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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Rights & Issues Investment Trust Plc | RIII | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 2,180.00 | 13:30:11 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 2,180.00 |
| Industry Sector |
|---|
| GENERAL FINANCIAL |
| Announcement Date | Type | Currency | Dividend Amount | Ex Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| 21/02/2024 | Final | GBP | 0.3125 | 07/03/2024 | 08/03/2024 | 05/04/2024 |
| 01/08/2023 | Interim | GBP | 0.1175 | 24/08/2023 | 25/08/2023 | 25/09/2023 |
| 15/02/2023 | Final | GBP | 0.2925 | 02/03/2023 | 03/03/2023 | 31/03/2023 |
| 01/08/2022 | Interim | GBP | 0.1075 | 25/08/2022 | 26/08/2022 | 26/09/2022 |
| 18/02/2022 | Final | GBP | 0.24 | 03/03/2022 | 04/03/2022 | 04/04/2022 |
| 03/08/2021 | Interim | GBP | 0.1075 | 26/08/2021 | 27/08/2021 | 27/09/2021 |
| 16/02/2021 | Final | GBP | 0.215 | 04/03/2021 | 05/03/2021 | 01/04/2021 |
| 03/08/2020 | Interim | GBP | 0.1075 | 27/08/2020 | 28/08/2020 | 28/09/2020 |
| 24/02/2020 | Final | GBP | 0.215 | 12/03/2020 | 13/03/2020 | 03/04/2020 |
| 02/08/2019 | Interim | GBP | 0.1075 | 29/08/2019 | 30/08/2019 | 27/09/2019 |
| Top Posts |
|---|
Posted at 07/5/2017 19:08 by nimbo1 This gem of a fund is a well-kept secretBy: David C Stevenson 05/05/2017 0 comments Value investors are an odd, difficult bunch. It’s in their nature to be a bit cussed and contrarian. They’re also usually very individualistic and secretive, which I suppose goes with the profession. If you find a true gem of a stock, trading at below its “intrinsic value”, your first instinct is to keep mum and not tell the world. Hence tracking down reputable value managers is a bit like hunting down gems in the investment rough. You’ve got to ask around among other value nerds for clues, while also digging into boring reports and accounts. Simon Knott is one example of an elusive value manager. Search for his most established fund, the Rights & Issues Investment Trust (LSE: RII), and you’ll encounter… well, very little. The truly diligent could comb through the trust’s regulatory news service releases to understand more about it – but you can save yourself a lot of bother by making use of the excellent fund summary available via Kepler Partners’ investment trust intelligence service. The Kepler report on RII is a very good summary and rings true with the accounts I’ve heard from other value fund managers. Their message is simple. If you want to invest in small UK stocks, it’s worth having a look at this trust. RII focuses on small caps and is very concentrated in a small number of key holdings (the top-ten holdings account for 83% of the portfolio’s total net asset value (NAV)). Portfolio turnover is low (2% on one measure), which indicates a high degree of long-term conviction in the portfolio. The trust has a market cap of around £188m and a current dividend yield of around 1.5%. It is the cheapest member of the AIC UK Smaller Companies sector, with an ongoing charge of 0.59% and no performance fees. Knott has run the RII since 1984, and owns 5.13% of the voting shares, while his family owns 15% in total. As with so many of his value-investing peers, Knott’s forte is picking ignored stocks where he can visit the management and get up close and personal. Top holdings in the fund include bonding and adhesive manufacturer Scapa Group, and chemicals company Treatt, which specialises in fragrances and essential oils. Over the past 20 years the trust has delivered a NAV return of 2,053%, compared with returns of 577.5% and 485.9% from the Numis Smaller Companies ex-Investment Companies index and the AIC UK Smaller Companies sector respectively. Given these numbers, you’d have thought the board would have done some marketing. They haven’t. This reluctance to shout about the fund has meant that the discount has gyrated around violently and is currently at around 12%, after some fairly heavy share buybacks and the Brexit-induced small-cap sell-off. To make matters even more complicated, the fund used to boast a two-tier structure with capital and income shares, but that’s been quietly phased out now. This trust will be a volatile ride, its shares aren’t heavily traded (in fact, it’s the second least-traded small-cap trust) and it’s run by a board and a manager with a vampire-like aversion to marketing. But if you can get past this, you’ll get an experienced stockpicker with real expertise, skin in the game, a great track record, and low charges. |
Posted at 20/8/2016 16:15 by rambutan2 Oops, missed last nav. And it in much improved and clearer format. |
Posted at 28/4/2016 11:59 by davebowler RIGHTS AND ISSUES INVESTMENT TRUST PLCNet Asset Value At the 31 March 2016 the unaudited net asset value of the shares in Rights and Issues Investment Trust Plc were: 25p Capital Shares: 6,447.95p (6,185.02p at 29 February 2016) 25p Income Shares: 1,530.83p (1,489.97p at 29 February 2016) NB: The above asset value of the capital shares does not include the supplementary capital dividend of 26.4825p payable on 3 January 2017. The following list represents the Trust's ten largest investments and where appropriate, any investment with a value greater than 5% of the Trust's gross assets: Class Value GBP Holding greater than 5% of Gross Assets Scapa Group Plc Ordinary 5p 17,120,000 Yes RPC Group Plc Ordinary 5p 13,671,000 Yes Hill & Smith Holdings Plc Ordinary 25p 12,951,097 Yes Vp Plc Ordinary 5p 11,880,000 Yes Macfarlane Group Plc Ordinary 25p 10,775,062 Yes Treatt Plc Ordinary 2p 9,933,000 Yes Colefax Group Plc Ordinary 10p 9,532,500 Yes British Polythene Industries Ordinary 25p 5,312,059 No Plc Brammer Plc Ordinary 20p 4,698,000 No Spirax-Sarco Engineering Plc Ordinary 26.9321p 4,392,782 No The above information is as at 31 March 2016. Submitted on behalf of Rights and Issues Investment Trust plc by: Maitland Administration Services Limited* - Corporate Secretary Telephone: 01245 398950 12 April 2016 *formerly Phoenix Administration Services Limited |
Posted at 28/4/2016 11:58 by davebowler The shareholder vote is scheduled for 2 June 2016.We believe that a single share class structure is likely to increase the attractiveness of RIII. In addition, the discount control mechanism proposed should ensure that the fund trades at a significantly lower discount than what it has traded at over the last five years. If the proposals of the Board are approved by shareholders we believe the fund should trade relatively to close to its NAV for substantial periods of time, given the exceptionally strong long-term performance of the fund, the low total expense ratio (0.48% for the year ending December 2015) and the discount control mechanisms that would be in place. |
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