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Voya Asia Pacific High Dividend Equity Income Fund T.IAE


Primary Symbol: IAE

Voya Asia Pacific High Dividend Equity Income Fund (the Fund) is a diversified, closed-end management investment company. The Fund’s investment objective is total return through a combination of current income, capital gains and capital appreciation. The Fund seeks to achieve its investment objective by investing primarily in a portfolio of dividend yielding equity securities of Asia Pacific companies. The Fund will seek to achieve its investment objective by investing at least 80% of its managed assets in dividend producing equity securities of, or derivatives having economic characteristics similar to the equity securities of Asia Pacific Companies that are listed and traded principally on Asia Pacific exchanges. The Fund will invest in approximately 60-120 equity securities and will select securities through a bottom-up process that is based upon quantitative screening and fundamental analysis. Voya Investments, LLC is an investment adviser of the Fund.


NYSE:IAE - Post by User

Voya Asia Pacific High Dividend Equity Income Fund
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Comment by investpro2on Jan 12, 2012 11:20am
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Post# 19396320

RBC Update IAE SP Target $3.50

RBC Update IAE SP Target $3.50

Printed off the RBC IAE update and wanted to provide more details from what was posted before:

  • Athena production should be a catalyst to re-rate of the stock towards our NAV $3.51
  • H1/12 Hurriance appraisal well can also add impetus to the GSA hub.
  • We continue to rate IAE outperform with a revised sp target of $3.50
  • In our view, good initial production updates through Q2/12 could boost the stock and build expectations in the potential for reserve gains on the 24 mmbbl field
  • Upcoming Hurrican appraisal weeking upside to the 5 mmboe currently booked as 2P reserves in GSA.  We estimate the well could add 5% to our NAV
  • The 10% rise in our NAV to $3.51 has been driven by our increased understanding of the tax benefits from the ownership of FPF-1 vessel in the GSA which we estimate provides a 460M boost to the value of the IAE stake
  • CFPS 2012E 0.99, 2013E 1.36
  • Production mboe/d 2011E 4, 2012E 9, 2013E 12
  • Free Cash Flow 2014E $400M
  • Brent base case used is $109 2012

 

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