re: Ann: Ceasing to be a substantial holder f...
Good to see someone else posting, Sloanrunner.
I just looked up Hunter Hall (HHL). Their funds under management fell by 29% in 2012 and at the AGM they announced that they had fallen by another 5% so their funds have fallen by 34% in 16 months due to redemptions and distributions.
When my investments like STS fall in price, I buy more but fund managers don't have that freedom. When things are going badly, their customers demand their money back and the fund managers have to sell their losers to get the money as they have done here with STS.
I am certainly forming the view that these sales have very little to do with STS and much more to do with the problems being faced by HHL.
I should point out though that HHL announced sales of 8,106,655 shares in their statement but they held 11,708,806 shares as as 31 August. So they could still have 3,602,151 shares to sell and they won't have to tell us when they are sold because they are no longer a substantial shareholder.
GPASAS
STS Price at posting:
46.0¢ Sentiment: Buy Disclosure: Held
