Downing Strategic Micro-... Dividends - DSM

Downing Strategic Micro-... Dividends - DSM

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Stock Name Stock Symbol Market Stock Type
Downing Strategic Micro-cap Investment Trust Plc DSM London Ordinary Share
  Price Change Price Change % Stock Price Last Trade
-1.00 -1.42% 69.50 14:13:27
Open Price Low Price High Price Close Price Previous Close
70.50 69.00 70.50 70.50
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Industry Sector

Downing Strategic Micro-... DSM Dividends History

Announcement Date Type Currency Dividend Amount Period Start Period End Ex Date Record Date Payment Date Total Dividend Amount

Top Dividend Posts

red ninja: DSM re-rating a bit today, maybe due to no small extent to Volex powering upwards over the last few days. Volex has been backed by SCSW, Shares Mag amongst others. I additionally hold Volex separately from DSM. DYOR.
spectoacc: True. Fwiw just seen HRI's 5yr performance in IC: +196%. Nearly double that over 10 years, so been consistent too. 12% discount. Think they said the smallcap index (or at least the one the IC quoted) was +86% over 5 years. Obviously DSM suffered from several stock-specific God-awful picks, but still - that 15% pa been achieved elsewhere, in the same sphere, and some. Even the index not been far off. In DSM's defence, HRI been more growth, DSM are more value, and value has to be due a run.
spectoacc: And you're getting to buy them at a discount. But - where do you see the exit? Greater Fool, or might they wind up eventually? Can't recall continuation vote likelihood. DSM is very sub-scale.
spectoacc: Only 130k shares! That's ridiculous. Nick Hawthorn 64k shares, strewth. Lead Fund Manager and Fund Manager. Be interested to know where they prefer to put their money. And what DSM has paid them over the past 5 years. (Agree discount, but where's the endgame for DSM).
spectoacc: RGD was a fiasco wasn't it - one they then had to bail out with the loan notes. To my mind, they just picked too many duffers. Claiming to have been lied to by management is what their DD should pick up on. Not sure Brexit (nor Covid) played too much part, when other microcap funds have done mostly very well. RMMC has to keep returning cash to shareholders to keep it small enough! Compare their 5 years to DSM's: Https:// Https:// If DSM have learnt their lessons - and granted, they may have done - they've done so with shareholder money.
spectoacc: Long out of DSM but glad to see some progress here for long-suffering shareholders. But worth remembering it floated in 2016 targeting 15% pa returns, has a NAV still 9p below issue price (and never been above it, tho did initially trade at a premium), and an share price in the early 70's despite buybacks. £36m market cap going to keep it under the radar, where it probably belongs. Too many losers to go with the handful of winners. If I were still a shareholder, I'd be asking for cash returns from realisations, at NAV, and to hell with the market cap. Is never going to be able to grow sufficiently, even Volex couldn't see to that.
red ninja: In the latest NAV portfolio update they already seem to be partially cashing in on Tactus investment :- Portfolio Update: Tactus Holdings Limited The Manager is pleased to report that Tactus Holdings Limited, an unquoted investment in DSM, has received inward investment from the well-known technology investor, Chrysalis Investments Limited ("Chrysalis"). The Chrysalis announcement is available to view here. To help provide liquidity for this important strategic investment from Chrysalis, which provides future growth finance, DSM has partially exited a small proportion of its position in Tactus Holdings Limited. This includes the full early repayment of the Tactus Loan Notes and accrued interest. The partial exit plus valuation uplift have resulted in an increase in NAV of 2.07p per share (0.85p realised and 1.22p unrealised), the impact of which is reflected in the NAVs shown in this announcement. The directors have valued the remaining shares, cost £1 million, at £1.6 million which they believe to be fair value, reflecting a discount to this latest investment round reflecting that this investment is unquoted. The remaining position is DSM is material, at 3.5% of NAV, and the Manager looks forward to supporting the continued progress of this fast growing and successful UK company." Latest NAV : 91.26p - (Share price at 22.75% to NAV) Pretty good considering the battering of Venture Life Group.
red ninja: I see DSM list a new holding "Tactus Holdings Limited" at 3.26%. hxxps:// Tactus appears to be a bit of a jack of all trades although its latest acquisition appears to be it biggest deal ie the "landmark acquisition of PC gaming specialist CCL Computers in a deal that sees the group become a £125m business." see link Https:// The group does not currently appear to have a listing as far as I can see. Presumably there may be more detail on the stake acquisition in next results (10/5/21).
playful: The DSM portfolio feels like a coiled spring. We believe it contains pent‐up value, which we think can be released on several counts... Investor Letter hTtps://
spectoacc: She always talks a good game, but totally agree - performance from listing has been a shocker, at times approaching Woodford levels. However - only question that should concern buyers/holders now is - does DSM represent value here. I think it does. JM had a decent track record at VCTs before DSM, but DSM shareholders have paid her learning fees.
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