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Performance - January 2024

This post documents the published current and quick ideas on this site for the month of January 2024 and provides quick commentary on any developments in the published ideas.

Performance is measured by the total return of the current ideas section. However, for tracking and illustrative purposes, quick ideas and a basket of both portfolios will be published, too.

*Performance of ideas is currently measured as a basket of equal weights in their respective categories. The performance results are not actual trading results. Please conduct your own due diligence before making any investment yourself.


Acitvity over the month

In January, two new posts were added on Whiteacre:

  • Current ideas - 2 new current ideas were published (0 closed)

  • Quick ideas -  0 new quick ideas were published (0 closed)

First idea of the new year has been EuroTeleSites (VIE:ETS), a recent spin-off from Telekom Austria (VIE:TKA). The telecom in September 2023 spun-off its tower real estate portfolio with assets in Austria and a number of CEE countries. The spin-off is the by far cheapest TowerCo in the market today. The shares sold off heavily following the seperation, likely due to a lot of indiscrimenate selling pressure.


Another idea added this month is abrdn European Logistics Income plc (LSE:ASLI). ASLI is a closed-end real estate fund listed on the London Stock Exchange that exclusively invests in logistics assets in mainland Europe. The fund has delivered an abysmal performance for shareholders since its IPO in 2017. In November 2023, the fund announced that it was now exploring strategic alternatives and actively looking for a buyer. The fund’s shares trade at a significant discount to its NAV and have not reacted much to the news of the initiation of a sales process. While the true NAV based on current private market transactions is likely lower, there is still substantial room for the fund to realize value for shareholders at current levels.

Performance of the portfolio names in the month of January was as follows:


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