In addition to ASX CEF consulting services, CaptiveCapital does specialist work targeted at: (a) identifying CEF trading opportunities; and (b) the broad mission of eliminating all ASX CEFs.
Selected current projects with publicly available websites are available below. Other projects can be discussed if relevant to paid services.
For specific services use the Contact page.
Current Public Projects:
1. CD Private Equity Fund Insights
- A public blog with detailed insights and shareholder activism.
2. Hearts and Minds Investments Fund (HM1) Insights
- Expert discount analysis skills applied to provide details and solutions regarding HM1.
3. Total Expense Ratio Analysis
- The true Total Expense Ratio (before and after any performance fees) is the most critical factor determining the likelihood of a fund outperforming an alternate, systematic/passive ETF. I compile TERs for all ASX CEFs and utilise them in discount assessment and trading opportunities. The holding costs can be overwhelming for high TER CEFs.
- Excerpts are published on the Blog. E.g. See RF1
4. Blocking Stake Analysis
- I use this term on the site to mean large holders (typically fee beneficiaries or founders) have built a blocking stake to prevent a 75% shareholder vote to wind-up the CEF or provide an exit near NTA.
- I compile Blocking Stake data for all ASX CEFs and utilise it in determining CEF wind-up probabilities and worthwhile discount entry levels.
- Excerpts are published on the Blog. E.g. > When does CEF "skin in the game" become a blocking stake?
5. NTA and TSR Performance Analysis
- I track short-term and long-term true performance (NTA and Total Shareholder Return) for all 84 ASX CEFs worth following and compare to the most relevant passive/systematic ETF. CEF fund managers almost always overstate performance and cannot be relied upon.
- Excerpts are published on the Blog in many posts. E.g. > Myth vs reality in the long-run performance of ASX LICs and LITs