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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| 3i Group Plc | III | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 17.00 | 0.44% | 3,917.00 | 14:12:30 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 3,890.00 | 3,864.00 | 3,919.00 | 3,900.00 |
| Industry Sector |
|---|
| GENERAL FINANCIAL |
| Top Posts |
|---|
Posted at 01/10/2024 10:45 by steeplejack The article has a brief but useful analysis of Action.Somewhat surprisingly,theres no mention of Action potentially listing and that possibility clearly contributes to 3i valuation premium.Below is the summary.Times analysis,business Tuesday 1 Oct Should investors be worried? Short interest in 3i still remains low, at under 1 per cent of its stock. The shares did slip 3 per cent on Monday morning, though more detail may yet emerge around the logic behind ShadowFall’s bet against the stock. At the very least the saga should serve as a reminder to shareholders that 3i’s enormous position in Action means its shares have effectively turned into a proxy for the Dutch retailer. 3i has become so lopsided that it has little in common with the more traditional investment trusts listed on London’s market. Action is a nice problem to have, and 3i is more broadly supported by £1 billion in liquidity, relatively low gearing and some other steady compounders in the portfolio. But its unusually high allocation to a single company means a misstep at Action could knock 3i shares off course. This is an uncomfortable truth that investors must be mindful of, especially given that despite its impressive track record and size, Action cannot lay claim to any particularly wide moat to guarantee its growth in new markets. Since this column rated the stock as a buy in May last year, the shares have delivered a total return of 88 per cent. While 3i has no discernible exit strategy from Action, and its concentration continues on its steady upwards trajectory, investors may be minded to start taking some profits. Advice Hold Why Concentration risk is becoming too big to ignore |
Posted at 23/6/2024 09:13 by chc15 I have researched WCM, they are bottom up, 'Growth' investors, hold minimum 3-5 years. They are expecting a lot more to come here, could we see levels near 40 by year end? dyor of course. |
Posted at 14/5/2024 08:30 by anhar I did see the large director buy. That doesn't change my view that Action's massive growth to date must at some stage slow down, hitting the value of Action shares and consequently those of III whose great performance has clearly benefited from the growth of Action. With III at a huge premium and its dependency on Action, any difficulty with the valuation of Action may have a severely negative impact on III shares.I think it's a question of when to exit Action, wholly or partly, or if you like, how long to let winners run, a tricky decision no doubt and I hope they manage this favourably. I'm more than satisfied with III growth and especially the divi increases as I'm primarily a long term hold income investor, but am a little concerned about its dependency on one major holding which invites a lot of risk. |
Posted at 02/1/2024 16:23 by eigthwonder it was a big winner in 2023 - and rightly so. although Action's trading has remained impressive and a re-gear event must be closer very little else actually changed. so we've had a re-rating on top of Action's performance. larger companies where the story hasn't changed a huge amount rarely top the FTSE 100 performance tables for two consecutive years, so it's a good excuse for top slicing for institutional investors. |
Posted at 05/12/2023 08:03 by jonwig Citywire:3i Group (III) is set to receive a boost from its stake in Dutch discount retail chain Action, increasing JOHCM manager Alex Savvides’ conviction in the asset manager. The investment company is the top holding in Savvides’ JOHCM UK Dynamic fund, making up 6.8% of the £1.2bn portfolio. In his most recent fund update, Savvides said 3i Group had ‘a minor pullback’ during October but still remained ‘strongly positive for the year’. He focused on 3i’s largest investment, Action, which makes up more than 60% of 3i’s assets and helped push the private equity giant past £20bn for the first time. ‘Moody’s [Investors Service] announced underlying asset Action’s intention to issue a $1bn term loan, which will fund capital returns to shareholders, implying an increase in dividends to be received by majority owner 3i,’ said Savvides. ‘We maintain conviction in the position.’ Shares in 3i were trading at £22.46 on Monday. |
Posted at 12/5/2023 06:34 by jonwig Thanks. The article doesn't add anything new but gives a pretty strong buy recommendation.If you register you can, I believe, read two free articles a week free. Here's the Questor link: There's another article about 3i. here's the gist; ... in terms of value creation for UK investors, Action has been unparallelled. 3i has made almost 100 times its initial investment since alighting on the no-frills discounter in 2011. Another record-smashing year has boosted the value of 3i’s 53 per cent stake in Action to £11.2 billion, up from £7.2 billion a year ago. That compares with £8.8 billion for the entire market value of Next. The 2,300-shop Action chain seems to be one of those rare things, a franchise that can expand from country to country with absolutely no loss of customer appeal. If there are diseconomies of scale or cultural impediments, it hasn’t encountered them yet. Borrows deserves kudos for running this bet for 12 years and not being tempted to cash out early. He would have been a mug to do so, he says, and 3i shareholders will doubtless agree, even with so many of their eggs in the one basket. But the idea that 3i can continue to bill itself as a general investment company now stretches credulity. Action, which Borrows chairs alongside his 3i job, now accounts for 61 per cent of the total 3i portfolio, up from 59 per cent in January. That is an egregious level of concentration of risk. One option would be to accept reality and rebrand and recategorise 3i as a retailer in the FTSE listings. The company is attracting as much attention from retail analysts as their investment trust counterparts. Business Briefing Morning and midday updates on financial and economic news from our award-winning business team. But that would be to diminish 3i’s wide investor appeal as a blue-chip listed vehicle that gives easy access to private equity and to infrastructure investment. Perhaps better would be a demerger of Action into a separate listed company. 3i shareholders could be given free Action shares and could decide for themselves whether to run the bet further or take some profit off the table. If Borrows is right about how conservatively Action is valued in the 3i books, they could expect a boost in value. The two businesses in aggregate would be worth more than the single entity. Borrows doesn’t agree. Action has boomed, he argues, partly because there is none of the distraction of the public markets. But if it continues to thrive, the conundrum for 3i will only intensify. I don't agree much there. |
Posted at 08/11/2021 07:24 by cfro The Company notes recent media speculation and confirms that it is currently in discussions with J.C. Flowers & Co regarding a potential acquisition of Interactive Investor.There can be no certainty that these discussions will result in a transaction and a further announcement by the Company will be made as and when appropriate. |
Posted at 07/11/2021 14:15 by cfro Rather hope this doesnt happen and that the IPO goes ahead as usual instead. |
Posted at 09/7/2021 13:33 by jonwig brwo - you're on the 3i company thread, not Interactive Investor!However, since you mention it, I agree. You can bypass it by using the rescue code, but I think all brokers will need to employ two-factor authentication. |
Posted at 15/11/2019 19:34 by rambutan2 I watched the webcast today and yes, it seems higher valuations had been mooted, but both the CEO and the FD face up and explain why they think the valuation is fair, and why they upped 3i's stake a bit. Well worth a watch.A few extra snippets not on the presentation, which I got from a call, are that the rollover and new investors are in a variety of co investments vehicles (of 5yrs life with up to 3 one year extensions) and so there will be no more fees coming from them. And as reported today, Partners has sold its (13%) stake to Hellman & Friedman at the same valuation. In total these co investors hold 30% of Action. 3i will hold just under 50% on its balance sheet and thus and importantly it will stay firmly in the driving seat with regard to strategy etc. The balance of shares are held mainly by Action management. |
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