I have just published an article on Seeking Alpha, Asian Luxury Hotels: Valuation and Benchmarking, that summarises some of the research I have recently done on Asian hotel companies, including Mandarin Oriental, Shangri-La Asia and Hongkong & Shanghai Hotels, which operates the Peninsula chain. It has provided no new investment ideas, but provides a useful read-across for Great Eagle Holdings, which is one of my largest positions.
I have just increased my position in Henderson Value Trust (ticker: HVTR) at a price of 240p per share. It is trading at a discount of around 17% to net asset value. HVTR now represents close to 5% of my portfolio.
My Discount Investing portfolio has performed well over the last six months, delivering a total return of around 8% (in pound sterling terms) since the end of August last year, compared with around 5% for the benchmark (FTSE All-World Total Return Index also in GBP).
For subscribers to my Discount Investing blog, I wanted to let you know that I have moved my blog to a new website: discount-investing.com.
You do not need to do anything: the subscription email addresses have been transferred and you should automatically receive notification of new posts.
I apologise for the limited number of posts in recent months. I hope to be posting on a more regular basis in future. Many thanks for your ongoing interest.