| Title: | Market Investing |
| Moderator: | 2155::michaud |
| Created: | Thu Jan 23 1992 |
| Last Modified: | Thu Jun 05 1997 |
| Last Successful Update: | Fri Jun 06 1997 |
| Number of topics: | 1060 |
| Total number of notes: | 10477 |
First Australia Prime Income Fund (symb FAX) is a closed end fund traded on the American Stock Exchange. It's trading near its 52-week low at an 11 percent discount to net asset value. Yield is a generous 11 percent. Does anyone have opinions on why this and similar issue are trading so cheaply? Are non-Latin overseas stocks and funds being unfairly painted with the peso-crisis tar brush? -Jerry
| T.R | Title | User | Personal Name | Date | Lines |
|---|---|---|---|---|---|
| 853.1 | EVMS::HALLYB | Fish have no concept of fire | Thu Apr 27 1995 12:30 | 10 | |
The AU$ futures prices are imputing a 2% annual currency depreciation
vs. the US$. So your 11% nominal is more likely to look like 9%, which
is still not a bad return. That's where I'd start my analysis, not 11%.
It could be that the AU$ is being tarred with a "dollar-crisis" brush.
I recall a very unfavorable _Barron's_ article on FAX a few years back.
Anybody else remember?
John
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| 853.2 | Richard Band says buy | MIMS::KINSER_J | Sun Apr 30 1995 16:24 | 4 | |
Richard Band just issued a by signal for FAX at 8 1/2 or below.
He has been right fairly consistently for me.
Jeff Kinser
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