Share Name Share Symbol Market Type Share ISIN Share Description
Independent Investment Trust Plc LSE:IIT London Ordinary Share GB0000811686 ORD 25P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  20.00 3.61% 574.00 570.00 572.00 570.00 566.00 566.00 20,774 16:35:02
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 4.1 3.3 6.1 94.3 305

Independent Investment Share Discussion Threads

Chat Pages: 1
Would any experienced holders of this IT have a view on whether they would still buy it for UK exposure and at the expense of what other alternatives, I have looked at it several times over the past few years as it struck me as an IT that did very well a few years ago on the back of Blue Prism but has not done anything since to make it stand out, whilst the lead manager seems to have a very good record with this IT I also understand it would wind up when he retires so without a succession plan would this be one I have simply missed out
I've doubled up today. Max Ward is a reliable performer. He has had a rough patch recently, but should deliver 10%+ per annum without too much difficulty from here. A possible wind-up in the next decade is also likely given the age of the two Baillie Gifford founders as and when they decide to fully retire.
There is a detailed report on Independent Investment Trust's recent AGM which can be found in our members area here: hTTps:// To access the report, you'll need to be a full member of ShareSoc, which is a not-for-profit organisation that supports individual shareholders and campaigns for shareholder rights. If you're not already a member you can join here: hTTps:// Once you've joined, you'll receive an invitation to register for our "members network" private social network, from where you'll be able to access the report (and reports on 100s of other meetings). If you're already a member and have any difficulty accessing the report, please do not hesitate to contact us here: hTTps://
very prescient Douglas
..addendum historically IIT has traded more often at a discount..par to nav is no big deal really on this one from where I'm sitting.Even more so when you consider the weighting.Some people would consider Fevr now to be ex-growth,and Prsm,whilst having an adoring fan club cannot afford a mis-step .The weighting of builders may also detract.A 5%+ discount is very possible ,and depending on the direction of travel at that time I would take a view.
douglas fir
tx for that.. I've always followed Douglas McD on this one.
douglas fir
from Investment Trust Insider Not every investment trust bargain has to offer a wide double-digit discount like Patient Capital. Sometimes a trust can be cheap when it no longer trades on an expensive rating. A great example of this is Independent (IIT) investment trust run by veteran stock picker Max Ward (pictured). Independent has a magnificent track record, delivering a 454% total return to shareholders over 10 years, smashing the 138% gain in the FTSE All-Share index. Last year the shares soared over 70%, as Ward’s big bets on house builders, Blue Prism (PRSM), the automated business software provider, and tonic maker Fever-Tree Drinks (FEVR), surged, leading to Independent winning a Citywire investment trust performance award. All this caused eager investors to pile in and propel the stock to a 20% premium over NAV. That was clearly unsustainable and after concerted share selling by Ward and his co-directors, and with builders retreating in response to a house price slowdown in London and the South-East, the bubble burst. After a 16% slide over the summer the shares have lost their premium and at last night’s close of 668p stood close to ‘par’ or NAV. This could be a good entry point into the £374 million fund if you trust Ward’s nose for good growth businesses.
have always been a fan and supporter of Max...but... top 5 hldgs now comprise >40% Blue Prism plc Ordinary 1p 13.20% Fevertree Drinks plc Ordinary 0.25p 9.80% On The Beach Group plc Ordinary Shares 1p 6.37% Ashtead Group plc Ordinary 10p 6.22% Redrow 5.76% Herald Investment Trust Ordinary 25p 5.33% Midwich Group plc Ordinary 1p 5.33% Crest Nicholson Holdings plc Ordinary 5p 4.03% FDM Group plc Ordinary 1p 3.73% Motorpoint plc Ordinary 1p 2.75% now trading at a discount for the first time since Spring 2017...does this signify an increased perception of risk,or a natural pullback to become better value? Certainly very little margin for error/the unexpected here whichever way you view it IMHO
douglas fir
And this IT has shown decent swings in the past...just read their material and ensure you have bought into their abilities. If I had spare cash, I would be buying in again plus I would add to my mnks holding
Douglas McDougall sold 25,000 shares on 1st August, but then he has sold similar batches over the last few months, so probably just exercising rights whilst the price was good. The price is close to the NAV, so I expect the price will rebound in the next few days. There has been 127,000 shares traded today so far, probably a lot of selling, may be stop losses. Their main holdings are looking okay so unless there is any other bad news I can't see the price going below the NAV and it should rebound. Best to sit tight and avoid panic selling.
These are their top 10 holdings Blue Prism Group PLC 10.8% Fevertree Drinks PLC 9.5% Ashtead Group PLC 6.4% Redrow 5.9% Herald Ord 5.4% Midwich Group PLC 5.3% On The Beach Group PLC 4.9% Crest Nicholson Holdings PLC 4.2% FDM Group (Holdings) PLC 3.9% Motorpoint Group PLC 3.0%
Indeed, the nav has been constant last few days around 650, so drop is odd, maybe sellers around.
Just watch its premium and buy when it is low enough to satisfy you. It is a well run trust.
Yes premium was v high. Possibly buying opp u reckon soon?
Only guessing that the premium became just too high....I think it got to around 2o+% vs its lows of -12% discount. I am not sure if their holdings as I sold out a while ago due to the high premium.
Dropping a bit, any reasons why..
I love IIT a well run I.T.
For the header please. hTTp://
This came to my attention recently, any thoughts, followers? hxxp://
Max didnt you see this coming; do we still hold 5% of our assets in Northern Rock?
Do you have a relative or a friend that works at a PLC ? Is your wife a finance director at an AIM company ? Does your cousin work in the postroom of a biotech company ? Please post all inside information here, so that your fellow free bb posters can share the good luck. To kick off, my brother works at Barclays in Maida Vale, and one of their tills was £30 short last week. At Barclays, there is a huge investigation if the till is more than 5p out, so I suspect their results for next year won't be as high as £7.1billion.
frank spencer
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