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Share Name Share Symbol Market Type Share ISIN Share Description
North Atlantic Smaller Companies Investment Trust Plc LSE:NAS London Ordinary Share GB0006439003 ORD 5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  40.00 1.0% 4,060.00 3,950.00 4,060.00 4,060.00 4,050.00 4,060.00 3,156 16:35:18
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 7.9 0.5 3.8 1,079.8 586

North Atlantic Smaller C... Share Discussion Threads

Showing 251 to 273 of 300 messages
Chat Pages: 12  11  10  9  8  7  6  5  4  3  2  1
DateSubjectAuthorDiscuss
27/10/2020
20:30
Just found this, a very rare opp to listen to the legend: htTps://www.voxmarkets.co.uk/articles/christopher-mills-the-uk-s-best-performing-small-cap-fund-manager-on-5-stocks-he-likes-434024b/
rambutan2
27/10/2020
20:06
The performance is very good. NAS has nearly tripled in a decade and Oryx has done even better. NAV performance is a c10-12% per annum compounder. I'm not greedy and invest in things that have a strong chance of doing 10%+ a year which is my minimum hurdle. I'm not really interested in things that can't make 10% per annum long term. I've always felt that NAS is better / certainly safer than Oryx. Oryx has out-performed of late as is more fully invested whereas NAS is more prudently positioned for the nightmare economic scenario we are now facing. It does mean that NAS has significant firepower when the value is there for some good deals. NAS also owns a significant % of Oryx. Odyssean are also part owned by NAS and if the manager doesn't perform to his high expectations, I expect Christopher Mills to muscle in on this one as well at an opportune time! From a few years ago: "Christopher became the Investment Manager for what was then Montagu Boston in 1982 and he became our Chief Executive in 1984. Since then the net asset value is up over one hundred times." Obviously when / if Christopher Mills retires then the investment trust may get liquidated and then the discount would likely go as well, but would lead to some short-term uncertainty no doubt. There is some risk on this front I guess!
topvest
27/10/2020
14:33
I bought this along with Oryx International last October, but decided to dump it based on performance while looking to rebuild some cash reserves. I thought it might be more defensive due to the t-bills but it didn't really turn out that way, plus I think I'd rather have the cash in my pocket than someone else's. My Oryx holding (with a little trading) is up about 40% while this was slightly negative over the same period. Edinburgh Worldwide and Herald have also given it a pasting, both coming from the same IT Global Smaller Companies category. I'm sure it'll get back on track eventually, but it was difficult in my mind to justify owning over the other 3 previously mentioned trusts.
psync
27/10/2020
13:23
Where's your return tho - barely budged over 3 yrs (or the 3 discreet years pre-Covid), & 1% divi. Significant key man risk, & too much in OIG & T-Bills. Just looking at the bear case - agree it's a great IT, but not sure a 30% discount isn't about right. 1.2% ongoing charge (HL), & the Top 10 not difficult to replicate (tho the one I'm looking at no doubt out of date).
spectoacc
27/10/2020
12:03
Given the fantastic long-term performance record, this trust doesn't appear to get the credit and appreciation that it deserves.
topvest
27/10/2020
10:41
I've doubled up my holding recently. They seem to be in a sweet spot on some of their healthcare holdings. I notice that Source Bioscience listed on AIM today. Looks like their 29% holding is worth £30m and they raised some cash from shareholder loans so a very useful return indeed. Chris Mills is always the opportunist!
topvest
07/10/2020
12:29
They had £44m of treasuries at interim mark. Spent £392K yesterday so if they spent them all they could in theory keep this up for 100 days at current prices. I doubt they'd spend that much but volume is not much more than 14,000 shares a day so it would probably help a lot to close the discount to NAV. They are floating off some of their biotech investments too so that should help NAV a fair bit.
loglorry1
07/10/2020
11:35
They must have heard you SpectoAcc! Buying their own shares at last.
chinahere
17/9/2020
08:21
Just very cautious. I think there's better than 50/50 chance of revisting the lows over the next year and cash will come in handy even if eroded by 4-5% real inflation in the meantime. Interested to see Mills moves from this point on.
p1nkfish
17/9/2020
07:04
They've had those US Treasuries forever - slightly fewer than before, but still. If they don't spend the money now, when will they? (Surely there's a case for buybacks at a c.30% discount to NAV, rather than earning "..Almost nothing.." on T Bills?).
spectoacc
17/9/2020
06:20
No way to know, a very cryptic mention and a bit of a tease. I think NAS is raising whatever cash it can via taking advantage now ready for something. Perhaps an anticipated big turn down or changes to landscape post Brexit. Some bargains will be thrown up.
p1nkfish
16/9/2020
21:59
the other possibility to list mentioned - is that likely to be the holding company for interactive investor?
mw8156
16/9/2020
21:38
yes, excellent news. Definitely the right time to list the healthcare companies. Opportunistic as ever!
topvest
16/9/2020
21:00
SBS due to see a public offering in Sept 2020, return to market.
p1nkfish
16/9/2020
21:00
SBS due to see a public offering in Sept 2020, return to market.
p1nkfish
16/9/2020
20:49
Interims out: chief executive's review During the six month period under review the fully diluted net asset value fell by 9.7% (with Oryx under the equity method of accounting) as compared to a rise in the Sterling adjusted Standard & Poors Composite Index of 2.4%. The performance however compares very favourably with appropriate UK indices. The Company incurred a loss for the period of GBP629,000 (31 July 2019: profit of GBP3,671,000) as dividends were slashed in the UK and interest income on US Treasuries fell to almost nothing. The Company did not purchase any ordinary shares for cancellation during the period. quoted portfolio The COVID pandemic materially impacted a significant part of the quoted portfolio which resulted in some of our businesses such as Gleeson and Ten Entertainment closing entirely for a period. Stobart was also very hard hit as its principal asset Southend Airport ground to a standstill. Whilst these businesses are now once again operating, it most likely will take a long time before they return to normality and their share prices return to former levels. Against that, it was fortunate that the portfolio has some exposure to life sciences with EKF, Renalytix and Ergomed (which has now been sold) all performing well. Finally, Oryx very significantly outperformed its benchmark again and Odyssian also outperformed, although to a much lesser extent. US portfolio The US portfolio, albeit small, materially underperformed the S&P due to its heavy exposure to banks. unquoted portfolio The investment in Jaguar Holdings a provider of airline catering services had to be written down, although it is pleasing to note that the group remained cash flow positive throughout the period. Sherwood Holdings (Source Bioscience) however benefitted from COVID testing and was written up in anticipation of a public offering which is expected to occur in September. It is also expected that Verici DX will be listed in September with very strong demand already in place from institutions. Finally, there is a possibility that another of the unquoted investments will go public at a very substantial premium to the July valuation although, if this happens, it will be towards the end of the year. Outlook Stock markets, and in particular the United States, have performed extraordinarily well given the damage done to public finances and the economy. As worldwide schemes to protect employment are unwound and unemployment rises, it is hard to be overly optimistic about corporate profits in most industries. We do, however, expect a modest level of corporate activity which might give some underpinning to equities. We did however take the opportunity of the weakness in the market to build new positions in Circassia and Tribal Group, both of which based on end August share prices have performed well since purchase. Finally, Assetco was largely successful in contesting Grant Thornton's appeal so hopefully the Company will receive a substantial cash injection as the lawsuit reaches conclusion and the company returns cash to investors. C H B Mills
rambutan2
28/7/2020
11:54
The Board announces that as at 30 June 2020 the unaudited net asset value per share (excluding current period revenue) under the equity accounting method was 4,108.60p.
davebowler
26/6/2020
13:43
30% discount to NAV.
davebowler
26/6/2020
13:42
The Board announces that as at 31 May 2020 the unaudited net asset value per share (excluding current period revenue) under the equity accounting method was 4,050.05p.
davebowler
02/6/2020
14:02
Cracking first name for our Director mentioned in the RNS. Jay, Robin or even Phoenix doesn't come close to Peregrine!
davebowler
28/5/2020
11:04
Discount to this NAV is now 27% ! The Board announces that as at 30 April 2020 the unaudited net asset value per share (excluding current period revenue) under the equity accounting method was 3,836.28p.
davebowler
14/5/2020
16:55
hTTps://www.stockomendation.com/rns/27680133
davebowler
14/5/2020
07:40
Thanks @p1nkfish. Not forgetting Trump's bleach approach! Anti-malarial been debunked I thought, & above is only Phase II. Remdesivir still the big hope IMO, tho not without some serious side effects.
spectoacc
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