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NSI New Star Investment Trust Plc

116.00
0.00 (0.00%)
18 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
New Star Investment Trust Plc LSE:NSI London Ordinary Share GB0002631041 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 116.00 113.00 119.00 116.00 116.00 116.00 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Unit Inv Tr, Closed-end Mgmt 4.74M 3.25M 0.0457 25.38 82.39M
New Star Investment Trust Plc is listed in the Unit Inv Tr, Closed-end Mgmt sector of the London Stock Exchange with ticker NSI. The last closing price for New Star Investment was 116p. Over the last year, New Star Investment shares have traded in a share price range of 109.50p to 122.00p.

New Star Investment currently has 71,023,695 shares in issue. The market capitalisation of New Star Investment is £82.39 million. New Star Investment has a price to earnings ratio (PE ratio) of 25.38.

New Star Investment Share Discussion Threads

Showing 76 to 99 of 250 messages
Chat Pages: 10  9  8  7  6  5  4  3  2  1
DateSubjectAuthorDiscuss
28/9/2014
07:45
Yes, that's a possibility. Trouble is he is unlikely to move away from Brompton. If they reversed Brompton in it would lead to loss of investment trust status, but not sure that would necessarily lead to any tax liability given the lack of gains actually made by the trust. Depends on his appetite to recreate New Star or Jupiter I suppose. I wouldn't be surprised if he still has ambitions to do that.
topvest
27/9/2014
23:43
As a fully-listed investment trust, I agree that present "related party" red tape would almost kill any reversal plans (and perhaps endanger investment trust tax status ?).

So, any reversal would need to offer a major attraction:

Might the whole shooting match get quoted in order to facilitate a third-party share exchange offer, with rollover cgt benefit being the main objective ?

coolen
27/9/2014
07:34
Yes, the three angles are probably:
-£0.5m of fees to Brompton;
-Inheritance tax reasons; and
-Retaining control of a listed company for a possible comeback.

Looking at Brompton Asset Management it is growing well with an Equity and Property fund management business. Made a £2.7m profit on £7.5m of revenue in 13/14 and it's growing strongly with over £1.1bn in FUM up from £0.7m in the prior year.

I suppose that this could also just be a placeholder investment until something better comes along. They could always reverse Brompton Asset Management into this at some point, although that's probably messy from a related party transactions perspective.

topvest
26/9/2014
22:57
The Brompton funds just seem to invest in other collectives, is that right ?

It is almost as if the "investment" managers are admitting to no bottom-up stockmarket expertise.

From Duffield's aspect, it presumably would cut his IHT bill if his wealth is standing at 70p in the £. HMRC can hardly argue against a share quote.

I'm struggling to find another angle which is more generous to the guy, given that he's a bright cookie.

coolen
26/9/2014
07:31
Not really and Duffield has 59%
topvest
25/9/2014
21:07
Other than Duffield, anyone of note with share stakes ?
coolen
25/9/2014
20:29
It's only in the best interest of John Duffield who owns a majority stake here and in the manager. But maybe he doesn't care about making more money and just cares about his empire. This company could do with some proper non-Executive Directors here. They could INSTANTLY change the share price by any of these courses of action:

1. Liquidate the company and pass funds back to holders.
2. Merge with another investment trust.
3. Appoint a new manager and change the investment strategy.
4. Change the investment strategy but keep Brompton.

I've always hoped that 3 would happen but there appears no appetite for change.

Surely, this is the worst performing investment trust on the London market. Can anyone name anything worse?

topvest
25/9/2014
20:21
I am not a shareholder so have not seen the latest accounts.

However, it is now a requirement of an investment trust to include a statement in the annual report why the continuing appointment of the investment manager is in the best interests of shareholders.

coolen
25/9/2014
19:32
Yes, total failure. John Duffield's strategy is bizarre. He seems happy to just keep money and not make anything at all. Very odd for such a successful man. Surely, he could actually find an investment manager who actually knows how to invest. This bunch are next to useless!
topvest
25/9/2014
14:00
Your Company's objective is long term growth.
May 2000 share price £1.00
So roughly 1% annual in assets & -2% (neg) annual in share price.

After fourteen years I'd say that's a failure. I'd like this company wound up, capital returned please.

jhan66
25/9/2014
13:45
Another set of "standing still" results. This company trades at a significant discount and use Brompton to churn out continually poor results. Same wording on the discount as last year. Yes, there is something you can do...change the investment strategy and manager. Look at what Majedie Investments achieved! Very poor stewardship on this investment trust.
topvest
24/2/2014
20:23
Anyone brave enough to ask for sight of their Conflicts of Interest Register ?
coolen
24/2/2014
15:23
Feels like a good alternative for cash which is surplus to requirements given the significant downside risk protection. I have bought some on this basis, but am only targeting returns of 5-10% p.a.

A safe(ish) place to park some surplus cash and forget about it for a few years in the knowledge that it would have only been earning c.2% in the bank.

Disappointing to hear that the company still has no intention to do anything about the discount despite having lots of cash.

scburbs
24/2/2014
14:27
minority being the operative word qwazi. i for one will hang around, the discount is simply too wide to ignore, one day i will smile having stuck this one out....
edwardt
24/2/2014
12:50
This has to be one of the worst investment trusts currently listed. Woeful performance. Surely John Duffield could have a better manager for this trust. A five year old or a random selection machine would have performed twice as well.
topvest
24/2/2014
11:54
...and how does the company manage the conflict of interest? The major shareholder gets a benefit from NSI investing in all these Brompton funds, but none of the minority shareholders do.
qwazi
24/2/2014
11:30
a pretty poor set of results and another push back from the board on the discount. i also see more brompton funds in the portfolio -anyone checked if there is double fees being booked here - probably is!
edwardt
15/10/2013
11:39
Anyone going to the AGM?
qwazi
29/9/2013
19:26
Although he controls New Star, I wonder how he would phrase a defence (ie. an explanation to minority holders of his rejection) in the event of conditional approach ?
coolen
29/9/2013
15:52
Well we don't need a dividend, we just need a manager with some investment ability! If the Board really cared they would tender the investment management contract. They probably won't do this as all the fees go to the owners company. Maybe John Duffield needs to attract a good manager. He must have known a fair few given his past career!
topvest
29/9/2013
13:23
"..your directors have explored various possibilities with a view to
reducing this discount."

Presumably they considered a "dividend" (in case they are reading this, a dividend is when you make a small annual distribution to your members !)

coolen
27/9/2013
19:33
The Board and investment manager are totally rubbish in my opinion. A 5-year old could run this company better. Massive discount. No meaningful NAV increase. No dividend. My portfolio is up circa 30% YTD and yields circa 4% and it's not even my day job. Why don't they find an investment manager that can do better? It's astonishing. They almost don't want to be successful. Makes you wonder whether John Duffield has a tax or other issue doesn't it? Surely, he would rather put this sort of asset with someone who isn't totally rubbish at investing and will make him a reasonable return?
topvest
27/9/2013
18:59
yep, satisfactory for who?? I can easily think of a 'satisfactory solution' for shareholders!
qwazi
27/9/2013
15:21
Your Company's shares continue to trade at a significant discount to their net
asset value. Your directors have explored various possibilities with a view to
reducing this discount but no satisfactory solution has been found. This
position is kept under continual review by the board.

i would love to know what they mean by 'satisfactory solution'!

edwardt
Chat Pages: 10  9  8  7  6  5  4  3  2  1

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