marktime1231
17 May 2018
Re: Buyback Good point well made, let's hope this isn't the peak then.Discount today was 7.5%, at last the manager is acting on the Trust discretion to buy back beyond 2%. I would be happy for them to keep going, buy back 1 or 2 million and send the message that BRCI is under-valued, so long as to do so they are using spare cash or selling duff stocks and keeping the good ones.All will be forgiven if the sp surges to 95p on prospect that the dividend is being restored, the manager can then resell these shares and more at a premium and bank a cool profit.
fabrav
15 May 2018
Buyback Again, anything to increase NAV is welcome, but I am confused as to why they carry out the buybacks at the peak and not in the trough.
marktime1231
11 May 2018
Re: Powerful momentum zoom zoom in fact, reported NAV up to 88.37p including a penny in cash from income already while only mid-quarter, BRCI trading around 82p is approaching 8% discount.Big oil like Exxon and miner stocks like Rio which underpin BRCI are still rocketing ahead, so the NAV itself has some catching up to do. My forecast of 90p by early June was bold but not bold enough at this rate.Hold tight everybody and sorry for wittering on but this is rare excitement.If there is a restored dividend to come then add another 10p.
marktime1231
10 May 2018
Powerful momentum in the NAV now approaching 87p. Commodities surging, copper and steel in demand not just oil. A firmer USD providing a tailwind. My central bet is that NAV hits 90p before the next dividend announcement in early June. The sp will catch up as the current 7% discount narrows in anticipation. It is just possibly too soon for an increase on the quarterly 1p this time round, but that moment keeps getting closer.Trying to be patient and enjoy the bright blue row in my portfolio a while longer.
marktime1231
04 May 2018
Top of the range I typically have held on to BRCI, but despite the yield dropping off as a consequence for once I am tempted to hold on a bit longer. Three reasons ...1) the underlying NAV keeps powering ahead, opening up 6% on the sp, thanks to buoyant commodity prices showing through in the key holdings2) income is flowing in at its fastest ever rate3) whether or not that is enough to persuade management to make the overdue decision to up the dividend, speculation leading up to the announcement in June will fuel demand anyway.We should see another 5-10p on the sp in the next 5 weeks. Bold outlook I know, and I am not so confident that I am prepared to add to my already full basket, but NAV is already 84p so for now I am holding on.Oh, and GS are reported this week as saying commodities are at their most investable for a decade. Actually GS where have you been, it is a bit late for bargains, but the big stocks are still good value is I think what they mean and outlook still positive. For example BP at 550p is a 5 year high but we could see 600p and maybe more when they raise the dividend at oil approaching $80.
Windlesham Don
05 Mar 2018
Re: A Question... Thanks guys for some very interesting opinions. I shall take a closer look at the BRCI holdings and monitor the NAV to see if a good buying opportunity presents itself.Best of luck,
BeaglePup
05 Mar 2018
Re: A Question... I agree with all of WordBodger's observations. As a consequence I've not only switched from BRWM to BRCI for the income stream, but I'm also into ALAI due to a belief that Latin America has a lot to offer in the Medium and Long terms, and this IT offers a good income stream. I do have a direct BP holding alongside, but I'm putting more into the IT's now. My next big investment will be into renewables via TRIG though, as a sort of hedge but I think fossils and renewables will both prosper and be complementary in the Medium and Long term.(obviously I diversify with other non-resources holdings, I'm just commenting on relevant investments here)
Wordbodger
05 Mar 2018
Re: A Question... I think it's just that the commodity Oil is historically important, and it hit a crisis point when the PoO fell 75%. Since then the PoO recovered somewhat, and the Big Oils did too but not more than Big Miners. Oils are still overhung by Shale which seems to get ramped up easily enough. Also the Big Miner prices have returned to normal after a good two years, so Oil is still lagging as a commodity. If Oilers have lagged they may have further to go than the Miners. I think so anyway, which is why I made the same bet as BeaglePup below.FWIW there seems to be growing confidence that the present range of PoO is sustainable, but if (eg) Venezuela production returns, and Iran, there will be lots of supply. So Big Oil is concentrating on lowering the break-even point, not dreaming of a return to $140/barrel. That might make current generous payouts by BigOil sustainable, which will continue their sp recovery.I just think the effect of Renewables is a consideration for the long term. Its likely effect on the stock market is to dampen expectations of price rises from drilled oil/gas or mined coal, and may have a bigger effect on oil company costs than revenue.(Just opinions from a bloke posting anonymously on a bb under a pseudonym. But I do hold BRWM and BRCI. Warning: Share prices may plunge and you and your family might walk the streets begging for a crust. Or indeed you may be the next George Soros.)
Windlesham Don
02 Mar 2018
Re: A Question... FRTEB, my question was related to why the SP has underperformed when measured against BRWM. BRCI has the ability to hold oil majors who have outperformed, plus the miners held by BRWM, yet the SP performance over 18 months is significantly below BRWM.I was musing over the cause of this underperformance, which may be due to it holding companies in the renewables sector which may have underperformed. It was a question rather than a statement...
vb6
02 Mar 2018
Re: A Question... Price wise renewables have not out performed over the passed year.Yours Oililyvb6
FRTEB
02 Mar 2018
Re: A Question... " Does it have exposure to renewables which are currently not delivering " Not delivering? On what metrics? If you're talking about dividend yield then your statement is incorrect. Take a look at TRIG, BSIF and JLEN, amongst others, as examples. (disclosure: I hold all three + BRCI and BRWM).
Windlesham Don
02 Mar 2018
A Question... I hold BRWM and have done in varying amounts for over 5 years. I have also taken an interest in BRCI because of its exposure to oil majors, as well as miners, and its juicy yield.However, looking at the charts of BRWM and BRCI over the last 18 months, BRWM have significantly outperformed. To me this seems odd, as BRCI can diversify into the oil and gas industry, which have also performed very well over the given period, certainly if RDSB and BP are anything to go by.I have been monitoring this IT for around a year now, and have wanted to find a reason to buy it as currently I hold RDSB as well as BRWM, and would like to move out of single company holdings as far as possible.My question is: Why has it performed so poorly?Does it have exposure to renewables which are currently not delivering, or is there a more fundamental problem with the management of the trust?I'd love to be a holder of a trust like this, as it has many attractive features, but at the moment I cannot give myself a reason to buy...Regards,
marktime1231
01 Mar 2018
Is that irony if the yield from BRWM challenges the yield form BRCI?Actually BRCI is still a better income choice, the Q4 boost at BRWM a sign of things to come generally and an indication of its near-100% distribution policy towards surplus income. Distributions from the oil majors lagging the big miners and a lower charge through scale the difference?BRCI will start returning increased income in the dividend as soon as it is sure to be sustainable, it is a question of when not if BeaglePup so you have probably made the right long term choice at the rightish time with a bit of patience. Personally I am waiting for a rebuy price in the low 70's having lost patience waiting myself, but that is my fault not BRCIs. Unfortunately for me BRCI is a small fund wanting to be a bigger fund, their priority now is using policy freedom over its surplus cash to trade up the size and mix of the portfolio.Jam tomorrow.When the dividend is improved you will also get a twang in sp to beat anything BRWM is doing organically.
BeaglePup
27 Feb 2018
Re: Surprise to the upside Bleedin' typical. I just switched from BRWM to BRCI as part of the move from being growth-focused to income, in anticipation of retiring late this year. At least I crystallised some excellent growth in BRWM. If BRCI will now increase the divi I shall be pleased.
Wordbodger
26 Feb 2018
Re: Surprise to the upside BRWM upped the final dividend from trailed 4 pence to 6.6 pence (Monday after hours RNS).Hoping for similar. 5 pence a year instead of 4 pence would lift the sp.
