River And Mercantile Uk ... Share Discussion Threads

[shaker44] 11/5/2021 11:09

Looking a good buy again after this pull back. See how the week progresses

[mike the mechanic] 28/4/2021 15:16

I agree, it's a novel way of improving the discount but a blunt instrument

[donald pond] 28/4/2021 09:01

Another redemption. TBH I would be quite happy if they allowed NAV to increase to £150m and used redemptions to bring it down to £125m. I don't feel it is too big at all and having to constantly sell MXCT in particular is bonkers.

[riverman77] 21/1/2021 15:52

The compulsory redemption is a positive move. Investors effectively getting a chunk of capital back at NAV. Should help to tighten the discount and recent performance also strong.

[a1samu] 12/1/2021 11:34

Now Capital Partners Richmond VA are declaring a holding of 6.14% completed on 11.1.21.

[a1samu] 12/1/2021 11:03

Derbyshire CC pension fund sold out all of its 6.25% holding on 8.12.20.About time !

[a1samu] 21/12/2020 12:12

It is not Stephen Coe they want. They want a highly rated fund manager, whom they refuse to find!

[a1samu] 21/12/2020 12:12

It is not Stephen Coe they want. They want a highly rated fund manager, whom they refuse to find!

[riverman77] 12/12/2020 10:06

Performance is strong so don't know what your issue is. I personally bought back in recently having sold a couple of years back when it went to a big premium and looked frothy. Now on 18% discount it looks good value. Looking at NAV return it's the second best performer on 1y and 5y, and amongst the top performers over 3y (this is in the small cap IT sector). Yes it had a bad spell in late 2018 but otherwise pretty good. The new FM is fairly inexperienced, but R&M have a big team of analysts to so not too concerned about that. The portfolio also looks good and I actually own several of their picks myself.

[tiltonboy] 12/12/2020 09:03

Question is then, why didn't you sell, and reinvest in one of those!

[a1samu] 12/12/2020 06:41

My issue is simple. I am totally angry with myself, for ever having invested in R&M. In my ignorance I invested in this cowboys run trust, who all they could do is to sack their two star rated manager and brought in Ensor who is absolutely incompetent and he will never recoup me my money!Underperforming Trusts like this is two to a penny and the industry is populated with them. I now know that I would have doubled my money by now, and more if I invested in Finsbury or Ibex or Apple.

It is quite right to call this "a difficult area of the market" and this is why this manager and directors are dishonest with their shareholders, by not asking to liquidate this trust altogether. Also it confirms that this cowboy outfit is not able to cope with this area of the market.

It is outrageous to have to sit around, hoping that they will buy back some shares, whereas they should be preforming in a substantial and serious way, which they do not do, mind you I do not know of any other trust that may be outperforming them and therefore the segment invented is just hopeless and has been created just to give some overpaid directors and managers exhorbitant wages at the expense of the shareholders.

[tiltonboy] 11/12/2020 13:36

a1samu,

Edited, thanks.

I don't know what your issue is with the managers. In a difficult area of the market, they have performed well.

[a1samu] 11/12/2020 10:49

Bit of a wishful thinking tilton. MC is £85M @1.82, but £107M @ Net assets of £2.3153, which is pie in the sky. If Ensor and his directors and other managers were rated managers, we would not have stupid issues like this!

In July 2018 NAV grew to £112M & £12M was returned at a share price of £2.1659 each of the redeemed shares.

[tiltonboy] 08/12/2020 15:32

NAV up to £107m. The next Tender may not be too far away.

Managers doing a fantastic job!

[pugugly] 03/10/2020 10:24

Nice recovery since April but spread still too wide - Discount still interesting but spread increases risk of loss unless long term hold - but illiquid and lock-in risk (imo)

[mike the mechanic] 28/7/2020 10:15

Yes, RMMC is tarred by other small ITs and the wide buy/sell spread. Good to see movement today

[nimbo1] 28/7/2020 08:26

was buying this recently - decent underlying NAV performance and this is too cheap discount wise!

[a1samu] 04/2/2020 13:26

There should be something this fund manager should be able to do to narrow the gap between net asset value and share price like buy back shares if he is unable to pick winners, which the market believes by downgrading substantially the value here!

Discount or premium is an indicator as to the prospects of a fund.

This fund is habitually under performing and shareholders can only sell the shares at a massive discount!

The best solution would be to wind up this fund and return the monies to the shareholders.

This is a repeat of Woodford, the Manager having spent all of his cash, sitting om his hands, hoping something will turn up and in the meantime regardless his responsibility towards his shareholders, continues to charge them fees, costs, wages whatever he can get away with! The FCA should step in and liquidate hopeless situations like this, just like they have never done it with Woodford!

[skyship] 11/11/2019 12:48

Bought in today on a 13% discount after Farage decides not to contest the 317 Tory seats. Great news for Brexit and great news for a Tory victory in the GE.

[riverman77] 31/8/2018 12:27

Just bought back in here on a 8% discount by my reckoning. This seems to have stabilised now after the earlier wobble. The compulsory redemption mentioned above is one of the best things about this Trust in my view - fund managers are usually focused on making their funds as big as possible to maximise fees, to the detriment of performance. This fund has a cap of around 100m to ensure they can stay nimble, which is very refreshing. Investors can simply top up their holding if they want to maintain their exposure.

[mad foetus] 10/8/2018 09:05

i like the compulsory redemption, though would like the facility to convert into another R&M fund. The key point is that it is not in the manager's interest: they are on a percentage fee so a bigger market cap suits them. what it does is ensure that the focus remains on microcaps and does not drift to small caps. so i see nothing to complain about, and although the number of shares we hold declines, the overall value should not.

[petewy] 10/8/2018 08:53

Henry: I have had shares redeemed but not been paid although Corporate action says "around"
August 10th
Got paid later today.