Share Name Share Symbol Market Type Share ISIN Share Description
Smithson Investment Trust Plc LSE:SSON London Ordinary Share GB00BGJWTR88 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  -8.00 -0.54% 1,477.00 232,067 16:29:05
Bid Price Offer Price High Price Low Price Open Price
1,477.00 1,485.00 1,489.00 1,454.00 1,459.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 21.64 -5.85 -5.27 2,616
Last Trade Time Trade Type Trade Size Trade Price Currency
17:58:50 O 8,668 1,477.00 GBX

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02/2/202322:26Smithson Investment Trust408

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Posted at 03/2/2023 08:20 by Smithson Investment Daily Update
Smithson Investment Trust Plc is listed in the Equity Investment Instruments sector of the London Stock Exchange with ticker SSON. The last closing price for Smithson Investment was 1,485p.
Smithson Investment Trust Plc has a 4 week average price of 1,326p and a 12 week average price of 1,263p.
The 1 year high share price is 1,720p while the 1 year low share price is currently 1,120p.
There are currently 177,097,958 shares in issue and the average daily traded volume is 326,106 shares. The market capitalisation of Smithson Investment Trust Plc is £2,615,736,839.66.
Posted at 02/2/2023 21:39 by cruelladeville
SSON had a very effective discount/premium control policy for a long while. I wonder what happened to it? Hopefully the discount will evaporate.
Posted at 02/2/2023 11:16 by cruelladeville
About time there was a bit of life in this stock! A long way to go yet though, 2022 was truly dreadful for SSON shareholders.
Posted at 10/11/2022 17:22 by cruelladeville
Thinking of dumping SSON if we see 1400p soon. I have been here from day one. What a massive mistake it was not selling out at 2000p. I am not sure I will live long enough to see 2000p here again? Anyone else here thinking the same thing?
Posted at 13/8/2022 07:09 by frederickbloggs
Yes, this discount needs to keep closing. 1500p share price again would be very nice.
Posted at 12/8/2022 09:34 by lomax99
Inflation has wiped 30pc from my portfolio – the worst may be over'Fund manager Simon Barnard explains why his £2.5bn investment trust will bounce backAfter it raised record-breaking sums from investors when it floated in 2018, the Smithson Investment Trust has had a torrid 2022 so far.The £2.5bn fund, which invests in global small and medium-sized companies, has struggled over the past 12 months, with its assets falling in value by 19pc. This compares with a 20pc drop from rivals and a 7pc loss by its sister fund Fundsmith Equity, which is managed by renowned investor Terry Smith and focuses on much larger companies.The trust's manager, Simon Barnard, tells Telegraph Money why he remains confident in his strategy following this tough period and why inflation may already have peaked.How do you invest?The strategy is identical to that of Fundsmith Equity in so far as we invest in a small portfolio of high-quality companies and we try not to overpay for them. We then do as little as possible, which means our turnover and costs are minimised. It also means the companies we own are given a chance to compound in value over time. In practice this means we aim to hold them for five to 10 years, but ideally we would hold them forever if nothing caused us to sell.In our opinion a high-quality company has to have high returns on capital, which means a good return on the money the business has invested. To get that you need high profit margins and strong cash flow. The difference between us and Fundsmith Equity is that we apply this to global small and medium-sized companies, whereas they tend to focus more on large caps.Do you avoid any companies?We tend to avoid quite a few sectors. This is determined by the areas that we see generate long-term shareholder value. Sectors we tend to like are technology, healthcare and those that are consumer-facing, which means we avoid pretty much everything else. This includes energy, commodities, heavy industrial companies, cyclical industries like airlines and cars, regulated industries such as utilities and asset-heavy industries like real estate.Why has the fund performed badly in 2022?Performance has been tough so far this year. As inflation has increased, the market has expected interest rates to rise to control it. Central banks are doing that, but it is the expectation of higher interest rates that has tended to reduce the valuations of our companies.They are high quality and quite fast growing, which means they have a lot more profit to come in the future than other parts of the market, so tend to have higher valuations. As interest rate expectations increase, the value of those future profits in today's money is ultimately reduced, which means the valuation falls.Overall, we remain confident in the long-term outlook of the companies we own, share prices aside. The strategy of investing in high-quality, growing companies has performed well through ­earlier cycles.What will happen to interest rates and inflation?Our strategy is to invest in good companies, regardless of future macro­economics. As we can't predict that, we don't spend too much time thinking about it. What I would say is that, given the increase in interest rate expectations that are weighing on the share prices of our companies, it makes sense that this pressure will be relieved once interest rate expectations from the ­market stabilise.That requires us to see the peak in inflation because as soon as that happens we can get a better sense of the overall size and shape of the interest rate cycle that is needed to contain inflation. Unfortunately, the actual peak of inflation can only be determined after the fact because we need to see a few months of declining inflation, but there is a possibility we could well be living through peak inflation now.Are your holdings protected against recession?The vast majority of our companies are not particularly cyclical. They have high margins and a lot of cash on the balance sheet with very little debt, so fundamentally they should be fine.What has been your best investment?Since we bought Fortinet, the cybersecurity company, in September 2020 it has gone up by 155pc. As you can imagine, issues in cybersecurity are not going away, recession or not.And your worst?Unfortunately, because the travel industry was devastated during the pandemic, the worst performer has been Sabre, a software company that serves the sector.In focus: MonclerThis Italian fashion brand is a well run company. It has high margins and returns on capital and is increasing its market share. It has also acquired Stone Island, another Italian luxury brand, which is in a similar position to where the Moncler brand was in the early 2000s. The firm is confident that it will be able to grow Stone Island just like Moncler.The travel industry is recovering only now. We have seen signs of life in Sabre, but it has been a long slog through the pandemic.   
Posted at 03/8/2022 10:04 by frederickbloggs
danieldruff2, thanks. I am retired and I think that eventually reducing my SSON in favour of less volatility might be a good idea. I don't need high yield. A moderate yield would be welcome. But maintaining exposure to global mid caps like SSON would be welcome too. Main thing going forward is I don't really want to hold stuff that can lose 40% in a few months.
Posted at 21/7/2022 11:42 by battyliveson
Good to see some improvement in share price and lessening of discount. It does seem rather strange for SSON to trade at a significant discount as I believe all of its investments are quoted on good liquid exchanges, and they don't use leverage. Any discount should simply reflect transaction costs (circa 1%) and allow for foreign market falls while UK is closed, (say 3%), although this can go in both directions. For the same reasons a premium seems equally illogical. Am I missing something.


Posted at 14/7/2022 13:10 by frederickbloggs
I hear you, but it's the share price we need to be most interested in. That's what we buy and sell at. Today at SSON website, it shows share price decline more than 41% year to date. That's a dreadful outcome for what's supposed to be a portfolio of the highest quality companies.I can do nothing now except sit and wait. I used to think SSON was a hold forever share. I am not at all sure about that any more.Of passing interest, my Fundsmith shares have been far less volatile this year. Even Blue Whale Growth Fund, a pretty high octane investment, hasn't suffered like Smithson has.
Posted at 14/7/2022 08:16 by frederickbloggs
2000p in two years? From here that's close to 80% share price appreciation in just two years. Whilst I would obviously love that to happen, I wouldn't bet on it. I have held here since launch and was delighted with it until this year. I am very disappointed how volatile it has become. Longer term, I'll have to think about this as I am not getting any younger.
Posted at 29/2/2020 13:30 by basstrend
Yes the SSON share price got clobbered, along with the global markets in general. This is down to general panic and hysteria over the coronavirus of course. Some might argue that some stocks were getting a 'bit toppy' too so maybe some form of correction was due at some point. I'm not sure about that.

I hold six investment trusts in my SIPP, including SSON and they all took a severe bashing last week.

In just one week the average drop was 17%, which is quite a bit higher than the global markets dropped in the last week. Not sure I understand why ITs suffered worse (other than travel related stocks) compared to other stocks and indices..

Anyway, here's the drop I observed on the 6 trusts mentioned above, in the last 5 market days only -

18.95% ATT - Allianz Technology Trust
18.28% THRG - BlackRock Throgmorton Trust
18.85% MNL - Manchester & London Inv Trust
14.86% PCT - Polar Capital Trust
13.69% SMT - Scottish Mortgage Trust
17.39% SSON - Smithson Inv Trust

NB the average 5 day drop across these 6 IT's is: 17% - quite shocking really!

Smithson Investment share price data is direct from the London Stock Exchange
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