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Share Name Share Symbol Market Type Share ISIN Share Description
Manchester & London Investment Trust Plc LSE:MNL London Ordinary Share GB0002258472 ORD 25P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  6.00 0.94% 641.00 632.00 650.00 650.00 648.00 648.00 54,050 16:35:06
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 0.0 -1.7 -5.5 - 240

Manchester & London Inve... Share Discussion Threads

Showing 26 to 49 of 50 messages
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DateSubjectAuthorDiscuss
26/8/2020
15:22
Salesforce, which comprised 7% of Manchester & London last time they updated us, is up more than 25% today. Which ought to be positive for the MNL NAV.
digitaria
06/7/2020
18:53
Agree. I am late to the party but wanted some fang exposure. With Amazon up nearly 5 % today I'm already in profit.
superadams
06/7/2020
18:02
Far from dull imo. An excellent trust.
scottishfield
26/5/2020
11:09
Wow! He owns >50% of a fund? - that's very surprising, assume he must be making a lot of the decisions on investment too? I'll look again Thanks, D
dennisbergkamp
26/5/2020
10:44
FYI one manager owns 50+% of shares and he states in his blogs that he sells shares to help the markets maintain liquidity in the trust and that he buys more overall than he sells.
thruxie
21/5/2020
14:53
Darren, Not happy with those sells - was about to go in but thought I'd look in the BB first. Will wait to see what is happening here Thanks, D
dennisbergkamp
13/5/2020
23:53
Anyone know why there are sizeable director sales nearly every day?
darrenp746
27/4/2020
16:57
Absolutely it has performed remarkably well in the current market conditions, recovering very quickly from the large drop.
888icb
27/4/2020
16:26
Turns out six weeks after the drop it’s down “Sod All” to use the technical term. Most impressed with them, less impressed with myself for not buying on the dip!
davidblack
30/3/2020
19:16
30-Mar-20 14:23:29 526.84 1,032 Buy* 502.00 538.00 5,437 O 30-Mar-20 14:09:03 513.40 500 Sell* 502.00 538.00 2,567 O Real spread is much tighter than the headline shown. Instead of a 36p differential it was 13p this afternoon In reality. Often tighter than that.
darrenp746
30/3/2020
08:17
Interested to add here but the spread is ridiculous
panshanger1
29/2/2020
13:53
I hold six investment trusts in my SIPP, including MNL and they all took a severe bashing last week. Manchester & London fell by a whopping 18.85% !! In just one week the average drop was 17%, which is quite a bit higher than the global markets dropped in the last week. Not sure I understand why ITs suffered worse (other than travel related stocks) compared to other stocks and indices.. Anyway, here's the drop I observed on the 6 trusts mentioned above, in the last 5 market days only - 18.95% ATT - Allianz Technology Trust 18.28% THRG - BlackRock Throgmorton Trust 18.85% MNL - Manchester & London Inv Trust 14.86% PCT - Polar Capital Trust 13.69% SMT - Scottish Mortgage Trust 17.39% SSON - Smithson Inv Trust NB the average 5 day drop across these 6 IT's is: 17% - quite shocking really!
basstrend
17/2/2020
10:52
The 50%+ owner of the stock Mark Sheppard is keen to grow the Company through issuing shares and seems happy to take small losses along the way. It would appear he wants to turn this into the next Lindsell Train type fund manager and that means upping the size. Wish he would just hire decent PR and move the stock to a 1% premium and then he could do it easily and get institutions on board. Also it would be much cheaper for himself personally although if he turns MNL into a hot Fundmanager with $10bn under management over the next five to ten years then he gets a double win, the shares plus the value of the fund management company. With the huge market caps of the stocks he picks this is a million miles from Woodford’s nonsense detour into venture cap stocks, done by a previous income fund manger like NW. So the regulators would be quite supportive.
davidblack
14/2/2020
09:33
Any sensible explanation why the managers subscribed the shares at 609 p and then sold shares at 580 p.
riskvsreward
09/10/2019
12:08
from Citywire James Carthew: the global newcomer beating Lindsell Train & Scottish Mortgage If you could design your own investment company, what would it look like? For most of us the idea is a pipe dream but for Mark Sheppard, manager of Manchester & London (MNL), it’s a reality. While Manchester & London operates with all the usual checks and balances you’d associate with a stock exchange listed investment company, including an independent board and custodian, Sheppard has control of the £151 million trust, with 56.7% of the company held by M&M Investment Company, an unlisted company he controls. Sheppard originally qualified as a chartered accountant before working at investment bank ABN Amro Hoare Govett. More recently Sheppard has embarked on a BSc (honours) degree in Computing and IT, reflecting a passion for the technology sector that dominates Manchester & London’s portfolio. He is assisted by a team of three, including Brett Miller who has managed other listed funds, including a role behind the Damille activist trusts. The team also manages a small open-ended fund, M&L Global Digital and Technology, which had assets of just $21 million (£19 million) at the end of September. Manchester & London had always been managed with a focus on high growth companies but, prior to 2015, the bias was to companies benefiting from the growth of emerging markets and to companies listed in the UK. After a period of difficult performance in 2014, Mark began to rebalance the trust towards the technology, consumer goods and healthcare sectors. As the geographic remit broadened, Manchester & London soon took on the look of a global, large company portfolio. The subsequent performance was impressive but there was always a degree of sterling weakness flattering its returns compared to other trusts in the Association of Investment Companies’ UK All Companies sector. When the AIC revamped its sectors earlier this year, it was moved to the Global sector (while Independent (IIT) was shifted unwillingly to UK All Companies and Law Debenture (LWDB) happily found a new home in UK Equity Income). Now that it is being compared to an appropriate peer group, Manchester & London’s performance looks all the better. A year ago it beat Scottish Mortgage (SMT) to win Citywire's global investment trust performance award. I don't know whether it will do the same again this year, but looking at the latest data, In the Global sector over three years to yesterday Manchester & London ranks third with an underlying total return on net assets of 58.9%. This puts it behind only Lindsell Train (LTI), up 110%, and Scottish Mortgage on 59.4%. Remarkably, however, in terms of the three-year total returns received by shareholders, Manchester & London is currently number one! Its 87.5% growth reflects a re-rating that has seen the shares virtually lose all of the 21% discount to net asset value at which they used to trade. By contrast, Lindsell Train’s de-rating this year, with the previously exorbitant 109% premium falling to ‘just’ 28%, has cut the trust’s shareholder returns to 75% over the same period. Although Scottish Mortgage’s discount has widened slightly recently, its 50% three-year shareholder return demonstrates how the shares have broadly traded close to NAV. ‘Long the future’ Few managers of investment companies get to run a portfolio entirely composed of high-conviction positions but Sheppard does; Amazon, Alphabet, Microsoft, Alibaba and Facebook accounted for 56.9% of Manchester & London’s NAV at the end of August. Manchester & London buys large companies in developed markets that are rich in intellectual property. Sheppard sums up the approach as being ‘long the future’. Perhaps, its closest comparator, in terms of the long portfolio, would be Scottish Mortgage, but without the unquoted companies, making Manchester & London a bit more nimble. One of the many things that differentiates Manchester & London’s investment policy is that the portfolio is also short the past. At the end of August, long positions accounted for 121.5% of net assets and short positions – where Sheppard is betting the shares will fall – at -31.9%. The shorts include baskets of stocks selected for unfavourable traits such as having weak balance sheets or declining margins. The derivatives exposure can be adjusted quite easily, allowing the trust to adjust its market exposure. With economic growth stumbling and a US election looming with the rhetoric against drug pricing ramping up as it does every four years, the trust’s portfolio now includes very little consumer discretionary and no healthcare. Manchester & London does have a small amount invested in Scottish Mortgage and Polar Capital Technology (PCT) in addition to its direct tech investments. The geographic bias is to the US and China and the trust is net short of the eurozone. Many investors want fund managers who are prepared to follow their convictions. There is well-deserved antipathy to active managers who end up hugging stock market indices but Manchester & London is towards the other end of the scale. This makes it a bit ‘marmite’;. The shares now trade on a small 5% discount but that seems undeserved to me. In addition to the impressive performance track record, the trust is a reasonable size, pays a yield of 2.7% paid from capital and levied ongoing charges of 0.83% for the year to July 2019, down from 0.93%. Perhaps the strongest argument for the trust is the manager’s ‘skin in the game’. However, Sheppard’s punchy investment style, and implied portfolio volatility that is much higher than a broad market index, means this is not a widows and orphans trust, any more than perhaps Scottish Mortgage should be. James Carthew is a director at Marten & Co, operator of the QuotedData website. The views expressed in this article are his and do not constitute investment advice.
robow
31/7/2019
13:58
MNL LN has just posted yet another ATH NAV per share. This stock just keeps grinding higher! no-one ever notices...
fundgeneral
03/7/2019
18:58
Manager continues to sell
dekle
03/12/2018
19:42
Yes. You would expect that is he is bearish with his personal stake,he should go cash with the portfolio for his investors.
ceaserxzy
03/12/2018
19:11
Mark Sheppard continues to sell, scary
dekle
25/10/2018
08:30
Down 6% today; title of this thread needs changing: down over 20% in last few months conducive to sleepless nights!
deadly
05/6/2018
12:32
On the march again
robow
10/5/2018
13:13
Also Apple, alphabet Alibaba and Tencent. There is alot of good stuff is this Investment Trust.
888icb
10/5/2018
11:38
i think this trust is a good way to get exposure to the tech titans - big holding in amazon and microsoft .
gilesy
27/4/2018
09:44
Why does this investment trust jump 10% in a day, with no news posted....? Nice, but why?
vulgaris
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