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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| River And Mercantile Uk Micro Cap Investment Company Limited | RMMC | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 2.50 | 1.60% | 158.50 | 14:42:47 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 156.00 | 156.00 | 158.50 | 158.50 | 156.00 |
| Industry Sector |
|---|
| EQUITY INVESTMENT INSTRUMENTS |
| Top Posts |
|---|
Posted at 19/2/2024 12:15 by tightfist The Citywire pitch by George Ensor was IMO a good listen, in economics and Micro-caps in general. He mentioned the on ongoing RMMC spread issue. |
Posted at 28/7/2020 11:15 by mike the mechanic Yes, RMMC is tarred by other small ITs and the wide buy/sell spread. Good to see movement today |
Posted at 15/7/2018 18:27 by tin5866 Thank you, westcountryboy.Excuse my ignorance, but could the company not pay investors a 'special dividend' of some sort rather than cancel shares? Surely, that would be more accretive for shareholders - a nice payout and still the same number of shares held... I know I can't moan about the deal I signed up to, but still this is not nice reading: "To the extent that any redemption takes place at a time when the Ordinary Shares are trading at a significant premium to the prevailing unaudited NAV, Shareholders may receive an amount in respect of their redeemed Ordinary Shares that is materially below the market value of those shares prior to redemption." |
Posted at 13/7/2018 19:58 by westcountryboy The shares are redeemed at the stated price so you are deemed to have sold them at that price and obviously you then have fewer shares. What the share price subsequently does is up to the market. The share price has been depressed recently for other reasons, to do with the forced change of management - perhaps unreasonably (I think so anyway). In the recent past RMMC traded at a premium to NAV which was probably also unreasonable. In general I think a discount of 5-10% to NAV is the most likely share price outcome going forward, assuming the market gets more comfortable with the new management's performance. |
Posted at 15/2/2018 15:28 by slopsjon2 Article in Shares mag page 6Shock as highly respected small cap fund manager is pushed out Experts now believe several River & Mercantile funds could see big outflows SHARES IN investment trust River & Mercantile UK Micro Cap (RMMC) have started to recover after falling nearly 20% in the days after fund manager Philip Rodrigs was pushed out (7 Feb). Reports suggest conduct issues relating to Rodrigs were unearthed after more stringent systems and controls were drafted in by asset manager River & Mercantile (RIV) following an ongoing FCA competition investigation involving R&M and other investment managers relating to IPO price fixing. River & Mercantile said Rodrigs had left the business ‘following an investigation into a professional conduct issue’ although it clarified the conduct issue was unrelated to his portfolio manager responsibilities. Rodrigs was also manager of open-ended funds River & Mercantile UK Smaller Companies (GB00BC4DSV56) and R&M UK Dynamic Equity (GB00B7H1R583) , which have subsequently seen an estimated £43m of outflows according to calculations by stockbroker Numis on 12 February. Numis forecasts £650m of net outflows by mid-2018 in these two funds, accounting for just over half of the combined assets under management (£1.2bn) before the news. Stockbroker AJ Bell has removed River & Mercantile UK Smaller Companies from its ‘favourite funds’ list on the grounds that Rodrigs was considered to be a vital part of the fund’s investment process. His departure has led to the fund being replaced by Franklin UK Mid Cap (GB00B8K8HH50) on AJ Bell’s preferred funds list. (JC |
Posted at 09/2/2018 13:34 by mad foetus SEC was similar when it lost its manager. From now RMMC should show whether its record was down to Rodrigs stockpicking or R&Ms propriety approach. |
Posted at 08/2/2018 13:06 by riverman77 Unless there is a discount control mechanism in place which seeks to fix the discount at a particular level, discounts & premiums are entirely driven by the demand for the share. Investment trusts typically trade at a discount to nav, but there are a few, such as RMMC until yesterday, that trade on a premium. This is usually due to high level of confidence in the manager and strong performance. The concern here is that the market may no longer attach a premium to the shares until the new manager proves himself. Discounts of 10-15% are not uncommon in the small cap space. I reckon RMMC is now on a 10% discount, but I wouldn't necessarily consider this bargain territory relative to other small cap funds. Given all this I wouldn't be surprised to see this drift to a 15% discount in the near term. |
Posted at 07/2/2018 10:27 by henryatkin TweetFunds Fanatic @FundFanatic 38m38 minutes ago River and Mercantile has sacked fund manager Philip Rodrigs for a 'personal conduct' issue unrelated to his funds. George Sensor to take over UK Micro Cap trust (RMMC). Today's rebound in the shares halted. |
Posted at 22/1/2018 12:47 by petewy I bought in last May as a punt as I like the portfolio but no dividend. TAP PRSMDidn't expect this sort of rise. |
Posted at 19/5/2017 09:55 by nimbo1 Hi henry that is interesting. Which funds did you use? In the smaller company space I use investment trusts and then hold individual positions where the investment trusts already own the stocks (dd) and I particularly like the story. RMMC really does offer something different in the investment trust space. |
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