Downing Strategic Micro-... Investors - DSM

Downing Strategic Micro-... Investors - 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
-2.00 -2.67% 73.00 15:54:35
Open Price Low Price High Price Close Price Previous Close
75.00 73.00 75.00 73.00 75.00
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Top Investor Posts

melloteam: Just to let shareholders and prospective investors know that International Biotechnology Trust, Primary Bid, Downing Strategic Micro-Cap Investment Trust and Amati will be presenting at Mello Events Trusts and Funds Webinar. The event is free! Click here to register: Https:// There will be over 200 investors attending and these are very popular shows with company presentations, fund manager and investor interviews, and panel sessions. The full programme is as follows: 5.00 pm Mello welcome and introduction to company presentation by International Biotechnology Trust 5.30 pm Investment Trust presentation Paul de Gruchy 6.00 pm Company presentation by Primary Bid 6.30 pm MoneyMakers Jonathan Davis and Simon Elliott 7.00 pm Company presentation by Downing Strategic Micro-Cap Investment Trust 7.30 pm Deborah Fuhr presents on ETFs 7.45 pm Company presentation by VectorVest 8.00 pm Company presentation by Amati 8.30 pm Investment Trusts panel featuring Mark Bentley, Ed Shing, Simon Elliott, Jonathan Davis, Karin Schulte
red ninja: I agree the portfolio looks like it has good potential so 15% seems possible. Of the new toeholds : -Tactus appears to have done best. -Venture Life Group has done worst, but hopefully this is only a short term investor over reaction, future results will give a better indication. Thus, I am hoping that the next 4 years 4 months will provide good results. We'll see, as a holder I am biased. DYOR.
red ninja: Downing Strategic Micro-Cap Investment Trust plc is pleased to announce the publication of its new investor letter :- Http://
red ninja: The trust may have been touch and go at one point as it is small and with RDG and Redhall not doing well it could have been heading for the exit. Now I think it looks like it has a future. As an investor you can exit when you like and I have trimmed about 1/3 of my peak holding. Well assuming the current portfolio succeeds to become an increasingly larger trust then I imagine Downing might like to make it larger still by options like :- 1) Raising new equity from existing/new investors 2) Taking over/Merging with other small trusts
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.
cousin jack: I’ve attended talks Ms Mackenzie has given at investor conferences and she certainly presents very credibly about analysing companies and holding their executives to account. On that basis I was previously an investor. A number of the Trusts holdings are in companies which had problems but were seen as having recovery potential. However the lack of progress over a longish period of time led me to the conclusion that this was a jam tomorrow investment with a high opportunity cost and so I sold around a year ago. I am watching with interest but still not seeing the progress which Judith’s presentations suggested should be achieved. I would think that by now her hat would be on a shoogly peg.
strollingmolby: Downing staying just under the 5% threshold at Tekmar (TGP): HTTPS://
red ninja: Mmm saw the 15k trade at 55.75p, but the extra 0.75p could be due to buying at 16:10. In the first 30 minutes or last 30 minutes they sometimes sting you with a higher price. The buyback seems to have given confidence to investors to buy and it looks like DSM have only purchased less than 100k of their own shares. Scheme will end on 2nd November 2020 so interesting to see how share price strength goes after that, RGD is also struggling due to the pandemic at around 20% of DSM (by secured loan note) IMO it casts a bit of a shadow over DSM.
red ninja: Septembers Investors letter making the case for DSM as normal :- "Despite our caution, there are reasons to be cheerful with this portfolio from both a downside protection and an upside perspective. Firstly, almost 21% of the portfolio is in cash and another 20% is in loan notes where their value is not influenced by volatile stock markets. That makes over 40% of the portfolio which is entirely unaffected by volatility. Volex comprises just under 16%, and is trading robustly through this period. Bar a recession, we are hopeful that the company will grow earnings this year and should continue to re‐rate. A further 20% is comprised of businesses which we think aren’t trading much higher than what we consider to be a minimum valuation given the quality of earnings and balance sheet strengths underlying. From an upside perspective, the opportunity is significant. Not only is there over 100% of upside potential to intrinsic value in the portfolio, but investors today can access that upside at a 27% discount to current NAV. That points to a 64% ‘double discount’. The discount has historically traded significantly narrower than the current gap and we expect that discount to narrow as value creation catalysts are delivered, and the wider market begins to appreciate the quality of some UK smaller companies."
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