just doing some research on the web about the major shareholders in IHG...and again i come up with the same question....why are these people taking such an interest/position in IHG....ingot capital managment pty ltd which released a substantial holders notice during feb. control the Utilico trust and the Stocks convertible trust..both of which are reputable investment vechiles with solid returns to back their descions...firstly here is some info on Utlico
Utilico Overview Financial profile Performance data Announcements Fund management group
Basics Objective: Long term capital growth through predominantly globally developed utility and related sectors.
Fund manager: Duncan Saville (May 2004) Mark Lebbell (May 2004) James Smith (May 2004) Charles Jillings (May 2004)
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Fund management group: Ingot Capital Management (Utilico)
Board of Directors: Alan E Wheatley (Chairman), Andrew Charles Barker, Charles Jillings, Dr Roger J Urwin, Eric St Clair Stobart
-------------------------------------------------------------------------------- Investment focus Sector: Split capital trusts - Sector Specialist: Utilities FD Allocated Benchmark index: FTSE WI World
Utilico Overview Financial profile Performance data Announcements Fund management group
Financial make-up Total assets (£m): 212.42 Total debt (£m): 54.98 Debt cover (total assets divided by debt): 3.86 Updated 25/02/2004 What to do next Request report & accounts How to invest in this trust Print this page About trust profiles
-------------------------------------------------------------------------------- Operating costs and expenses Management Agreement: For their advisory services, Ingot will receive a basic annual fee of 0.5% of the Company's gross assets, payable semi-annually in arrears. A performance-related fee will also be payable, based on the extent to which the Company's new Ord NAV outperforms the after-tax real income yield on UK Gilts. The fee will be equal to 15% of ther per-share excess multiplied by the time-weighted average number of shares in issue during the calculation period. F&C Management Ltd will act as the administrator and secretary to the Company and will receive a fee of £250,000. This is terminable upon 12 months notice in writing by the Company. JPMorgan Chase Bank will act as the custodian and their contract is terminable upon 60 days notice by either party. They will receive fees subject to a maximum transaction fee of £200 and an annual maximum safe-keeping custody fee of 1.2% of the value of the Company's gross assets.
-------------------------------------------------------------------------------- Capital structure Listed in order of entitlement Type of share Total assets (£m) Market cap. (£m) Entitled redemption value at wind up (£m) Wind-up date 1. Debt 54.98 2. CUL 20.04 24.12 30/11/2009 3. ZDP 47.74 59.71 96.14 31/10/2012 4. Ordinary Income 97.88 138.79 31/10/2012 Updated 25/02/2004 -------------------------------------------------------------------------------- Key investment areas Updated 28/02/2005 (estimated, based on 31/01/2005) Geographical Sector Industry Sector % of Total Assets UK Utilities 45.119 New Zealand Utilities 22.271 Australia Utilities 11.127 Bermuda Utilities 8.017 Switzerland Utilities 4.09 Brazil Utilities 3.406 Germany Utilities 2.959 China Utilities 1.013 Hong Kong Utilities 1.009 USA Utilities 1.002 Slovenia Utilities 0.97 Cash & Fixed Interest Net Current Assets -0.982
-------------------------------------------------------------------------------- Investments Updated 31/12/2004 Holdings % of Total Assets Infratil Ltd 13.7 International Energy Grp 10.1 Utilico Limited 8.3 East Surrey Holdings 8.2 ERG 7.2 Simon Group (UK) 6.6 Ecofin Water & Power Opps 5.9 Jersey Electricity 5.8 Belco Holdings 3.8 Unique Zurich Airport 3.7
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Important notes: The share classes above are listed in order of entitlement to repayment of capital (after repayment first of any prior charges). For every split, there is a predetermined sequence in which the various classes of share are repaid. Although the entitlement or redemption value may be predetermined, this is not a guaranteed return and depends on the assets and revenue available within the trust. Investors should be aware of the presence both during the life of the trust and at wind-up, of the rights and entitlements of any prior charges and of the various share classes within the split structure. The more complex the structure and the further down the chain of entitlement to repayment of capital the greater the potential return and risk.
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Utilico Overview Financial profile Performance data Announcements Fund management group
Daily overview What to do next Request report & accounts How to invest in this trust Print this page About trust profiles
Share type Price (p) NAV (p) - Discount / Premium (%) Gearing (100=no gearing. 110=10% gearing) Div Yield (%) Redemption Price (p) CUL 120.3 ZDP 110.3 105.6 177.50 Ordinary Income 150.8 152.4 -1.1 177 1.06 Warrants 60.0 2
Updated: 25/02/2004
View theMIS for Monthly comparable data tables of AITC members.
Historical performance data is calculated with or without income reinvested. The term total return is used below to indicate the return on capital, with income reinvested. The figures below include the original £100 investment. Please refer to the About trust profiles for further information.
ZDP 1 year 3 years 5 years FD/AITC price index - capital 117.0 116.0 117.0
Ordinary Income
Ordinary Income 1 year 3 years 5 years FD/AITC price index - capital 124.0 54.0 25.0 FD/AITC price index - total return 137.0 79.0 44.0
-------------------------------------------------------------------------------- FD Allocated Benchmark Index 1 year 3 years 5 years FTSE WI World - total return 111.4 99.1 84.3 FTSE WI World - capital return 109.1 93.0 76.9
If a field in the above tables is blank the data it is either not calculated, available or applicable.
The share price performance figures on this website are calculated on a mid-market to mid-market basis, making no allowances for charges that occur at the time of transaction. Transaction costs include dealing charges, stamp duty on purchase only, charges for advice and/or charges to buy or sell within a wrapper product. Performance figures are for lump sum investments only and not for regular savings plans.
You should be aware of the risks associated with equity investments. Actual results and developments may be materially different from past performance and from any forecast, opinion or expectation expressed on this website. Past performance must not be relied on as a guide to future performance.Market and currency movements may cause the value of investments and the income from them to fall as well as rise and you may get back less than you invested when you decide to sell your investments.
Stocks Convertible Overview Financial profile Performance data Announcements Fund management group
Basics Objective: Invests in a portfolio of convertible securities in Australia and globally.
Fund manager: Maurice Bass (Apr 1996) Duncan Saville (Apr 1996)
Fund management group: Ingot Capital Management (Stocks Conv) What to do next Compare with other trusts in this sector Request report & accounts How to invest in this trust Print this page About trust profiles
Board of Directors: Anthony F Bushell (Chairman), Peter Irving Burrows, Warren John McLeland, Bruce Hervey
-------------------------------------------------------------------------------- Investment focus AITC Category: Global Growth & Income FD Allocated Benchmark index: S&P/ASX 200 Index Fund Manager Benchmark index: Australia Smaller Capital
-------------------------------------------------------------------------------- Calendar Launch date: 03/04/1996 Financial year end: 31/05/2005 Dividend dates: 09 Jan 009 Wind up provisions: The fund has an unlimited life. The Directors have the authority to allot relevant securities up to an aggregate nominal amount of £1,001,000 provided that that this authority will expire on 13/10/09. The directors are empowered pursuant to Section 95 of the Act to allot equity securities for cash pursuant to the authority available to the Directors under Section 80 of the Act as if sub-section (1) of section 89 of the Act did not apply to any such allotment provided that this power shall be limited: (i) to the allotment of equity securities in connection with a rights issue; or (ii) to the allotment of equity securities up to an aggreagate nominal value of $150,162; and shall expire on the date of the next AGM or the date 15 months earlier.
-------------------------------------------------------------------------------- Capital structure Number of shares Notes Ordinary 12,014,657
Stocks Convertible Overview Financial profile Performance data Announcements Fund management group
Financial make-up Total assets (£m): 26.11 Market capital (£m): 15.74 Number of shares: 12,014,657 Gearing: 131 Updated 25/02/2005 What to do next Compare with other trusts in this sector Request report & accounts How to invest in this trust Print this page About trust profiles
Note: Transition of the Company: The Company's investments are still principally in Australia and New Zealand but they will be progressively realised and the proceeds invested in convertible securities worldwide.
-------------------------------------------------------------------------------- Operating costs and expenses Fitzrovia Total Expense Ratio (TER) %: 3.33 TER Date: 31/05/2004 Note: The above published TER is the Post Tax NAV TER.
Management Agreement: Management agreement with Ingot Capital Management, terminable on one year's notice. Management fee at the annual rate of 0.5% of gross assets less current liabilities (Previously 0.4% until 01/06/03), plus an incentive fee subject to a hurdle rate, if the Company's performance exceeds the benchmark (temporarily the Australian Small Cap Index). This agreement is terminable by either party on one years notice. Phoenix Administration Services Ltd provide administration services to the Company for which they receive an annual fee of £70,000. This agreement is terminable by either party on three months notice.
-------------------------------------------------------------------------------- Key investment areas Updated 28/02/2005 (estimated, based on 31/07/2004) Geographical Sector Industry Sector % of Total Assets Australia Finance - General 48.7 UK General Equity 15.5 Australia Miscellaneous 14.4 Australia General Industrials 6.6 Cash & Fixed Interest Net Current Assets 4.8 New Zealand Miscellaneous 4.0 New Zealand Debt - General 3.2 UK Debt - General 1.7 USA Derivatives (War Opt Fut) 0.6 USA Debt - General 0.3 European Regional Dev'd Debt - General 0.1 Australia Debt - Government 0.0
-------------------------------------------------------------------------------- Investments Updated 30/06/2004 Holdings % of Total Assets Trust Co. of Australia 43.3 ERG 10.4 Reinsurance Australia 3.8 ebet 10% Redem Conv Notes 3.7 Global Equity Market Secs 3.4 Reinsurance Aust Corp 2.7 Village Roadshow Pref A 1.9 Ebet Ltd 1.7 JDV 1.2 Tower 0.6
Historical performance Historical performance data is calculated with or without income reinvested. The term total return is used below to indicate the return on capital, with income reinvested. The figures below include the original £100 investment. Please refer to the About trust profiles for further information.
-------------------------------------------------------------------------------- Ordinary 1 year 3 years 5 years Share price - total return 113.0 246.9 239.3 Share price - capital 112.0 231.9 213.0 NAV - total return 112.6 214.3 234.9 NAV - capital 111.7 204.5 215.0
-------------------------------------------------------------------------------- FD Allocated Benchmark Index 1 year 3 years 5 years S&P/ASX 200 Index - total return 128.4 155.4 170.9 S&P/ASX 200 Index - capital return 123.1 137.2 141.2
If a field in the above tables is blank the data it is either not calculated, available or applicable.
The share price performance figures on this website are calculated on a mid-market to mid-market basis, making no allowances for charges that occur at the time of transaction. Transaction costs include dealing charges, stamp duty on purchase only, charges for advice and/or charges to buy or sell within a wrapper product. Performance figures are for lump sum investments only and not for regular savings plans. See table explanation: About this table (above).
You should be aware of the risks associated with equity investments. Actual results and developments may be materially different from past performance and from any forecast, opinion or expectation expressed on this website. Past performance must not be relied on as a guide to future performance. Market and currency movements may cause the value of investments and the income from them to fall as well as rise and you may get back less than you invested when you decide to sell your investments.
Data copyright Fundamental Data Limited
and these sophisticated investors have taken a 19.9% stake in IHG....and they also have ties with Finmedia another of the sophisticated investors
in regards to GPG's subsiduary Sabatica pty tld,they released their substanial holders notice the other week...now with a total holding in IHG of 181,014,400 shares or 18.03% of IHG.the breakdown of this being-$5,151,835 for 130,933,400 shares = .039 avg. and $12,355,227 for 50,081,000 shares = .2467 avg. at a total of $17,507,062 for 181,014,400 shares = .0967 avg.
the above is the reason as to why we are still in this stock.why are these well respected investment firms willing to invest their shareholders money into a company such as IHG..between Ingot Capital Managment pty ltd and GPG pty ltd they have $23,710,262 invested in IHG and 37.93% of the shares ...it seems to me that these guys look for turn around compnaies get in at rock bottom and ride them up once they have one or more of their own sitting on the board....dont be surprised to see someone from Ingot on the board of IHG...........surely they can see something around the corner that perhaps some of the posters on H/C cant seem to see
IHG Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
