SOL - Washington H. Soul Pattinson and Company

[Miner]

Hello SOL followers
Could someone please throw light on Pengana Private Equity Trust IPO and SOL relationship?
I got a priority offer from Pengana Private Equity IPO and do not recall any communication on that matter from SOL (unless missed out).
https://www.pengana.com/news-and-in...lobal-private-equity-listed-investment-trust/
Priority offer

There will be a Priority Offer for investors in all of PCG’s funds as well as shareholders in the listed investment company Pengana International Equities Limited (ASX: PIA), Pengana Capital Group (ASX: PCG) and Washington H. Soul Pattinson (ASX: SOL). Details on how to apply under the Priority Offer will be contained in the Product Disclosure Statement (‘PDS’) and will also be outlined in a separate communication that will be sent to eligible investors before the offer period opens.

Offer size

The minimum offer amount will be $250 million, with a $1 billion maximum.

Regards

 

[So_Cynical]

Hello SOL followers
Could someone please throw light on Pengana Private Equity Trust IPO and SOL relationship?

Pitt Capital Partners is a wholly-owned subsidiary of Australia’s oldest listed investment house,
Washington H. Soul Pattinson & Company...Our goal is to identify outstanding companies to invest in and work with the management teams of those companies to help drive long term value creation.

https://www.pcap.com.au/

Pengana is one of their many partners, Pengana Capital is raising a bucket load of money to float its listed private equity fund/Trust, So a LIT not a LIC, the 1.25% Management fee and performance fee comes across as a little cheeky in a time of low fees.

I have access to the priority offer but have decided to pass.

 

[Belli]

Same here. Passed. Fees too expensive for me. Plus SOL has about 35% of Pengana so I guess I'll get a cut through SOL.

 

[Miner]

Pitt Capital Partners is a wholly-owned subsidiary of Australia’s oldest listed investment house,
Washington H. Soul Pattinson & Company...Our goal is to identify outstanding companies to invest in and work with the management teams of those companies to help drive long term value creation.

https://www.pcap.com.au/

Pengana is one of their many partners, Pengana Capital is raising a bucket load of money to float its listed private equity fund/Trust, So a LIT not a LIC, the 1.25% Management fee and performance fee comes across as a little cheeky in a time of low fees.

I have access to the priority offer but have decided to pass.

Many thanks SC for a very pertinent response as well sharing your action in regards to the priority offer.

Same here. Passed. Fees too expensive for me. Plus SOL has about 35% of Pengana so I guess I'll get a cut through SOL.

Both are helpful .
Regards
Miner

 

[Miner]

Same here. Passed. Fees too expensive for me. Plus SOL has about 35% of Pengana so I guess I'll get a cut through SOL.

Thanks Belli. Good to learn your view on SOL linkage with PE1.
Regards
Miner

 

[Miner]

@Belli and @So_Cynical Good morning
Further to your comments on my request, I did some digging. It looks SOL is holding 35% of the Pengana and the performance of Pengana is unsatifactory.
So I am joining your club - wait and see than becoming Columbus to put my hard earned money on accepting the priority offer. The comparative performacne analysis between PIA SOL and PCG are smply frightening.
Regards

 

[Miner]

Good morning holders of SOL and beholders of SOL thread
This morning you would have noticed on ASX that Robert Milner made two lots of purchase of SOL and each time 60,000 block. So in short he has purchased 120,000 shares spending about $2.5 M . It is of course negligible considering he already holds more than 18 millions.
Interesting (for me) to observe why he made two lots on the same day instead of one lot of 120,000 shares as I thought initially ASX posted by mistake same notification twice.
https://www.asx.com.au/asxpdf/20190409/pdf/44459s2bfcdsg8.pdf
https://www.asx.com.au/asxpdf/20190409/pdf/44459lf6ffj441.pdf
Yes, I do hold SOL.

 

[Zaxon]

SOL has been trading sideways for 6 months. I haven't been impressed with it of late. The more buying pressure the better.

 

[Garpal Gumnut]

I always regret selling mine at $14 or so back in 2010 or thereabouts.

Never got back in to SOL.

Must keep an eye on them.

Thanks Miner.

gg

 

[HelloU]

SOL has been trading sideways for 6 months. I haven't been impressed with it of late. The more buying pressure the better.
View attachment 93654

tricky
if you squint and hold your tongue just right, it and new hope do the funky dance together. late march, new hope deviated from sol. now in early april the deviation is ......less ............. not saying it is fair, it is just how it is. maybe sell one, or buy one, your choice.
leave u to it.
(go clover)

 

[Zaxon]

tricky
if you squint and hold your tongue just right, it and new hope do the funky dance together. late march, new hope deviated from sol. now in early april the deviation is ......less

NHC has had a massive fall from grace due to the Chinese import restrictions. SOL is good over the long run, but lately has been unimpressive.

maybe sell one, or buy one, your choice.

lol. I sold NHC. Still own SOL. But I've put them on notice. They're underperforming the rest of my portfolio, and I won't stand for it!

 

[So_Cynical]

NHC has had a massive fall from grace due to the Chinese import restrictions. SOL is good over the long run, but lately has been unimpressive.

I sold NHC. Still own SOL. But I've put them on notice. They're underperforming the rest of my portfolio, and I won't stand for it!

I sold some NHC as well just before the big fall as luck would have it, thats the thing with SOL they hold a diversified portfolio so while NHC has a bad year CLV has hit record highs and TPM has also had a significant recovery.

 

[Zaxon]

thats the thing with SOL they hold a diversified portfolio so while NHC has a bad year CLV has hit record highs and TPM has also had a significant recovery.

Yup. SOL is essentially a mini index fund. On the other hand, you could own the individual best performing constituents of theirs, not own the worse performing ones, and probably outperform SOL. I guess that's the performance vs stability trade off.

 

[Belli]

I purchased some more SOL a couple of days ago. I don't follow what the gyrations of market are. Was the first time I have taken any notice of it in a number of weeks.

I know it's not how others approach the matter obviously but it's what I do that matters to me not what others think. As long as money from dividends keep coming in to pay the bills, etc I'm content.

 

[HelloU]

tricky
if you squint and hold your tongue just right, it and new hope do the funky dance together. late march, new hope deviated from sol. now in early april the deviation is ......less ............. not saying it is fair, it is just how it is. maybe sell one, or buy one, your choice.
leave u to it.
(go clover)

forgot to mention ..... mainly cos it is sort of written between the lines at the start of the thread ....... that bkw is the natural long/short pair if direction is unclear but u still want skin in the millner things.

(go clover)
(fluence - see ya next dance)
(last call jin - are we all finished, are we all done ...)
(a40 - is 16 better than 10)

 

[So_Cynical]

SOL getting back to the long term trend - kind of? traded under 21 bucks today with the TPG /ACCC announcement, div yield of 2.5% should be sustainable going forward.
~

 

[Zaxon]

SOL getting back to the long term trend - kind of?

Or has it fallen below a SMA, and is on its way down? Time will tell which time frame holds predictive power.

 

[HelloU]

i find this difficult to value ...so charts it is
patience my pretty - patience

 

[HelloU]

i find this difficult to value ...so charts it is
patience my pretty - patience

short positions are still increasing, but each days turnover is painful to watch as it is big % of low value churn without uncovering many any more sellers ..... makes me think of gough whitlam ..... (maybe trump can get another dollar out of it though?)

 

[HelloU]

short positions are still increasing, but each days turnover is painful to watch as it is big % of low value churn without uncovering many any more sellers ..... makes me think of gough whitlam ..... (maybe trump can get another dollar out of it though?)

hold that whitlam thought for a bit ........ where there is a will there is a way for those shorters (no need for trump).
not sure if their favorite number is 86 or 92?