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New Baillie Gifford US Trust
Mickey
Posted: 08 March 2018 16:48:17(UTC)
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Press Release issued today https://www.bailliegifford.com/en/uk/individual-investors/literature-library/press-releases/baillie-gifford-us-growth-trust-plc-launch-of-offer-period/

Not yet showing on the HL IPO page but the closure date is not far off for this one.

Hank Elvis Dobbs (texan)
Posted: 08 March 2018 17:00:25(UTC)
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"significant exposure to unlisted investments" ...mmm...where've we heard that before...
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what me, worry? on 11/03/2018(UTC)
Sara G
Posted: 08 March 2018 18:43:53(UTC)
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I believe you can get extra shares if you buy through Interactive Investor...

Hank, if you are referring to WPCT, yes good point, but I think there is more expertise at Baillie Gifford in this area... possibly some of the potential holdings will have been identified through research undertaken by the managers of EWI and SMT. I must say I am a bit tempted by this one, although generally wary of IPO's.
Hank Elvis Dobbs (texan)
Posted: 08 March 2018 19:08:32(UTC)
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deja vue
Narendra Dhariwal
Posted: 09 March 2018 08:07:46(UTC)
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Better to wait and watch rather than jump in.Most ITs fall to a discount after a while.e.FEET,WPCT etc.Some even get pulled.If you want exposure to smaller tech stocks get EWI or SMT.
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what me, worry? on 11/03/2018(UTC)
Keith Cobby
Posted: 09 March 2018 08:13:09(UTC)
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I am going in when offered through the BG savings plans.
Rishan
Posted: 09 March 2018 09:13:50(UTC)
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Keith Cobby;58442 wrote:
I am going in when offered through the BG savings plans.


me too.

Nigel G
Posted: 10 March 2018 11:41:41(UTC)
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Mickey;58407 wrote:

Not yet showing on the HL IPO page but the closure date is not far off for this one.

HL's IPO page has been updated.

www.hl.co.uk/__data/asse...571/Factsheet-Baille.pdf

www.hl.co.uk/__data/asse...tion-Document-Baille.pdf
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Mickey on 10/03/2018(UTC)
Mickey
Posted: 10 March 2018 12:44:19(UTC)
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Nigel G;58490 wrote:
Mickey;58407 wrote:

Not yet showing on the HL IPO page but the closure date is not far off for this one.

HL's IPO page has been updated.

www.hl.co.uk/__data/asse...571/Factsheet-Baille.pdf

www.hl.co.uk/__data/asse...tion-Document-Baille.pdf

Thanks for that. I rang them yesterday and they thought the IPO would be available from Monday. it's only open for a short time so the extra time is useful.
Big boy
Posted: 10 March 2018 14:24:10(UTC)
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Can anyone tell me what premium they are being issued at???
john_r
Posted: 10 March 2018 15:28:14(UTC)
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Big boy;58497 wrote:
Can anyone tell me what premium they are being issued at???

Somewhere in the fact sheet it suggests 1.5% max set up expenses.
i.e. the fund initial NAV will be minimum 98.5% of subscriptions.
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Big boy on 10/03/2018(UTC)
Hank Elvis Dobbs (texan)
Posted: 10 March 2018 17:33:25(UTC)
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Big boy;58497 wrote:
Can anyone tell me what premium they are being issued at???



Investment trusts aren't issued at a premium or indeed a discount but at an offer price ...in this case £1 but as the prospectus states and Jonno confirms there are, of course, costs involved which reduce the value of the funds actually raised.Now... success of the issue all depends on the amount raised ..
eg if it is oversubscribed and closed early then it is likely that on the first day of trading the shares open at a premium above the issue price and of course the Nav...Conversely if the amount raised is dissapointing (but above the minimum) then the share price might open below the NAV and therefore trade at a discount.

And there's the dilemma...so in the words of Clint Eastwood .."do you feel lucky ..?"

Now ..With the trials and tribulations of Mr Woodfords fund still causing so much misery its a tough one to call for the 'stags'..But all that should be immaterial to the serious long term investor

What matters is whether you feel that the manager will perform ...if the answer is yes whether you pay the issue price or a bit more or indeed less should be of no consequence.

Thing is ..everyone knows that buying a new car is pure folly ...but lot's still do it ....
3 users thanked Hank Elvis Dobbs (texan) for this post.
Luca Brasi on 10/03/2018(UTC), Mickey on 11/03/2018(UTC), Sara G on 12/03/2018(UTC)
Big boy
Posted: 10 March 2018 18:43:55(UTC)
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A good responce Hank........In the past total costs were much higher. Having been on both sides of the fence I would not look at "staging" an issue like this.....In most cases the issuing house wishes to max on numbers and will tend to issue at the top of the market when buyers will flood in. Investors tend not to support issues when markets are low.
Hank Elvis Dobbs (texan)
Posted: 10 March 2018 19:16:58(UTC)
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yer foolin no-one mate
Tony Peterson
Posted: 10 March 2018 20:03:44(UTC)
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I'm really looking forward to seeing "An Issue Like This" next time I visit the West End.

Last good play I saw was Enron.

Unlikely to be stagging anything in the City though.

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