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N@vra facts

Discussion in 'Managed Funds & Index Funds' started by Chris.R_WA, 6th Feb, 2009.

  1. Chris.R_WA

    Chris.R_WA Well-Known Member

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    Hi all,

    I don't want this thread to get killed in 2 hours, so please don't riddle it with too much conjecture or opinion...just the facts as we know them!!

    Did Navra end up paying a 2Q distribution this FY, or have I missed something? There is nothing showing on the website.

    When will Navra look to progressively re-enter the market (if they haven't started already)? Again, cannot find any information on the site at all - in fact it still shows them as holding a portfolio of stock...

    All the information in the recent quarterly letter to unit holders was on the economy in general, nothing around the fund itself.

    Any one have any info or knowledge they'd like to share??:):)

    Cheers, Chris
     
  2. Simon Hampel

    Simon Hampel Co-founder Staff Member

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    No December distribution was paid. There was no trading done for most of the quarter, and income earned since the move to cash would have been very small compared to the realised capital losses (treated as income losses by the trading fund) made during the previous months.

    No definite date has been given for a re-entry back into the market yet, although when I was in their offices the other day, there was a generally upbeat mood with talk that it will be sooner rather than later. They are chomping at the bit wanting to get back into the market once they are satisfied that the risks have eased (re-entry will be gradual though). I think there is some excitement given the cheap price they will be able to buy back in at compared to where they sold out at.

    I think if you are a unitholder and want more specific information, your best bet is to contact NI (or Steve) directly.
     

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  3. JustB

    JustB Well-Known Member

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    The fund never went 100% into cash, it maintained a position of ~2.5% across the selected stocks. This was done to prevent them from having to close their trading account (which would be mandatory, I guess, if there was zero balance in it). The ~97.5% cash was not held in the trading account (low interest, and perhaps not government guaranteed?), but in a higher interest earning, and government guaranteed, account with the Bank of Canada. The retained ~2.5% of stocks have not been traded, merely held. Hence the small daily movements in the fund's unit price as the market rises and falls.
     
  4. Redwing

    Redwing Well-Known Member

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    Look forward to when they re-enter, as long as i don't wind up with a new wardrobe

    [​IMG]
     
  5. Chris.R_WA

    Chris.R_WA Well-Known Member

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    Thanks for that guys !

    Much appreciated
     
  6. islandgirl

    islandgirl Well-Known Member

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    I do think they could have updated their website though. When I checked a few weeks ago they did not mention anything about the distribution or even have a zero amount against the quarter. They mentioned nothing about the status on the website. I can understand from a marketing point of view however as an investor this lack of real information is poor
     
  7. Leandro

    Leandro Well-Known Member

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    NFS is hosting an information evening this Thursday
     
    Last edited by a moderator: 10th Feb, 2009
  8. Simon Hampel

    Simon Hampel Co-founder Staff Member

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    ... for NFS clients.
     
  9. voigtstr

    voigtstr Well-Known Member

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    Sim I looked on the navra forums, can you only access the "Library" (to download the audio file) if you are a client of Navra Financial Services, and not just an owner of navra units like I am?
     
  10. Simon Hampel

    Simon Hampel Co-founder Staff Member

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    Currently, yes it is only available to clients.

    The event was run for NFS clients - not for NavraInvest unitholders - most of it was relating to portfolio management for people invested using the Navra structure.

    I can summarise some of the information relating specifically to the Managed Funds though:

    - fund has recently started to re-enter the market (relatively small amounts).
    - plan is to be up to 10% invested in the short term until volatility (and risk) reverts to more normal levels (has improved, but still not safe enough for anything more than a small exposure).
    - not expecting much (if any) distribution at end of March, but should hopefully see some income paid by the end of financial year.
     
  11. voigtstr

    voigtstr Well-Known Member

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    excellent stuff, thanks Sim.

    hey if there's a Melbourne course anytime soon, if I went to that and paid my $89 I would get full acess to the navra forums wouldnt I. I might just have to do that :)
     
  12. Simon Hampel

    Simon Hampel Co-founder Staff Member

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    I believe they are planning courses in other cities (including Melbourne) in coming months. It's worth attending!