3i Share Discussion Threads

[craftyale] 15/4/2023 15:41

Holding firm.

[krutt] 14/4/2023 14:47

I have held this for years but took my profits today and very happy to do so. Hopefully holders will continue to see the price rise but i think it was a good time to cash in.

[chc15] 14/4/2023 12:34

Indeed, I used to take profits years ago on this, but stopped and now just leave it alone, reinvest the divs.

[craftyale] 13/4/2023 08:52

Happy Days

[craftyale] 11/4/2023 14:38

Looks like 1700p will be crossed.

[wad collector] 31/3/2023 15:46

Sold most at 1685. Been a good run, but this was supposed to be a medium risk investment and has gradually become higher risk (And higher reward too) .

[chc15] 28/3/2023 11:54

Some chunky director buys from the euro bosses, share price is holding up well.

[jerseyman1] 23/3/2023 11:34

Action is stunning, looks like it will continue for a while yet. Dividend could be substantial if accompanied by another gearing up which business can easily cope with. Timing of eventual exit crucial, must leave something on table for purchaser.

[chc15] 23/3/2023 10:02

Update sounds good, I'm currently watching the presentation live..Action still doing the biz!

[riverman77] 23/2/2023 12:05

Not too worried about the lack of diversification as I view this as largely a play on Action (rather than a private equity fund}. However, I do agree that the Action valuation is looking punchy - especially given the fall in the valuations of its peers, which makes it look very expensive in relative terms. High multiple perhaps justified when it was in its early growth stage, but the growth will have to slow before too long - multiples should generally fall as the business becomes more mature, but this doesn't seem to apply to Action.

In terms of an exit, they obviously won't look to sell Action now given current market conditions. I would imagine they get another 2 or 3 years growth under their belt and list when market conditions are more buoyant as they inevitably will be at some point - that's what private equity firms do, sell to suckers at the top of the market.

[jerseyman1] 23/2/2023 11:53

I agree to some extent, some element of de risking makes sense. However the strength of underlying performance in the portfolio will see the discount to NAV widen materially when Q4 results come out. Probably time for another refinancing of Action to fund another dividend payout. Not easy to see a full exit at as punchy a valuation as it sits on though. But....other exits continue to be at prices well ahead of holding value

[skyship] 23/2/2023 11:02

That was an excellent article in the IC. Recommends to sell 3I Group (iii) due to an over-valuation of Action Group which now accounts for 59% of their portfolio valuation.

Action has been a superb/remarkable investment for iii; but with that degree of portfolio distortion they really have to find an exit route for at least half of their commitment.

With iii standing at just a 1% NAV discount; they look like a one-way play for the time-being; especially after the recent 4-month 50% surge upwards.

One aspect not mentioned on the Action business model surely has to be their reliance on cheap goods from China. Any interruption of that gravy train will sorely expose Action sales.

IMO these now look to be a good short...

[wad collector] 20/2/2023 20:05

Big UT at the close today almost half a million shares.

[craftyale] 20/2/2023 08:25

Holding firm.

[bothdavis] 18/2/2023 22:50

Must admit.....having bought into 3i from inception....sold 25%.

Rest is a bonus.....plus put funds into a higher dividend payer.

[wad collector] 18/2/2023 18:10

It's quite a detailed 2 page article highlighting the dominance of Action , the Dutch retailer in the fund, which is now about 60% of the portfolio.
Clearly too large , except for the fact that it has done rather well.
So it rather all depends on what happens next to one discount chain.
Guess it's worth considering the IC call.

Pragmatically, whatever the merits of this particular investment , it seems a reasonable exit point when the FTSE100 is near an ATH , this vehicle has performed well, and like me you are not convinced that the market optimism will hold , at least in the short term. I think we are one bit of bad news away from a tumble again.It is 23 years since these were breaching £20 .
Doesn't look like those recent director's buys support this viewpoint though.

[davebowler] 17/2/2023 09:15

Oakley Capital looks cheap OCI in my opinion.
Indeed Investor's Chronicle concludes 3i is a sell and too high -
.... especially with 3i’s share price above its latest reported NAV, at a time when many peers trade at discounts of more than 40 per cent.

[growthpotential] 15/2/2023 22:43

would love to add this to my watchlist for future private equity investments

[craftyale] 13/2/2023 16:39

This just keeps powering on

[prokartace] 31/1/2023 08:18

If you want to comment about interactive brokers then I suggest you go to the ABDRN site as they own interactive. 3i have nothing to do with them

[chc15] 27/1/2023 15:15

Over 16, afternoon US buying going on.

[toby hall] 26/1/2023 14:51

anyone used iDealing

feedback please

[craftyale] 26/1/2023 12:55

Happy days.

[jonwig] 26/1/2023 08:56

10 yr high( ATH?)...




NAV is in red.

[craftyale] 26/1/2023 08:45

NAV on Dec 31 1649p. Hmmmm wonder what it will be on Jan 31 or today? We could be trading at 1650 to 1750 soon.