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Navra cocktail party.

Discussion in 'Networking & Meetups' started by Smartypants, 15th Feb, 2008.

  1. Smartypants

    Smartypants Well-Known Member

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    Got my invite to the Navra cocktail party but unfortunately won't be able to make it.

    Is anyone from here going?

    Was hoping someone will post the info on what transpires on the night/s
     
  2. Liverpool St

    Liverpool St Well-Known Member

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    Navra


    At the Hilton this time. Should be good
     
  3. Mark Laszczuk

    Mark Laszczuk Well-Known Member

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    Yeah I'm goin'.

    Mark
     
  4. perky

    perky Well-Known Member

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    Most likely yes I will be. Sydney we are talking about.

    Maybe it would be a good idea if we wear something distinctive so people who reply here we can meet up.
    Many here know my ugly mug , but for those who don't - I will wear a red tie and white shirt that day...

    David
     
  5. MrDarcy

    MrDarcy Well-Known Member

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    Is this NFS or Navrainvest ?

    When and where ? My invite seems to have been lost in the mail :(
     
  6. Mark Laszczuk

    Mark Laszczuk Well-Known Member

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    Invites were sent out to NavraInvest shareholders and Navra fund unitholders.

    Mark
     
  7. MrDarcy

    MrDarcy Well-Known Member

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    2 out of 2, but no invite. I'll have to call.
     
  8. Mark Laszczuk

    Mark Laszczuk Well-Known Member

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    Yeah, just give 'em a tinky winky, it's all good. I used to work in a mailroom, you'd be amazed just how much mail gets lost.

    Mark
     
  9. Nigel Ward

    Nigel Ward Team InvestEd

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    I'll be going. Steve asked me to organise a recording of it for InvestEd'ers.

    In Sim's absence I will try to do so - but no guarantees as to audio geek quality :D

    Will jot down some notes and post them too.

    Cheers
    N.
     
  10. Alan

    Alan Well-Known Member

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    It will be interesting to hear Steve's comments on the US Fund.

    While the Oz Market has been down over 11%, the Oz Fund is down about 8%. A relative outperformance.

    However, while the US Market is down about 8.5%, the US Fund looks like it's down over 12% :confused:
     
  11. Simon Hampel

    Simon Hampel Co-founder Staff Member

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    Don't forget you also have to take currency fluctuation into account - has the AUD gone up against the USD over 4% in the time period you are considering ?
     
  12. Alan

    Alan Well-Known Member

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    Good point Sim.

    AUD probably has gone up at least 4% in that period.
     
  13. SugarFreeGum

    SugarFreeGum Member

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    This was held last night?

    Anyone willing to post up any summary, notes and/or figures? Quite interested in what Steve had to say.

    Cheers
     
  14. Glebe

    Glebe Well-Known Member

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    Yeah, I forgot to attend :eek:

    Would love to hear about the warrants, and anything else mentioned.
     
  15. JustB

    JustB Well-Known Member

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    Just a quick overview of the main topics - I'll leave the details for those that took notes (unfortunately the slides weren't included in the handout).

    - Overview of current state of market, Steve again emphasised how happy he is the market has finally corrected and given his fund 2 quarters of high volatility. The fund went from a high of holding ~50% cash in November to <2% cash during the big January drops, and is now at ~8%. He stated ~$100MM was invested in the blue chips (banks et al) at discount prices, which places the fund in an excellent position for upside outperformance of the index. Next dividend expected to be 3%.

    - Risk management was a big topic, with the soon-to-be-introduced warrants. Recommendation is for all clients or unit holders to transfer holdings from margin loans to warrants with capital protection option. Warrants offered at a rate of ~8.3%pa, with additional 2%pa for the gaurantee, which he feels is worth the premium in the current volatile conditions. Warrants offered at 55%LVR only??? (can someone else clarify?). Those wishing to stay with margin loans should limit LVR to 50%, especially now as the fund is not as protected by holding large amounts of cash. My memory fails a little, but an added benefit of the warrants are that they are non-recourse loans, which means serviceability does not even enter the equation.

    - New NI Growth Fund is hoping to be launched later this year, pending approvals. Utilising the non-recourse warrants, investors will now be able to gear into the funds at 80+% LVR, finally giving share-orientated investors the same power of leverage as property-orientated investors.

    - Great Southern Wine Grape presentation, for tax minimisation. Same details as last years project, but IO period extended from 3yrs to 6yrs, income kicks in from year 1, and interest rate negotiated lower than last years offering. Only $35MM available, get in quick was the key message.

    Overall a very informative evening.
     
  16. Nigel Ward

    Nigel Ward Team InvestEd

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    JustB's pretty accurate. But "all" clients is too strong. All clients to consider, but not necessarily appropriate for all.

    I've got an MP3 recording of it all so I'll try to figure out how to post it in our multimedia section.

    Cheers
    N.
     
  17. JustB

    JustB Well-Known Member

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    Forgot one thing - NI likely to get public listing on Newcastle Stock Exchange. ASX not feasible due to high costs, and large amount of detailed reporting required.
     
  18. gazza

    gazza Well-Known Member

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    JustB

    Not sure it was the Newcastle Stock exchange , I thought it was the National Stock exchange which is more like a share registry but then again I have heard of the Newcastle SX but not the National , so maybe I misheard :)

    Gazza
     
  19. Nigel Ward

    Nigel Ward Team InvestEd

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    I heard Newcastle Stock Exchange.
     
  20. Jenny

    Jenny Well-Known Member

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