Q&A Friday is published every Friday while there is demand. Email your questions to vern@vov.co.nz. We won’t publish your name.

St Laurence

Question: I have received a letter from Stock & Share Trading Company Pty Ltd offering to buy my class B secured debenture stock. They are offering 5 cents in the dollar. Is this a good deal? Should I take it? What would I get if I waited to get paid out by the receiver? 

James says: Stuff has a really good article discussing this and the offers made by Stock & Share including St Laurence, Strategic and Dorchester. I recommend reading the article: ‘Low-ball’ debenture bidder responds to questions – sort of.

Radius

Question: What is the position re Radius properties, can I sell my shares?

James says: The last annual report produced is for the year ending 31 March 2009. On page 2 they say the net asset backing of the fund was 93 cents at 31 March 2009. Although that is the latest formal valuation, the new directors and managers believe the net assets are materially lower than 93 cents. They are currently preparing the March 2010 accounts and through this exercise will be able to table a new valuation. This is likely to be available in about 6-8 weeks from today.

There is no current “market” for the shares. If you wish to sell the manager can retain your details and notify you when a buyer appears. His contact details are here:

David Glenn
Ascot Capital Management Limited
PO Box 691, Shortland Street, Auckland, New Zealand
Phone: 021 404-007
Email: david@ascotcapital.co.nz

About James Usmar

James was a qualified financial planner in the UK working for a tax consultancy firm. He specialised in investments through financial centres such as Jersey and the Isle of Man. James joined Saturn Portfolio as an investment adviser after immigrating to New Zealand in 2006.

About Saturn Portfolio

Saturn Portfolio is an investment advisory firm built on a history of trusted advice since 1988. They invest $160 million on behalf of clients. Four experienced client advisers work in the business. Saturn Portfolio is not aligned to any investment manager or product provider. This means they can freely select and recommend the most appropriate investments for you.

Their process is to discover and discuss your current situation, goals and investment knowledge. Once they assess your needs they give you a written plan, which they discuss with you and clarify any queries. They do not implement the recommendations until you give approval to proceed.

Importantly, Saturn Portfolio’s sole source of income is the fee you pay to them. They do not take any commission or brokerage from product providers. www.SaturnPortfolio.co.nz

This entry was posted on Friday 18th June 2010 and is filed under Vestar. Both comments and pings are currently closed.