality threshold during the half year. As a result, a new position in IGO (part-owner of the world’s lowest-cost large-scale lithium mine, Greenbushes) was added and we continued to add to our recent addition, Lynas Rare Earths (the only scale producer of rare earths material outside of China). While subsequent share price falls suggest that we bought these too early, we remain comfortable with our investment thesis and the long-term outlook for each.

We have also seen value emerge in the Real Estate Investment Trust sector, as the sharp recent rise in interest rates saw material share price falls across the sector. We established a new position in Region Group which we view as a secure income producer, with its centres anchored by large non-discretionary supermarket tenants. Telix Pharmaceuticals (radiopharmaceutical business that is a market leader for the detection of prostate cancer) and Lindsay Australia (transport company that has recently enjoyed market share gains servicing food produce markets across eastern Australia) were the other material portfolio additions made in the six-month period.

To fund these purchases, we exited our investment in Santos, a holding that we retained after our long-term shareholding in Oil Search was taken over by Santos. We also closed out our successful trading position in Medibank, which was bought after the steep share price decline following its cyber breach in late 2022.

We also trimmed holdings where valuations had risen with portfolio position sizes looking too high for the value now on offer. This occurred most materially in our positions in REA Group, Eagers Automotive, Netwealth, Auckland Airport and Reece.
 
Dona Ferentes said:
The interim dividend of 4.0 cents per share fully franked (at 30%), an increase of 0.5 cents per share on last year’s interim dividend, will be paid ..to shareholders on the register on 25 January 2024.
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MIR goes ex dividend on 24th and what happens?
...Someone still wants to buy; up to $3.28 today
Screenshot_20240125-145802_CommSec.jpg
 

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Dona Ferentes said:
full list of New Companies added to the Investment Portfolio ...OFX Group, Tourism Holdings, Lynas Rare Earths , Ardent Leisure, Vista Group, Ampol, Redox (IPO) , Port of Tauranga
Task Group
Dropsuite, LGI (IPO)
Click to expand...
and from the MIR half yearly

TSK : TASK Group Holdings
shares held # '000 .. 2,752 :
Value $'000 ..1,129

Dona Ferentes said:
A common approach by MIR, as mentioned in their reports, is to take a smallish holding at first and add as time progresses.
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and today...
.. it is proposed that PAR will acquire 100% of TASK by way of a Scheme of Arrangement. TASK shareholders will have the ability to receive the Scheme consideration in cash or scrip by way of a mix and match facility
• Cash Consideration - Under the Scheme, TASK shareholders will have the opportunity to elect to receive consideration of 100% cash at a price of A$0.81 per TASK Share

more dividends derived from capital gains (assuming it gets up)
 

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