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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Downing Strategic Micro-cap Investment Trust Plc | DSM | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 31.90 | 08:00:04 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 31.90 | 31.70 | 31.90 | 31.90 | 31.90 |
| Industry Sector |
|---|
| EQUITY INVESTMENT INSTRUMENTS |
| Top Posts |
|---|
Posted at 05/4/2024 18:04 by zombiestocks There are two Foresight VCT investors. The article only mentions one fund that sold out. I am going to ask around about whether Firesight is still invested and who makes that voting decision. Seems like a waste of time but I am extremely frustrated that they are effectively forcing me to sell. |
Posted at 05/4/2024 16:46 by zombiestocks Well the vote was on B shares, not on dividend s. The board won't offer a dividend vote because they will probably lose it. My question is, if the board is not interested in the fortunes of retail investors (dividend proves it), then who are they answering to? Shareholder registry still shows Foresight - so maybe they are the ones the directors are working for. |
Posted at 05/4/2024 14:17 by 4bluenose Very inexperienced investor here got into this hoping that I would be well looked after by the fund manager, should have bailed ages ago but alas I did not.£20k original investment, take the special DV and hope for the best or 57p now? |
Posted at 28/3/2024 11:57 by makinbuks That's it exactly. They launched this fund and proved themselves to be very poor investors, or influencers, in a couple of specific cases but they were also extremely unlucky in their timing and have endured a dreadful macro background. So with the trust sub optimal in size and no way to increase it, they threw in the towel. This is all in marked contrast to Rockwood Whose shares trade at a consistent premium (but which was equally badly managed by their previous manager). So basically Downing as a manager decided they don't want it any more. I understand that, but then they take the lazy way out to liquidate and sell. They're sole interest is as asset managers. They don't care about shareholders |
Posted at 02/2/2024 16:47 by weatherman I also wonder whether it is the right time to break it up, impatience at the bottom of the investment cycle in small cos. Experienced investors know how to patiently trade out of the lows, and wait for the highs to sell. |
Posted at 17/11/2023 11:06 by cousinit So Hilco has c10% of the debt, so mainly shareholder loans. RGD has balance sheet of negative £7m. Be interesting to see who potential buyers/investors are and whether they are looking to buy the entity or only the business once it is in administration. |
Posted at 09/11/2023 16:25 by cousinit Interesting post Sphere. We may do.I do think DSM have to some extent been architects of their own downfall though. The return of cash has been talked up in previous reports. This invites tourists/'bob each way' investors and to some degree DSM then becomes a hostage to fortune when the much vaunted delivery lags. Clearly the markets can remain irrational for long periods so making statements which are almost in defiance of this aren't particularly advisable. See also ARIX. Loads of cash on balance sheet. Strategic review initiated. Fails to return said cash. Share price wilts in face of tourists feeling, somewhat understandably, aggrieved. |
Posted at 31/8/2022 07:16 by weatherman Investor letter issued. |
Posted at 16/8/2022 10:15 by ohisay As mentioned earlier, DSM has been the top performing trust in the sector over a 12-month period and year-to-date from a NAV total returns perspective, but what is surprising is that this has not translated into share price performance. DSM’s discount has been trending lower since the start of the year, with it currently at -21.2% which is significantly below its five-year average of -9.9% but is also a wide discount in absolute terms. This in itself is unusual because the trust traded at a premium in the first two years following its IPO, albeit trending lower over this period, before widening significantly during the market volatility in 2020. It is yet to fully recover and with a three-year average discount of -16.5% this has remained a feature of the trust more recently. Up until now the board has been reluctant to actively buy back shares with the chairman – in our view, rightly – stating there was “no point in trying to stand against the tide” during the height of the coronavirus pandemic. The highly concentrated portfolio that ranges between 10-25 holdings, investing in the riskiest area of the small cap universe, namely micro-caps, meant the board wanted to ensure liquidity was maintained. However, the persistency of the discount has led DSM’s board to buy back shares regularly at wide discount levels with the latest purchased at an average discount of 17% in May 2022. In its most recent annual report, the board provided clarity around the plans for an investor redemption opportunity in May 2024, enabling shareholders to redeem or have a matched sale for up to 50% of their holding. For these reasons along with the uniqueness of the managers’ investment philosophy in the smaller companies’ space, we believe DSM may provide investors with an opportunity to diversify their current portfolio with the wide discount, and that the likely continued share buy backs will be accretive to shareholders. |
Posted at 15/5/2022 22:21 by melloteam Mello2022, the popular three-day Investor event takes place on 24TH-26TH MAY at the Clayton Hotel & Conference Centre, Chiswick, W4. The breakdown of the three days is as follows:Tuesday 24th May, 9am - 6pm - Mello Investment Trusts and Funds (WE ARE GIVING AWAY 20 FREE TICKETS TO THE TRUST AND FUNDS EVENT - THE FREE CODE IS FIRST20TF) Wednesday 25th & Thursday 26th May, 9am - 6pm - Smaller Growth and Mid-Cap Companies (Tickets for 1 day are £115 and tickets for 2 days are £189. To get 50% off, use code MMTADVFN50). Just to let shareholders and prospective investors know that DOWNING SMALL AND MIDCAP INCOME FUND will be among the Trusts and Funds attending. There will also be keynote speakers such as Lord John Lee, Andy Brough, Rosemary Banyard, Clarke Carlisle and Gervais Williams. For more information, please visit the event webpage: |
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