Investment Share Discussion Threads

[topvest] 18/7/2023 20:37

They must be very disappointed despite the brave words...

hxxps://citywire.com/investment-trust-insider/news/investment-co-owners-leave-chelverton-just-6-3m-to-manage/a2421923

[topvest] 18/7/2023 15:26

No. Both sub-scale.

[coolen] 18/7/2023 12:35

If a merger, has Chelverton Growth Trust lived up to its name over the past 5 years or so ?

[topvest] 18/7/2023 07:46

Well this has worked out very badly for continuing holders as it will shrink from a £15m trust to about £6m. I tendered all of mine, as did 83% of holders. Looking at the worked examples this seems a much worse result than any of their 3 worked examples. Not sure why people subscribed as it will likely go back to a big discount post transaction. Maybe it will acquire Chelverton Growth Trust next?

[topvest] 07/6/2023 19:23

I hadn't quite realised how big and successful the Chelverton UK equity growth fund had been. 1/182 funds since inception, although a poor short-term record because of their growth agenda.
www.chelvertonam.com/fund/pfs-chelverton-uk-equity-growth
Anyway, share price ticking-up and the discount is closing.

[topvest] 20/2/2023 08:02

It looks like a winding-up later this year then if a growth option doesn't come off. I've lost count of how many changes they have made to the management arrangements here in the last few years. Although it would be nice to keep this vehicle going, given it goes back to 1868, they can't keep going as they have been. I was looking at selling my small holding, so I will probably await developments now. Odd that this opens flat on that RNS...there is just no interest!

[topvest] 16/5/2019 21:16

Yes, not been great of late.

[pherrom] 16/5/2019 09:02

"The objective of the Company is to provide income and capital growth over the long term."

Precisely the opposite has been achieved.

[davebowler] 07/2/2018 11:54

1 February 2018

The Investment Company plc

Change of Investment Manager

The Board of the Investment Company plc ("TIC" or the "Company") announces that
it is changing its investment manager from Miton Asset Management Limited
("Miton") to Fiske plc ("Fiske"). The Board has agreed a period of notice
with Miton and Fiske will assume responsibility for the portfolio from 1 April
2018. The Board thanks Miton for their work over the last five years.

Reasons for the change of Manager

The Board believes there is a strong commercial rationale for the change in
manager, which will result in a reduction of the fund management fee from 1% to
0.75% per annum of Net Asset Value, payable monthly in arrears and cancellable
on six months' notice by either party. There is no minimum contract term. For
the first twelve months, the management fee shall be capped, in total, at GBP
90,000 net of VAT.

Fiske's proposal was chosen after a comprehensive selection exercise as they
were able to demonstrate:

* Familiarity with the Company and the core investment philosophy

* A competitive management fee structure

* A clear strategy to reduce operating expenses and the ongoing charges ratio
of the Company

* A strategy to increase the size of the Company over the medium term

As there has been, and continues to be, some overlap in executives between
Fiske and the Company the change of investment manager is considered a related
party transaction of the Company. This transaction is therefore disclosable as
a smaller related party transaction pursuant to LR 11.1.10 R.

The Board has also carried out a review of operations and is making changes to
the Company's administrative arrangements for the provision of Secretarial,
Administration, Registrar and Custodian services with the aim of lowering the
cost of overheads. Pursuant to this, an application has been made to the
Financial Conduct Authority for the Company to be its own self-managed AIF.

[topvest] 02/2/2018 19:00

Yes,they did allude to it previously so maybe not as gifted a prediction as it could be. Whilst I like Miton they have done a poor job here and deserve to be sacked. They bought some real dodgy investments including a few barge pole preference shares. Fiske are a relatively old fashioned stockbroker long associated with this company. Overall, I would probably agree with the move as performance has been well below par.

[getscenic] 02/2/2018 18:46

Hey TV rub your crystal ball again and tell us the date of the next crash. Good call, do you know anything about Fiske?

[topvest] 15/1/2018 21:16

Yes, poor investment performance unfortunately. Get the feeling that change is afoot and the Manager may get changed.

[yieldsearch] 15/1/2018 18:19

In 2017 the NAV has gone up, and the share price down, resulting now in a discount at 11%.. any reasons ??

[topvest] 08/8/2013 17:13

Looks like they now have some equity in this company:

[topvest] 05/8/2013 11:15

These have fallen back a bit. I've added a few more as on a very good discount and prospective yield.

[topvest] 22/6/2013 17:30

Not a bad result here on the initial placing given the carnage in the markets over the last couple of weeks. Good times ahead for this investment trust I believe.

[solarno lopez] 30/5/2013 09:43

Many thanks

[mangal] 30/5/2013 09:30

SL, I'm no expert in these matters but I follow a few threads here on advfn to pick up ideas(regardless of whether mainstream or "out of the way") on what to buy. eg, some of the ones that I follow:

[solarno lopez] 30/5/2013 07:50

Mangal as you seem to be in the know on these out of the way stocks have you any others that you would care to share please.

[solarno lopez] 28/5/2013 14:09

Well done Mangal and as you say way off peoples radar

[mangal] 28/5/2013 14:00

This one has been a great investment; off many people's radar- a hidden gem for sure; has doubled since I bought some 4.5 years back & not counting the divs.