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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Independent Investment Trust Plc | IIT | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 420.50 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 420.50 | 420.50 |
| Top Posts |
|---|
Posted at 10/11/2022 12:13 by marktime1231 Shouldn't have long to wait now to find out the settlement amount, cash up must be today or tomorrow because IIT have said they intend for everything to complete this week. Going straight in to my mortgage offset. Not dragging on, this has been pretty swift and efficient.They are not immediately liquidating all the shareholdings, 3/4 of the shares are transferring to MNKS where Baillie Gifford can then decide to keep or rotate. IIT administrators liquidated just enough to pay up those who cashed out. No conspiracy, all quite neatly done actually. Sorry to see them go, for understandable reasons. IIT were top of the investment trust pops for a while. |
Posted at 02/11/2022 23:08 by cynicalsteve On 30th September IIT was only 28% in cash. I would have expected more progress liquidating the portfolio by then, I hope they did better in October. I sold shortly after the merger/liquidation was announced (at a loss) because I dislike the way these things drag on. |
Posted at 02/11/2022 13:22 by marktime1231 No surprise the scheme was approved, about 25% voted to cash in. A special dividend of 9p payable this Friday 4 Nov for shareholders on 13 Oct. And then I think the cashing up takes place from 8 Nov. Meanwhile ex-div NAV has crawled up to 450p, with a couple of days to go. |
Posted at 26/10/2022 18:39 by marktime1231 Ex NAV was printed yesterday at 444p plus the sweetener of a 9p liquidation dividend in November if the scheme is approved on 31 Oct.Not quite the NAV recovery I was hoping for when I plumped for cash. What chance of underlying NAV improving significantly in the interim ... guessing not much. Oh well, the cash will be welcome, probably destined for the mortgage offset account. |
Posted at 13/8/2022 11:37 by topvest It's very disppointing to hear that Max Ward is retiring, but not wholly unexpected and he did warn of stopping in his 70s. I do also hold Monks, but it wouldn't be my best choice of rollover vehicle, not least because of the very poor dividend. I might take the cash option. Hopefully, Max can get us close to £5 back. |
Posted at 09/8/2022 13:52 by spectoacc BG's glory days are numbered IMO, but fair point on so-called "continuity".The 98% of NAV cash option probably mitigates things tho - seems to be enough margin in IIT even if some are hard to realise? |
Posted at 09/8/2022 13:51 by cynicalsteve You can run from Baillie Gifford but you can't hide! No matter which IT you choose to invest in they will get you eventually. It's my own fault, I invested in IIT because I thought some kind of corporate action was likely, unfortunately my timing was terrible and I didn't have the guts to double up so even now I will make a loss.Surprised that the board talks about 'Continuity of investment proposition' because I can't find a single investment that's in both portfolios. IITs portfolio of mostly small and mid sized UK companies will have to be sold, some will be difficult to sell at market prices. In addition, although the Monks portfolio is restrained by BG standards it's aggressive by almost anybody else's. I think I've just persuaded myself to sell! |
Posted at 09/8/2022 10:48 by marktime1231 That woke us up a bit.Do I want to become a Monks investor at 460p when the underlying NAV in IIT is > 500p and rising? |
Posted at 04/10/2018 13:00 by douglas fir ..addendumhistorically IIT has traded more often at a discount..par to nav is no big deal really on this one from where I'm sitting.Even more so when you consider the weighting.Some people would consider Fevr now to be ex-growth,and Prsm,whilst having an adoring fan club cannot afford a mis-step .The weighting of builders may also detract.A 5%+ discount is very possible ,and depending on the direction of travel at that time I would take a view. |
Posted at 03/10/2018 17:42 by robow from Investment Trust InsiderNot every investment trust bargain has to offer a wide double-digit discount like Patient Capital. Sometimes a trust can be cheap when it no longer trades on an expensive rating. A great example of this is Independent (IIT) investment trust run by veteran stock picker Max Ward (pictured). Independent has a magnificent track record, delivering a 454% total return to shareholders over 10 years, smashing the 138% gain in the FTSE All-Share index. Last year the shares soared over 70%, as Ward’s big bets on house builders, Blue Prism (PRSM), the automated business software provider, and tonic maker Fever-Tree Drinks (FEVR), surged, leading to Independent winning a Citywire investment trust performance award. All this caused eager investors to pile in and propel the stock to a 20% premium over NAV. That was clearly unsustainable and after concerted share selling by Ward and his co-directors, and with builders retreating in response to a house price slowdown in London and the South-East, the bubble burst. After a 16% slide over the summer the shares have lost their premium and at last night’s close of 668p stood close to ‘par’ or NAV. This could be a good entry point into the £374 million fund if you trust Ward’s nose for good growth businesses. |
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