Jupiter [discussion]

@Dougal1984

Today is THE day of Jupiter. :slight_smile:

Where does Thursday come from?

The first records of Thursday come from before 950. It comes from the Old English ThursdƦg, from Old Danish ThÅ«rsdagr, meaning ā€œThorā€˜s day.ā€ This is a translation of (or is modeled on) the Latin term diēs Jovis , meaning ā€œJupiter’s day.ā€ In many Germanic languages, the Roman god Jupiter was subbed out in favor of Thor, the hammer-wielding god of thunder in Norse mythology.

@random53 Here you go :slight_smile:

The Company is pleased to announce its Investment Adviser, Jupiter Investment Management Limited has entered into a cornerstone investment agreement with Revolution Beauty Group plc (ā€œRevolution Beautyā€) as part of its expected IPO, and that the Company anticipates investing approximately Ā£45 million as part of this process. Further details are available in Revolution Beauty’s Intention to Float announcement that has been released today.

https://profile.lsegissuerservices.com/upcoming-issues/RevolutionBeautyGroup

Hopefully the first of many successful IPOs for CHRY!

Well REVB has currently dropped 10%, although the IPO price I think was 160, it started trading at 168 and is now at 150 so :upside_down_face:

Happy to get a lower price just now to accumulate in expectation of Klarna and Starling. I don’t know much about Graphcore but they’re ticking a lot of boxes too.

It was a great podcast.
The more I learn about this fund the more impressive it gets.
It’s about a 4% weighting now in my portfolio. Excited to see what they invest in next.


Not 100% I’ve kept that up to date, but since about 20% of the trust is now liquid, I’ve been looking at a means to more accurately track its NAV given they only calculate it quarterly! I also took a stab that they used the ā€˜carrying value’ for WISE of 511.

If it is up to date, and I’ve not missed any material RNS’s that have revalued the other positions, then its only trading at a 12% premium to NAV and not 30% as some sources suggest.

CHRY NAV Update

The Company announces that as at 30 June 2021 the unaudited net asset value (ā€œNAVā€) per ordinary share was 233.93 pence.

And to note:

Wise has been valued with reference to the closing auction price at IPO of 800p

Wise is 5.7% of the fund and currently trading at 1000p. This adds a variable uplift of approx 3.3p (233.93 x 5.7% x (1000/800-1)).

All in all approximately 237p at today’s value.

Thanks for the update. Got a few buy orders open to average up to around the NAV.

Anyone know any reason I might have missed for the 5.75% jump today? New all time high by the looks.

Thats roughly where I think a fair NAV is at:

I know I’m not factoring in Revolution Beauty, which is up about 8% since IPO, but I think they were supporting the IPO process rather than taking a position.

Could it be related to this perhaps? Depending on the timing of the announcement, today may have been the first time for markets to react what with the bank holiday.

Possibly, or interest around what is happening with Klarna maybe?

More likely I’d imagine. I’d quite like to open a position but I fear I may be waiting a while for a ā€˜good’ entry point.

Just checked the RNS’s. The 90m was RNS’d 18/19th August.

I like the Trust, but when I think its trading at a what a 15% premium, I’m tempted to wait to top up.

I know MNTN and MNTC trade at higher premiums, but still I dont like over paying, and dont want to sell either :crazy_face:

So I updated my tracker of the NAV with the liquid assets:

Although currently trading at a premium, in comparison to similar trusts, its actually cheap!

https://it-insider-issue-57-consumer.webflow.io/private-equity-table

CHRY is getting back down to a reasonable ā€˜buy’ entry again:

image

Currently trading at 238. Guess we’ll need to wait another 3/4 weeks for the end September NAV. Couple of new holdings added, so interested to see what that throws into the mix. I also think WISE needs to be sold out.

Just a couple days out from my monthly R.I. too. Perfect.

NAV Update

The Company announces that as at 30 September 2021 the unaudited net asset value (ā€œNAVā€) per ordinary share was 251.96 pence.

Overall fairly decent and plenty room for Starling growth yet!

If my sums are good, CHRY is currently trading at a 6% discount.

I might buy myself an early Xmas :gift: :ok_hand: