OPP/P – Origo Prefs / Ordinaries

Just bought a reasonable chunk (c6% portfolio weight) in Origo Prefs and a similar- c6% weight in the ordinaries.

Origo is a Chinese private equity investment trust. As you might imagine when you hear the words ‘AIM listed Chinese private equity trust’ performance has been disasterous. c500p in mid 2011 has become c1.5p now.  Putting a lighter to your money would probably have given you a better return.

In theory the ordinary has a NAV of 9p a share (June results) vs a market price of 1.5p –  so a decent return from here.

I am going for the prefs – trading at 0.30c vs hopefully a redemption at $1.00 – or a 3x return as well as the ordinaries.

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Symphony International Holdings (SIHL.L) Music to my ears ?

I have recently (Dec 13) created a position in Symphony International Holdings.  I bought at 74-75c per share.  7% Weight in my portfolio – which for me is medium – not the biggest position but far from the smallest.

This is something of an oddity.  It is a London-listed fund which purports to be a private equity fund.  In fact c76% of its portfolio is in listed Asian equities and cash.