Share Name Share Symbol Market Type Share ISIN Share Description
New India Investment Trust LSE:NII London Ordinary Share GB0006048770 ORD 25P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 373.00p 0.00p 0.00p - - - 0.00 05:00:10
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 0.4 -0.6 -1.1 - 220.33

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Date Time Title Posts
16/1/201709:47New India Inv Trust22.00
22/5/201518:27New India Inv Trust94.00

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DateSubject
14/3/2015
19:47
hpcg: jkc147 - the discount, or premium is simply a feature of Investment Trusts. These are close ended and listed. The close ended part means that the number of units (shares) is fixed and the size of the assets managed does not vary as investors transfer ownership by trading shares. Just like other companies additional shares can be created with a secondary offering, and shares can be cancelled by company buy backs. Some ITs do buy backs as a means of managing the discount to NAV. A listed entity can have any share price irrespective of underlying asset value. Open ended vehicles such as funds the NAV of the units is the same as the value of units. Every time someone buys into a fund a new unit is created and new assets purchased. When units are sold assets also have to be sold to pay out the cash. Hargreaves Landsdown has charts which show the discount and premium variation over time. Buying at an unusually low discount and selling at a premium are ways one can get additional returns beyond the underlying performance of the trust. In my opinion the discount here is related to dollar strength and fear of "emerging markets". However India is the diametric opposite of Brazil and Russia as a resource importer rather than an exporter, and has catching up to do on China which is blowing out its infrastructure bubble. In my opinion India could be in a multi-year bull run and Aberdeen are successful managers in Asia. I expect India to become fashionable again and for the discount to close, and likely trade at a premium.
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