NAVF.U Quarterly Statement

DK · 1 NAVF.U Quarterly Statement Wed May 11, 2011 9:57 pm

DK

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NAVF.U Quarterly Statement as of 31-03-2011 is out. Will update this post with additional calculations later.

At a glance:
Banks (COMB.X, HNB.X only) : 21% of portfolio
Diversified Holdings (SPEN.N, CTHR.N only) : 12% of portfolio
Hotels (AHUN.N, BHR.N, PALM.N) : 29% of portfolio

They've let go of KGAL and ACME.

DK · 2 Re: NAVF.U Quarterly Statement Mon May 16, 2011 9:22 pm

DK

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Hi Guys
Many apologies on this one, I seem to have made a blunder. I just read the numbers off of page 11 of their quarterly statement when I posted this, but when I was trying to match their portfolio with the Mar announced NAV, they did not match. I think there is a typo in the calendar period. Let me check up on this and post back.

factFINDER · 3 Re: NAVF.U Quarterly Statement Mon May 16, 2011 11:21 pm

factFINDER

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"In numerical terms the fund returned a positive 2.01% for the 3 months ending 31st march 2011, whilst the benchmark ASPI enlarged by 8.89% and the more volatile Milanka index returns were negative at 2.64 %. It has to be noted that the majority of counters in the fund are more in concurrence with the Milanka index rather than the ASPI and to this effect the return on the fund was superior to its target benchmark. In our opinion, the fund performance though somewhat suppressed has to be taken in conjunction with our on the whole objective; Investment return but with proper risk mitigation."

In final abridgment, according to our technical findings the- MACD & RSI, the market at current levels is in a position of indifference i.e. neither overbought nor oversold. We see the somewhat wide valuation dispersion evident at the present time as a signaling mechanism to seek out value stocks that are mispriced.

STOCK (2011-%)(2010-%)
COMB-X (7.29%)(11%)
HNB-X (5.63%)(10%)
CTC (2.84%)(3%)
DIST (4.29%)(0%)
CIC-N (2.73%)(0%)
Cheminex (0%)(5%)
CTHR (22.43%)(12%)
SPEN (7.10%)(10%)
JKH (6.57%)(0%)
HYLS (2.96%)(0%)
Durdens (5.64%)(7%)
AHUN (12.08%)(10%)
SERV (3.36%)(0%)
Confifi (0%)(15%)
Reveria (0%)(4%)
ACMI (2.81%)(0%)
ACL (4.14%)(6%)
KGAL (1.83%)(0%)

Were there any special reason for holding 22.43% in CTHR? Is it undervalued or with grater potiential??
Can we see some expert view on QUALITY of NAVF.U's Portfolio .... please.

factFINDER · 4 NAVF.U Wed May 18, 2011 7:53 am

factFINDER

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As per last (2009/2010) annual report, about 88.35% of total units owned by top 4 unitholders;
DFCC Bank - 27.90% (Promoters)
HNB - 27.90% (Promoters)
Central Finance - 18.60%
ERI (GREG) - 13.95%

Anyone knows whether all 4 of them still hold those units? Specially CFIN & GREG.

cse.alpha · 5 Re: NAVF.U Quarterly Statement Wed May 18, 2011 8:18 pm

cse.alpha

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factFINDER wrote:

Anyone knows whether all 4 of them still hold those units? Specially CFIN & GREG.

GREG sold their NAVF stake over six months ago, around the Rs60-70 price range I think.

Other 3 major shareholders still hold I believe.

factFINDER · 6 Re: NAVF.U Quarterly Statement Wed May 18, 2011 11:06 pm

factFINDER

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cse.alpha wrote:

factFINDER wrote:

Anyone knows whether all 4 of them still hold those units? Specially CFIN & GREG.

GREG sold their NAVF stake over six months ago, around the Rs60-70 price range I think.

Other 3 major shareholders still hold I believe.

@cse.alpha

Can you make any comments on the quality of their portfolio? Specially their excessive exposure to CTHR.....