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  1. Home
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  6. Rights & Issues Investment Trust Plc (RIII)

  7. Rights & Issues Investment Trust Plc (RIII) Share Price

RIII

Rights & Issues Investment Trust Plc

1,935.00
0.00 (0.0%)
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Share Name Share Symbol Market Type Share ISIN Share Description
Rights & Issues Investment Trust Plc LSE:RIII London Ordinary Share GB0007392078 ORD 25P
  Price Change % Change Share Price Shares Traded Last Trade
Upgrade Icon
  0.00 0.0% 1,935.00 1,297 01:00:00
Bid Price Offer Price High Price Low Price Open Price
1,930.00 1,940.00 1,935.00 1,935.00 1,935.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Trust,ex Ed,religious,charty -53.09 -54.25 -439.90 - 142.57
Last Trade Time Trade Type Trade Size Trade Price Currency
11:17:04 O 400 1,930.00 GBX
Related Shares
London Stock Exchange (LSEG), 3i (III), Mode Global (MODE), Agriterra Ld (AGTA)

Rights & Issues Investment (RIII) Latest News

Rights & Issues Investment News

Date Time Source Headline
26/5/202314:33UKREGRights and Issues Investment Trust PLC: NAV-Net Asset Value(s)
25/5/202316:53UKREGRights and Issues Investment Trust PLC: POS-Transaction in Own Shares
25/5/202311:51UKREGRights and Issues Investment Trust PLC: NAV-Net Asset Value(s)
24/5/202317:02UKREGRights and Issues Investment Trust PLC: POS-Transaction in Own Shares
24/5/202312:37UKREGRights and Issues Investment Trust PLC: NAV-Net Asset Value(s)
23/5/202313:49UKREGRights and Issues Investment Trust PLC: NAV-Net Asset Value(s)
22/5/202316:54UKREGRights and Issues Investment Trust PLC: POS-Transaction in Own Shares
22/5/202311:21UKREGRights and Issues Investment Trust PLC: NAV-Net Asset Value(s)
19/5/202316:58UKREGRights and Issues Investment Trust PLC: Transaction in Own Shares
19/5/202312:55UKREGRights and Issues Investment Trust PLC: Net Asset Value(s)

Rights & Issues Investment (RIII) Discussions and Chat

Rights & Issues Investment Forums and Chat

Date Time Title Posts
13/4/202317:06trust investing in rights issues and small companies36

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Rights & Issues Investment (RIII) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
10:17:051,930.004007,720.00O
09:27:421,930.005009,650.00O
07:26:331,930.003977,662.10O

Rights & Issues Investment (RIII) Top Chat Posts

Top Posts
Posted at 07/5/2017 19:08 by nimbo1
This gem of a fund is a well-kept secret

By: David C Stevenson
05/05/2017
0 comments
Value investors are an odd, difficult bunch. It’s in their nature to be a bit cussed and contrarian. They’re also usually very individualistic and secretive, which I suppose goes with the profession. If you find a true gem of a stock, trading at below its “intrinsic value”, your first instinct is to keep mum and not tell the world. Hence tracking down reputable value managers is a bit like hunting down gems in the investment rough. You’ve got to ask around among other value nerds for clues, while also digging into boring reports and accounts.

Simon Knott is one example of an elusive value manager. Search for his most established fund, the Rights & Issues Investment Trust (LSE: RII), and you’ll encounter… well, very little. The truly diligent could comb through the trust’s regulatory news service releases to understand more about it – but you can save yourself a lot of bother by making use of the excellent fund summary available via Kepler Partners’ investment trust intelligence service.

The Kepler report on RII is a very good summary and rings true with the accounts I’ve heard from other value fund managers. Their message is simple. If you want to invest in small UK stocks, it’s worth having a look at this trust.


RII focuses on small caps and is very concentrated in a small number of key holdings (the top-ten holdings account for 83% of the portfolio’s total net asset value (NAV)). Portfolio turnover is low (2% on one measure), which indicates a high degree of long-term conviction in the portfolio. The trust has a market cap of around £188m and a current dividend yield of around 1.5%. It is the cheapest member of the AIC UK Smaller Companies sector, with an ongoing charge of 0.59% and no performance fees.

Knott has run the RII since 1984, and owns 5.13% of the voting shares, while his family owns 15% in total. As with so many of his value-investing peers, Knott’s forte is picking ignored stocks where he can visit the management and get up close and personal. Top holdings in the fund include bonding and adhesive manufacturer Scapa Group, and chemicals company Treatt, which specialises in fragrances and essential oils. Over the past 20 years the trust has delivered a NAV return of 2,053%, compared with returns of 577.5% and 485.9% from the Numis Smaller Companies ex-Investment Companies index and the AIC UK Smaller Companies sector respectively.

Given these numbers, you’d have thought the board would have done some marketing. They haven’t. This reluctance to shout about the fund has meant that the discount has gyrated around violently and is currently at around 12%, after some fairly heavy share buybacks and the Brexit-induced small-cap sell-off. To make matters even more complicated, the fund used to boast a two-tier structure with capital and income shares, but that’s been quietly phased out now.

This trust will be a volatile ride, its shares aren’t heavily traded (in fact, it’s the second least-traded small-cap trust) and it’s run by a board and a manager with a vampire-like aversion to marketing. But if you can get past this, you’ll get an experienced stockpicker with real expertise, skin in the game, a great track record, and low charges.
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Posted at 15/9/2016 14:35 by davebowler
The Net Asset Value (NAV) at 31/08/2016 was:

Number of
shares in
issue:

Per Income share (bid price) - including 1,735.61p 9,020,000
unaudited current period revenue*

Per Income share (bid price) - excluding 1714.26p
current period revenue*

Income share price 1465.00p

Discount to NAV (15.59)%

*Current period revenue covers the period 01/01/2016 to 31/08/2016
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Posted at 20/8/2016 16:15 by rambutan2
Oops, missed last nav. And it in much improved and clearer format.

http://uk.advfn.com/stock-market/london/rights-issues-RIII/share-news/Rights-Issues-Net-Asset-Values/72202612
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Posted at 28/4/2016 11:58 by davebowler
The shareholder vote is scheduled for 2 June 2016.
We believe that a single share class structure is likely to increase the attractiveness of RIII. In
addition, the discount control mechanism proposed should ensure that the fund trades at a
significantly lower discount than what it has traded at over the last five years. If the
proposals of the Board are approved by shareholders we believe the fund should trade
relatively to close to its NAV for substantial periods of time, given the exceptionally strong
long-term performance of the fund, the low total expense ratio (0.48% for the year ending
December 2015) and the discount control mechanisms that would be in place.
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