Personal Assets Trust

[SoBo65]

I don't know if I have missed something, but looking at the PNL website, I cannot see the last years results to 30th April 2020, last year they were announced on 6th June. Also it is mentioned that the Annual Report and Quarterly will be sent in June 20 - but does not seem to have been the case. Any information would be welcome?

[SoBo65]

I don't know if I have missed something, but looking at the PNL website, I cannot see the last years results to 30th April 2020, last year they were announced on 6th June. Also it is mentioned that the Annual Report and Quarterly will be sent in June 20 - but does not seem to have been the case. Any information would be welcome?

The link on HL's website downloads a pdf of 2019 results too. The link to the interim report is dated October 2019 when you download from the HL website.

RVF.

Thanks, but it is the results to 30th April 2020 I am looking for which last year were announced on 6th June 2019- The website says the annual report would be available in June 2020.....

[SoBo65]

Yep emailed them yesterday got an OOO...

[Dod101]

The OP may like to note the 30 April 2020 Quarterly Report on the website which tells us that in view of the (then) developing Covid19 crisis they had decided to postpone the AGM until September and that it was expected that the Annual Report would be sent to shareholders in July. I suspect that that has meant a delay in announcing their results to 30 April. That seems to be quite common at the moment.

Dod

[Aminatidi]

On the assumption those on this thread hold PNL any views on pros and cons v Capital Gearing Trust?

I hold both in roughly equal quantities and both are around 40-45% of my portfolio.

Ignore if this thread should be just about the annual report but this seemed a timely reminder as I've just been watching the CGT annual report presentation.

[Dod101]

Not Guilty. I have not held PAT for some time.

Dod

[SoBo65]

On the assumption those on this thread hold PNL any views on pros and cons v Capital Gearing Trust?

I hold both in roughly equal quantities and both are around 40-45% of my portfolio.

Ignore if this thread should be just about the annual report but this seemed a timely reminder as I've just been watching the CGT annual report presentation.

Thanks for mentioning the CGT AGM Presentation, I have now watched following your comment. I hold both PNL and CGT which collectively total 35% of my portfolio. I am satisfied with both, I sense PNL is undergoing some changes with the changing of the guard, but having met a number of the people from Troy at various presentations this does not cause me any concern. I like the decisive way CGT acts is taking opportunities, PNL seem a bit more cautious. I may add more to CGT over the coming weeks which is the lower proportion as I do believe inflation will be a problem in the medium term as politicians will not resist as a partial way out of the current problems and I am not particularly keen on direct investment in property. I also holder smaller positions in RIT and RICA (Ruffer), but often struggle with that one to understand what the strategy is and see it as a place to park some surplus cash given no stamp duty on purchases.

[Aminatidi]

On the assumption those on this thread hold PNL any views on pros and cons v Capital Gearing Trust?

I hold both in roughly equal quantities and both are around 40-45% of my portfolio.

Ignore if this thread should be just about the annual report but this seemed a timely reminder as I've just been watching the CGT annual report presentation.

Thanks for mentioning the CGT AGM Presentation, I have now watched following your comment. I hold both PNL and CGT which collectively total 35% of my portfolio. I am satisfied with both, I sense PNL is undergoing some changes with the changing of the guard, but having met a number of the people from Troy at various presentations this does not cause me any concern. I like the decisive way CGT acts is taking opportunities, PNL seem a bit more cautious. I may add more to CGT over the coming weeks which is the lower proportion as I do believe inflation will be a problem in the medium term as politicians will not resist as a partial way out of the current problems and I am not particularly keen on direct investment in property. I also holder smaller positions in RIT and RICA (Ruffer), but often struggle with that one to understand what the strategy is and see it as a place to park some surplus cash given no stamp duty on purchases.

Yes I did hold a small amount in RICA twice but both times walked away shaking my head thinking "what's the game plan?".

I tend to have a simplistic outlook which is that PNL and CGT seem places that I could happily park all of my "cautious" investments but I don't know many people who have all their investment risk with one style or manager (company or individual).

I notice PNL have been ramping up equity exposure and again in my simplistic view I trend to think of CGT as a team of people trying to hunt out overlooked investment opportunities whilst I think of PNL as more of a "cautious Fundsmith" with the style of companies it seems to hold.

Perhaps better here as I don't wish to hijack.

viewtopic.php?f=54&t=14224

[richfool]

I have tended to favour PNL, which I believe has, or had, the highest proportion in government stocks and US TIPS of the three. I did note that PNL had added Alphabet to its top ten holdings. I don't currently hold PNL or the other two, about which I have replied on the other thread.

viewtopic.php?f=54&t=14224&p=323714#p323714

[richfool]

To: RNS
From: Personal Assets Trust plc
Date: 12 June 2023

Results for the year ended 30 April 2023

The Directors of Personal Assets Trust plc ("PAT") are pleased to announce the Company's results for the year ended 30 April 2023.
The key points are as follows:

· PAT's investment policy is to protect and increase (in that order) the value of shareholders' funds per share over the long term.

· Over the year to 30 April 2023 PAT's net asset value per share ("NAV") fell by 2.2%. This compares to a rise of 2.4% in the FTSE All-Share Index. PAT's share price fell by 22.00p(2) during the year and at 30 April 2023 was 481.00p. An analysis of performance is provided in the Chairman's Statement and Investment Manager's Report below.

See link:
https://www.investegate.co.uk/announcem ... 569315/PNL

I no longer hold PNL. (I do hold RICA)

[Dod101]

If I were to be critical of PAT, I am not sure that getting ever closer to the Troy Investment managers is necessarily a good thing. They are after all contractors to PAT not buddies but as I am no longer a shareholder I am not really concerned. The results are not that good for the last year but then they would say that they are looking much longer term and in that respect I think they would be right.

However I do not think that PAT can do much for me. I daresay its unique culture is probably more or less being maintained but it cannot be the same without Robin Angus and Hamish Buchan.

Dod