Share Name Share Symbol Market Type Share ISIN Share Description
Edinburgh Investment Trust Plc LSE:EDIN London Ordinary Share GB0003052338 ORD 25P
  Price Change % Change Share Price Shares Traded Last Trade
  20.00 3.39% 610.00 101,389 16:35:29
Bid Price Offer Price High Price Low Price Open Price
606.00 608.00 608.00 591.00 592.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 44.21 39.23 22.41 27.2 1,048
Last Trade Time Trade Type Trade Size Trade Price Currency
17:40:43 O 1,000 605.994 GBX

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Date Time Title Posts
16/6/202200:14Edinburgh Investment Trust368

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Edinburgh Investment Daily Update: Edinburgh Investment Trust Plc is listed in the Equity Investment Instruments sector of the London Stock Exchange with ticker EDIN. The last closing price for Edinburgh Investment was 590p.
Edinburgh Investment Trust Plc has a 4 week average price of 587p and a 12 week average price of 587p.
The 1 year high share price is 659p while the 1 year low share price is currently 548p.
There are currently 171,809,929 shares in issue and the average daily traded volume is 228,653 shares. The market capitalisation of Edinburgh Investment Trust Plc is £1,048,040,566.90.
steve3sandal: I suspect Cazoo is the stub following the take private of Daily Mail. The Board haven’t covered themselves in glory for a long time. From the outside even I could see that the previous manager had gone wrong in his stock picking. At YE the NAV is the same as 2015 and the Trust is £200m smaller after buybacks. Chair stepping down is more tenure than any admission of, well, add your own word. But I do like what JDU has done and I keep adding when I see the portfolio and share price dips. Liontrust takeover of the manager promised a higher level of promotion but not happened yet. The rebased dividend won’t help Edin reissue shares at a premium which they aspire but they might trade close to NAV with 3 years of JDU outperformance of the All Share and a quieter macro background. One of my larger holdings.
steve3sandal: Thanks for your contribution here, interesting tale and I think lots could benefit from selling poor companies and buying good ITs. My recent position here was started a year earlier when I felt Barnett was supporting some of Woodford's blue sky deals and his position and performance became untenable, and the discount opened up. I got some decent entry points and flagged a number of things to the Board though I'm sure that was incidental. I'm very impressed by James DeUpaugh and they've done a great job getting the NAV where it is. Sadly the discount which appeared under previous management is still with us but I'm hoping this will change. An improvement to UK sentiment and the takeover of Majedie by Liontrust may bring about more buyers than sellers. Also at its size Edin should be looking at a zero discount control policy.
essentialinvestor: EDIN was overdue some catch up, which is why I highlighted it recently. Now XD as well.
boystown: Master Investor - Nick Sudbury says: Edinburgh Investment Trust’s first full year’s results under new manager James De Uphaugh show clear outperformance and a narrowing of the discount. Edinburgh Investment Trust (LON:EDIN) had struggled for years under Invesco’s Mark Barnett, so it was no great surprise when the board appointed Majedie’s James De Uphaugh to take over last March. It was fortunate timing with the transition period coinciding with the onset of the pandemic. In its final results for the year to 31 March, the UK equity income fund made a NAV total return of 34.8%, which was well ahead of the 26.7% recorded by the FTSE All-Share as markets recovered from their March 2020 lows. The share price return was even stronger at 46.4% due to the narrowing of the discount. Turnover was much higher than normal at 39% as the manager re-positioned the portfolio and reacted to the rapidly changing events during the year. Significant additions included Standard Chartered and Acsential, while legacy holdings in Glaxo, Legal & General and Barrick Gold were sold or reduced to increase the pro-cyclical tilt following the development of the first vaccine last November. Plenty of upside potential De Uphaugh believes that the UK is rich in stocks that are exceptionally well-placed both operationally and in valuation terms. In order to take advantage he uses a flexible total return approach with the concentrated 50-stock portfolio consisting of a mix of growth, value and recovery names. Despite the recent strong performance, many British companies continue to trade at a discount to their international peers. It is possible that the successful vaccine rollout and the fact that Brexit is now behind us could enable the valuation gap to close, but the focus continues to be on fundamental research with the aim of identifying the stocks with the greatest upside potential. Many of the largest positions are regarded as leaders in their fields and are likely to emerge from the crisis stronger. In order to protect capital, the manager considers the potential downside risk for each holding and scales the level of investment accordingly. New starting point for the dividend Lots of UK companies reduced their dividends during the pandemic and because of this the board decided to rebase the fund’s underlying distribution to 24 pence per share, a level from which it should be able to achieve sustainable growth ahead of inflation. This gives the shares a prospective yield of 3.75%, which is marginally below the four percent average from the UK equity income sector. A special dividend of 4.65 pence has also been declared in respect of the year ended 31 March. It will be paid from the revenue reserves with the ex-div date being 24 June and will maintain the annual income in line with the previous year’s so as to protect investors. A 12-month period is too short to properly assess the performance of the new manager, but it is reassuring to see that the fund has continued to outpace the index since the end of its financial year. The broker Investec has recently issued a buy recommendation with the shares available on a 4.5% discount to NAV.
chc15: Ex div today, holding up well. Any price predictions for end year?
ec2: The effective double discount relates firstly to the shares in the portfolio which are mostly good quality value stocks that IMO can be considered cheap and at a discount to their longer term intrinsic value. The second discount is that of the EDIN share price to NAV. The NAV discount has in fact narrowed quite a bit of late, probably down to the new manager outperforming his benchmark over the last year since taking over. If he can continue to build out a good track record, I can see the discount narrowing further and even more so if the UK market in general re-rates. This combined effect would give continued double upward benefit to the share price. The shares and the market may have got a bit ahead of themselves in the last day or so, so I put a little bit of cheap and crude downside protection on yesterday, but will take off if I see continuing upward momentum which is appearing to be the case. EDIN is my largest position having averaged in over the last year whenever the share price was below 450p coupled with at the same time the NAV discount being over 10%.
bluemango: Interesting Goldpig, thank you. My equivalent list (from largest down) is PEY, MRCH, EDIN, SLPE, SHRS, TMPL, DIG. Note PEY and SLPE are private equity trusts. Apart from other reasons, it avoids the issue of duplicated underlying holdings when owning multiple ITs. Yield on cost for PEY is 7.2%. Probably all will be 'hold forevers'.
goldpiguk: Hi heialex1, With many income investment trusts at or near NAV, EDIN still looks an attractive buy. It is my largest ISA holding (15,000 shares) and I am fully invested here. The share price still suffers a little from negative sentiment following the sacking of the previous managers, and Majedie have yet to establish a proven track record at EDIN. The refinancing of the debenture in the next few months should help sentiment, giving annual savings of c.£5 million (from memory), and I would expect the discount to narrow substantially over the next year. Today I have made a small initial investment in Murray International (MYI), mainly to broaden my IT,ISA portfolio, rather than as a great buying opportunity. This is the first time I have bought an IT above NAV. IMO many IT's are currently looking a little over bought, but am happy to average in to new holdings and possibly build smaller positions in several IT's. These IT investments are intended to be held for many years and are not purchased for trading purposes. EDIN is an attractive long term hold. My portfolio of IT's is currently, (from largest to smallest by value): EDIN, DIG, MRCH, AAIF, HFEL, MYI, Goldpig
bluemango: My thanks to GoldPig for highlighting EDIN earlier this year and encouraging a closer look. Now 14% up on my average purchase price over several tranches, with a decent income stream.
contrarian joe: Latest nav,has moved up a few pence from last week. Edinburgh Investment Share News (EDIN) 3 Follow EDIN Buy Sell Share Name Share Symbol Market Type Share ISIN Share Description Edinburgh Investment Trust Plc LSE:EDIN London Ordinary Share GB0003052338 ORD 25P Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade -8.00p -1.38% 571.00p 570.00p 572.00p 580.00p 569.00p 578.00p 478,942 14:35:57 Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m) Equity Investment Instruments 62.9 57.3 28.7 19.9 - Print Alert Edinburgh Inv. Trust Net Asset Value(s) 24/06/2019 11:05am UK Regulatory (RNS & others) TIDMEDIN The Edinburgh Investment Trust Plc (EDIN) As at close of business on 21-June-2019 NAV per Ordinary share (unaudited) with Debt at Par EXCLUDING undistributed current year revenue 667.24p INCLUDING current year revenue 675.71p NAV per Ordinary share (unaudited) with Debt at Fair Value EXCLUDING undistributed current year revenue 657.37p INCLUDING current year revenue 665.84p LEI: 549300HV0VXCRONER808
Edinburgh Investment share price data is direct from the London Stock Exchange
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