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What's up with Bourse Securities

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SS007
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What's up with Bourse Securities

Postby SS007 » June 22nd, 2012, 2:57 pm

Anybody invest in bourse securities ?
I see the fund did badly and now they want to move it from a closed ended fund to an opened fund.
What do you guys out there think?
Cut your losses or wait and lose more ?

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Re: What's up with Bourse Securities

Postby Bizzare » June 22nd, 2012, 3:04 pm

failed...... like a bourse

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Re: What's up with Bourse Securities

Postby ray d saint » June 22nd, 2012, 3:13 pm

you doh 'invest in Bourse Securities' they invest your money for you.... they are a brokerage house... What fund are you referring to?

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Re: What's up with Bourse Securities

Postby Sumana.00 » June 22nd, 2012, 3:24 pm

Depending on how they're allowing you to redeem it really, if it's open ended you're redeeming at any time but you're not guaranteed that you get back the rate which you expected at the end of the Closed-ended fund. Have they stipulated that existing fund holders can redeem at the expected rate/the same time?

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Re: What's up with Bourse Securities

Postby src1983 » June 22nd, 2012, 3:51 pm

Making the fund open ended means that you can redeem and subscribe at any time. This will be based on the closing NAV at that day.

Therefore the fund will be accessible to more investors, also the current subscribers can redeem at any time they wish.

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What's up with Bourse Securities

Postby Sumana.00 » June 22nd, 2012, 7:38 pm

But the concern is that when they switch it decreases the returns that they would have gotten when it was closed ended due to the market forces at play - at the end of the day investors would lose out.

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What's up with Bourse Securities

Postby src1983 » June 22nd, 2012, 9:05 pm

Sumana.00 wrote:But the concern is that when they switch it decreases the returns that they would have gotten when it was closed ended due to the market forces at play - at the end of the day investors would lose out.

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The switch will not affect the price, it just moving the fund from close ended to open ended

Meaning if closing date is tomorrow and the price is 10 dollars u get 10 dollars for a unit when the fund is closed

If the fund is changed to open and the price is 10 dollars, the investor can redeem his units. Which would be valued at 10 per unit

However if the fund is open he can also buy units the next day if he wishes.

The NAV calculation is the same both for close ended and open ended...

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Sumana.00
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Re: What's up with Bourse Securities

Postby Sumana.00 » June 22nd, 2012, 10:20 pm

src1983 wrote:
Sumana.00 wrote:But the concern is that when they switch it decreases the returns that they would have gotten when it was closed ended due to the market forces at play - at the end of the day investors would lose out.

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The switch will not affect the price, it just moving the fund from close ended to open ended

Meaning if closing date is tomorrow and the price is 10 dollars u get 10 dollars for a unit when the fund is closed

If the fund is changed to open and the price is 10 dollars, the investor can redeem his units. Which would be valued at 10 per unit

However if the fund is open he can also buy units the next day if he wishes.

The NAV calculation is the same both for close ended and open ended...


maybe I'm phrasing it wrong, but I know that they stand to make a loss somewhere, the research isn't on me atm will post it Monday

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Re: What's up with Bourse Securities

Postby SS007 » June 26th, 2012, 8:22 am

ray786 wrote:you doh 'invest in Bourse Securities' they invest your money for you.... they are a brokerage house... What fund are you referring to?


Agreed...
I'm in the Savinvest India Asia Mutual fund.
and I am thinking of cutting my losses with these jokers and cashing in. I think the market will take too long to recover yet alone make some kind of returns.............

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Re: What's up with Bourse Securities

Postby Bareback » June 26th, 2012, 9:12 am

You all have not looked at the strategic reason for the switch from closed ended to open ended. The current focus of the fund has sufferred from a pull back in the entire Asian and BRIC regions due to the contagion effects of the slowdown in the global markets, the tail end effects of the financial crisis, the European Debt crisis, an overall decrease in demand from the US, the pull back in oil and gas prices, etc...............

By opening the fund it creates an opportunity for the fund manager to buy more of the underlying investments at a lower price and thereby reduce the overall average cost of the fund. The NAV will only be impacted by the average price of the underlying investments so by reducing the average cost you lower the potetial losses upon redemption while placing the fund in a position where positive returns can be realized sooner and thus the fund manager can exit that position if he or she sees this as better move.

One way or the other the concentration of the fund lends itself to extreme volatility and thus you will see times when the fund posts losses.

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Re: What's up with Bourse Securities

Postby Country_Bookie » June 26th, 2012, 10:55 am

To add to what Bareback said, when u invest in equity, u need to have a long term view. Emerging market equities are very volatile and u can’t just panic everytime there’s a bear market. Just look at the chart. Were u invested in 2008 when emerging markets plummeted by 53%, then rose 78% in 2009?

Nobody can say with certainty if we’re at the bottom of the curve or if we have plenty more losses to go. Your best bet is to determine what’s a fair value of the index (based on different analyses from various investment houses) and sell when it reaches fair value.

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Re: What's up with Bourse Securities

Postby ray d saint » July 16th, 2012, 8:12 am

a lot of persons think u can make quick cash in the equity market..... while u may be able to 'sometimes' on the more liquid stocks... equity market investments is a more long term investment....

making the SIAF a open ended fund can open up the liquidity in the market and increase the trading volumes... which can assist the movement of the price. As at Friday the NAV was $8.67 USD with a YTD return of 5.10%

At the close of trading on Friday the price for the SIAF was $ 61.49 TTD.

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Re: What's up with Bourse Securities

Postby kevinknr » July 16th, 2012, 9:09 am

My experience with Bourse was mixed.

My family owned a few shares and we contacted Bourse to assist us in getting some unpaid dividends.

The woman in the south branch (no longer works there) was most unhelpful. She was charging me $100 to contact the company in which we owned shares and she had the most condescending attitude ever -_-

I contacted the POS branch and got through much easier though. AND they didn't charge me the $100 either.

That sums it up, a mixed experience as I said. I think they're good brokers, only that one idiot woman in south who wasn't very good at her job. As I said, she no longer works there and I didn't have any other problems with them.

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