ASX Shares QV Equities Share Purchase Plan - 2017 (QVE)

Webinar is over, I missed the first 5 minutes or so. First time I have taken the time to listen to something like this so I found it interesting, need to get to a few AGMs, I believe you end up learning by osmosis. Need to keep in mind there are always vested interest in such things.

From the presentation it seems QVE is pretty much singing from the same song book as many of us (or what we want in an LIC), that is they are focused on identifying companies that;
- Have earnings that are predictable (as much as possible without a crystal ball) and recurring (generally avoiding mining and construction)
- Competitive advantage within their industry
- Generally industry leaders, top 3 companies in an industry which due to market share, buying power etc have an advantage over smaller players
- Growing
- Capable management

I found the info on identifying growth companies interesting, although I didn't take notes on all the points . Anton talk about "contracted growth" for companies like utilities, as the gov regulates the industry they might have a 4 or 5 year contract that will show growth each year so earnings and grow is more predictable. Increasing market share was another thing they looked at.

Anton's view appeared to be it remains a challenging market though opportunities exist. Which seemed to be a way of saying you need QVE to manage your money but we can't guarantee anything

Definitely worthwhile

 

OK, I attended the webinar today. Here are some things I jotted down. I was working at the same time, so forgive my disjointed ramblings. Also, disclaimer: it is my best effort to paraphrase. Don't take it as an exact replication of QVE's words or intent.

1. QVE/IML is focused on income and focused on the retail investor.

2. Most resource / construction companies don’t know what they will be earning in 2-3 years themselves. So dividends are often erratic.

3. Top 20 can give you overtly concentrated portfolio with just 2 or 3 sectors. Ex-20 gives you a bit more of diversity.

4. Ex-20 will be less researched so presumably more opportunities to find that undervalued company (example, PACT Group, SHL etc.).

5. Many investors are underweight in this (ex-20) sector of the market.

6. Don’t get too hung up about performance against benchmark. It is about capital preservation and income. “Better to understand what you own and be comfortable”. Don’t focus on price fluctuations in the short term.

7. Capital raising is done to be ready for good opportunities in the future.

8. QVE will be patient and will not look at spending it in a day.

Anoton T was his usual unflappable self. Not one for hyperbole or verbal ornamentation. I continue to like QVE's focus on industrial shares and will likely participate in their SPP later this month. SPP packs to be sent out today.

NOT advice.

 

I assume the webinar will posted online fairly soon.

 

As @austing rightly predicted, QVE webinar presentation link has been updated online.

http://qvequities.com/files/161026_Investment-Update_slides.pdf

 

Nope.

 

QVE Latest NTA:
http://www.asx.com.au/asxpdf/20170308/pdf/43gmtpxpnvg7kk.pdf

NTA needs to be reduced by 2 cents as cum-dividend. So pre-tax NTA on 28 Feb is $1.1424 ex-div. I haven't adjusted for NTA movement since end of month. But as this stage the SPP at $1.22 Is looking expensive on an NTA basic.

Perhaps those interested in the SPP should wait till the day before it closes on 24 March before making a decision. If you BPay at least 24 hours before closing date you should be fine.

SPP Booklet:
http://www.asx.com.au/asxpdf/20170302/pdf/43ghk65fjm3m1f.pdf

 

austing,

I have BPAY'ed full allocation, now I am doubting my self because QVE on the market was available today at 1.26. If it continues to slide, doubt lot would subscribe they would just buy it off market.

 

Don't fret over it. It's just one of many purchases you will make over your lifetime.

I prefer it when the SPP offer is the lowest of a set price or discount to volume weighted average of share price over 5 days prior to closing date.

Again as I said over the long term it's not a big deal but perhaps next time when a fixed price only is offered with the SPP wait till the latest possible moment before making a decision.

You're investing with a great mgr so focus on how well they will put new cash to work for you.

Hope I make sense. Neighbours felt sorry for me with wife away so invited me over for lots of food and drink.

 

not that there is a need to in this case, but you can submit the bpay on the day of closing, a few minutes before time of closing (have done many times). its on the bpay website. its the date/time bpay was submitted, not received. but dont take my word for it

 

$1.35 - might go and break the piggy bank and see how much I can buy. Still more than a week to go before SPP closes.

 

I will wait until the 23 March to make a decision. In any event, it will take me that long to line things up cash wise.

 

Anyone lining up for this SPP this week or its still wait and watch approach?

 

Still thinking about it. Will wait and watch how this week unfolds. The rational part of me says just buy it and I won't give a rats in 10 years time if I paid $1.22 or 1.20 or whatever. I like QVE's slow and steady approach and I don't have the slightest illusion that I can research and purchase the kind of stocks that QVE targets by myself and at the right price.

If I do it, it will be $10K only as my split is drawn out for that amount.

Not advice.

 

Nearly down to $1.22 now.

 

Yeah, definitely reaching no point territory here, especially given that you've got a two week gap between making the decision to commit and the time the shares are actually tradeable when you can just buy on market for nearly the same price at the moment.

 

Just checked my account, QVE shares have been allocated in full for my investment amount.

Its not a bargain as share price is just 1.24 and placement was for 1.22, however its a bottom drawer so happy with it