GGPChat

Just seen the latest Bloomberg

https://ibb.co/4pDJ2R4

Legal and General just bought 121m shares of GGP and now own 2.4%.

That’s Major a generalist global pension fund and investment house arriving on top of the specialist funds like Dynamic precious metals and their recent 65m purchase , not to mention Jupiter gold and silver.

And guess who done all the selling -?- yup the PIs on HL and the other retail brokers did majority of the selling 65m worth (well done!)

Listen to the shorts at your peril.
They get their way, while intos load up.
That’s the game.

This is when patience wins out. Me, I’m still adding and will until I get to my 13.33 average.

Makes me wonder if H&L’s timing informing investors to diversify was targeted. I didn’t sell, but am sure it would have made some nervous. Of course, it could just be their best practice.

L&G bought for their index funds after GGP was included in Solactive’s (a German index provider) ESG series last year. This is probably a tangible outcome of SD’s work on ESG credentials, which is a positive in itself. It’s misleading to characterise it as an investment decision made by an active/discretionary manager though.

Hi all

This is Morning star of this am. When will they update to show LEGAL and GENERAL.

https://tools.morningstar.co.uk/uk/stoc ... fault.aspx

Great News

Copy didn’t work hopefully get updated soon


Major Shareholders
Name Type Amount Holding %
Hargreaves Lansdown Noms Ltd - 1,226,072,935 24.25
Interactive Investor Services Nominees - 645,960,684 12.77
Wyloo Consolidated Investments Pty Ltd - 430,024,390 8.50
Vidacos Nominees Ltd - 372,569,934 7.37
HSDL Noms Ltd - 355,584,267 7.03
Barclayshare Nominees Ltd - 238,178,990 4.71
JIM Nominees Ltd - 218,063,390 4.31
State Street Nominees Ltd - 217,281,225 4.30
Lawshare Nominees Ltd - 210,301,869 4.16
Aurora Nominees Ltd - 178,359,737 3.53

L&G Shows 17m on the Morningstar US website - think they have different reporting rules :

https://www.morningstar.com/stocks/xlon/ggp/ownership


Institutions Buying

Funds position


Overall

Cheers Hydro nice to see.

Just waiting for the shorters final exits. Hope soon.

Not wishing to be confrontational, but I noticed that the poster Francis appeared to diminish this excellent information provided by me as 'disingenuous’ or 'misleading' information, from me which ( I believe is unfair. )

And then, further last night, I noted that Francis' comments appeared - line for line- lifted by the shorter account Steliar2000 on ADVFN - how interesting?




Here is my counter to that comment Francis: Please feel free to furnish us with the data you have. My post was that L&G now own 2.4% of GGP - that is a fact. Its also 5x what Sprott owned when we were bought and later sold down by the Sprott Junior Miners based on another Solactive index.

"More categoric lies and disinformation by Steliar2000.

So Francis precisely when was GGP added to the Solactive LG ESG index then? Further, Somebody had to make the decision to add GGP to the ESG index - correct? - Companies don't just add themselves to indices.

The facts are:

L&G had a small position as of 31/07/2023 - Legal And General showed 7,259,525 GGP Shares according to Bloomberg terminal. Shown here: hTTps://ibb.co/F0Y5Kzq

And at 19/12/2023 they had 121,878,581 shares

(which required adding 114.5 million GGP between July and December)

https://ibb.co/2WVHsDv

Someone somewhere had to decide to add GGP to the Solactive L&G index. That is an investment decision, made by investment manager.

It didn't just happen by accident.

FACT STANDS L&G now own 2.4% of the company.

Please feel free to respond.

The inclusion was part of the ordinary rebalance announced 18th October, effective 2nd November: https://www.solactive.com/ordinary-reba ... r-2023-14/

It’s a rules based index series, so inclusion was automatic (ie not discretionary) once the relevant ESG criteria were met. See: https://solactive.com/downloads/Solacti ... deline.pdf

“The L&G ESG scores are created by L&G using a number of metrics including:
1. Environmental
2. Social
3. Corporate Governance
4. Transparency
The metric is reviewed semi-annually by L&G in order to incorporate the most reliable and relevant inputs
when calculating the aggregate L&G ESG Score. Additionally, there is an annual review of the scoring
methodology.

The selection of the INDEX COMPONENTS is fully rule-based and the INDEX ADMINISTRATOR cannot make any
discretionary decision.”

As you say “Steliar2000” has copied and pasted my post here. Just another bluffer trying to look clever I guess.

Thanks for clarifying Francis

I contacted Solactive to find out more about our weighting in this New Solactive L&G ESG Fund



Wow!

GGP is in 59th place out of 306 constituents (almost in the top 10%) of best UK companies for ESG - at 0.32% of the fund - up there with the biggest and best UK brands and household names.

Well done Shaun. Nice bit of work - its stuff like this that will be getting noticed by pension funds and mining investors globally.



Some notes from the selection criteria:

Solactive is committed to the highest standards of integrity and professionalism, which are reflected by a transparent and replicable Index design and calculation methodology. Accordingly, Solactive adheres to the following norms in developing methodologies, which are, inter alia:
• robust and reliable;
• rigorous and continuous;
• traceable and verifiable;
• resilient; and
• inclusive of information on the treatment of Corporate Actions.
In line with the above objectives, Solactive develops, calculates and maintains its equity Indices based on an exhaustive and coherent comprehensive Equity Index Methodology.

Pressure must be on Actusray with 27m sold short ...

And I tell you what, I'll bet this 114m L&G purchase has pushed and pressured the ActusRay 27m 0.53% short position over the reporting 0.5% threshold. IMO I will bet their short was in force for ages - certainly months - becuase unless 27m show up on ORETX loan today - there has been no major increase in stock on loan recently whosoever - if anything a significant reduction. And ActusRay have been driven out to declare unexpectedly by this massive 114m L&G buy, I love it when shite short is underwater - given the performance of their other shorts they are pretty rubbish at it ...

I couldn't get the XLF file to upload so here is a screen shot of the next 82 to 194 constituents.

It’s worked to an extent, because our price has dropped. How and when they close could be a different matter. I’m just trying to sort funds and pick up any that I can at this price.

Definitely good work by SD & team on the ESG front, as I pointed out in my first post. It's likely that GGP will pass other investment company ESG screens so could pop up in ESG portfolios elsewhere.

LGIM should be a stable long term holder. However they are one of the largest and most active stock lenders in the UK so not sure their 100m+ shares will be as safely tucked away as might be hoped.

ESG is a load of Horlicks, a scam. even Blackrock, Blackstone and JPM have stated so, oil companies are on the top list and Tesla not even mentioned. Shareholders are complaining to board members that profit margins are reducing due to ESG companies. DM

Hydrogen wrote: ↑Tue Jan 16, 2024 4:04 pm Thanks for clarifying Francis

So which is it? Did someone pick the stock or did a set of conditions pick it?

droverman wrote: ↑Wed Jan 17, 2024 4:46 pm ESG is a load of Horlicks, a scam. even Blackrock, Blackstone and JPM have stated so, oil companies are on the top list and Tesla not even mentioned. Shareholders are complaining to board members that profit margins are reducing due to ESG companies. DM

Hi Droverman -

I think its a UK based fund restricted to UK listed companies - hence no Tesla. And TBF Shell and BP have significant renewable businesses embedded within or in development, albeit they also produce fossil fuel still a very essential part of our economy for a number of years.

Someone has to design and set the parameters to inform the section process... They were scored and selected: By a fund manger based on a methodology.

the methodology is here https://www.solactive.com/wp-content/up ... 8Aug23.pdf

Tradingview is showing a daily volume of 57m, HL & ADVFN are showing about 10m or so. The chart looks pretty busy this afternoon.


Anyone else got the same numbers ?

FuttBucker wrote: ↑Thu Jan 18, 2024 11:27 am

Hydrogen wrote: ↑Tue Jan 16, 2024 4:04 pm Thanks for clarifying Francis

So which is it? Did someone pick the stock or did a set of conditions pick it?

It wasn't picked. A set of ESG-related conditions were met.

Those conditions will have been set by LGIM's ESG team, NOT by a fund manager. The whole point of an index like this is that it DOESN'T involve investment decisions, operating instead through the rigid application of a set of rules. Index portfolios are intended to protect their users from the vagaries of fund managers by removing the need for discretionary opinions and judgements.

Any company within the index universe that meets the index conditions will be included. To be clear, there will have been no consideration of:
- valuation; whether or not the security is likely to generate an absolute return for holders
- relative attractiveness; whether or not the security included is likely to generate a better return than its industry peers / competitors