Last day of the year and nobody has yet asked the question. So here goes. Is Uncle Steve going to pay me my wages this quarter? There has certainly been lots of volatility but very little growth, so I imagine that there should be some trading profit to pay out. But how much? Happy, prosperous, and more importantly healthy new year to one and all, Lorrimer
The Eagle Has Landed ! Good Morning, For all those anxiously awaiting their Navra income, my distributions for Q2 have just been deposited into the nominated bank account. Cheers Jayar
Yep, my distribution also hit the account yesterday afternoon. Very nice. Now we just need a bit of growth to get that balance up again. Love ya Uncle Steve
The unit price for the retail Aus Fund at the start of the last few quarters was: Jul-Sep 07 quarter - $1.12 (02 Jul 07) Oct-Dec 07 quarter - $1.14 (02 Oct 07) Jan-Mar 08 quarter - $1.08 (02 Jan 08) With the redemption price currently sitting at $1.03 (11 Jan 08) my LVR has increased from around the 60-62% mark to up over 68%. I'm hoping the unit price doesn't drop too much more because I've never experienced a margin call and BT margin loan has max LVR of 75%. Looking back over the history of unit prices the last time it dipped to $1.03 was only back in August (16/08/07) and it recovered fairly quickly. I don't usually take much notice of short term fluctuations in unit price so don't know why I'm watching it so closely now! But yeah, agree with the others - a bit of growth would be nice.
Just checked and LVR sitting on a tad over 60%. Leveraged Equities has a max LVR of 70% so hope unit price recovers real soon. Steve on holidays so difficult to get his view at this stage.
Even though the max LVR might be 75%, I thought there is then a buffer on top of that before a margin call is made. Certainly that is the case looking at the paperwork with my Colonial margin loan, Max LVR 76%, margin call LVR 86% (current LVR a tad over 70%).
Yes, most margin lenders have a 10% buffer for managed funds (although a few only offer 5%). Here is a chart of Navra AUS Retail fund versus ASX 200 index over the past 3 months: [chart=CC;XJO,NAV0001AU;last3;5;20080114]XJO,NAV0001AU[/chart] ... the fund is down because the market is down. It's all well and good hoping that the unit price recovers - but it's the market which is dictating the unit price in the short term ... so watch the XJO to get a feel for what the fund is doing.
