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Hidden value extremely well hidden!! I am hoping the non release of daily NAVS will spring a surprise come the next quarters release. Management still keen to hoover up shares on the buyback which is encouraging. I have INOV as one of my top tips for 2024 and will keep dripping cash in alongside the buybacks at 45% discount to NAV.
Aah, we're back into the 11's again... a smidgeon off the all-time lows once more...
Been a great investment this one, breathless performance, can barely keep up!
My tweets to TiceRichard [PasajeroToro/status/1742941953472200948]:
Regulate stock issues to
#FTSE #AIM to prevent over dilution of holdings of shareholders.
Rule 1: Companies must provide new evidence of new value in their ventures for new placements to go ahead & if they don't qualify they can only issue bonds at +2% pa min rate
Choices:
A. Rule1 for share placement
B. Do nothing
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Rule 2: If corporate bonds do not sell due to bearish market conditions, companies can make a request to the treasury to help back their bonds with insurance, but their capital gains tax threshold must be reduced according to
(eg, in proportion to) the amount insured.
I have to take issue with this statement: "Nor is there much evidence of optimism among the board of directors of this disaster. Despite one of them serving since 2015 and their annual fees ranging between Β£31,000 and Β£48,000, only two out of five have more invested in INOV"
Here are their quoted holdings on ii:
Dr. Scott Selby Durrand Brown: 78,269
Mr. Stephen Cohen: 309,737
Ms. Jane Tufnell: 500,000
Mr. Tim Edwards: 210,230
I don't think any of these directors bought at today's prices, which is the price Ian is using. They more than likely bought at a much higher price which paints a completely different picture. Like us they are probably sitting on big loses. I don't know why he presented it this way given he's a holder.
This from 31/10/23 Wonder if they made a gain on there holding .
Schroders Capital Global Innovation Trust PLC - London-based investment trust focused on a diversified portfolio of global private and public equity companies - Says cybersecurity portfolio firm Tessian to be acquired by Proofpoint. "The agreement is expected to close in late 2023 to early 2024, subject to customary closing conditions and required regulatory approvals. Details of the transaction were not disclosed," SCGIT says. It had made USD6.8 million investment in Tessian back in May 2021.
Got it ...lol
Schroders Capital Global Innovation Trust plc, formerly Schroders UK Public Private Trust and before that Woodford Patient Capital Trust,
15p today.
No idea why I bought into this trust in March 2016 at 87p
Hindsight not a good one.
Then averaged down 14 times .
LOW 21/3/23..11.74p ... 87% below the first buy .
Makes my own share picks look good.
18/5/20 Sell 25p
04/5/20 Buy 22
28/4/19 Buy 23
15/10/19 Buy 34.5
2/8/19 Buy 44.9
30/7/19 Buy 49
29/7/19 Buy 51.9
14/6/19 Buy 59
5/6/19 Buy 65p
19/3/18 Buy 71p
15/3/18 Buy 73p
7/12/17 Buy 81.65
23/10/17 Buy 89.75
06/4/17 Buy 89.75
19/1/17 Buy 92p
8/3/16 Buy 87p
Tessian sale announced two days ago. INOV off the starting blocks and into second gear......................
π
Those dog days are gone!! Intrinsic value from underlying assets still to be realised + ongoing share buybacks for some time yet.
See this dog is over 15 now. Wow!
Certainly not the time to sell, when the shares trade at a conservative discount to NAV of over 40%
Well finally the share price is going up.... accepted that the company is buying it own shares and that's the demand : ) but not a the time to sell ..!! ; ))
Oppa - I agree (some) things are improving here. Atom will ipo at some point, ONT is exceeding its growth forecasts at growing gross margins. I really like Sabre too - its reaction engine is a spectacular British technology allowing an engine to work as both a jet and a rocket. The implication is space travel, military use but now hybrid engines running both hydrogen (rocket) and jet (sustainable aviation fuel or electric turbofans). Revolut too.
Yet, and yet. I track the NAV daily and look for a turn. But the nav continues to decline. So personally I wouldnβt average down here as there are better options elsewhere - IPO also holds ONT and has a much better record or CHRY which also holds revolut Or AUGM. Or GROW.
Iβm reluctant to sell my small holding in INOV but wonβt yet add.
Good luck.
I agree with you Uncle Doug, no immediate prospects of meaningful increase in SP. Thatβs precisely why Iβm dripping money into this on a monthly basis. I am happy to be patient β¦ for now.. but would hope some of the unlisted investments improve when the investment environment normalises. We shall seeβ¦..
Can't see this doing much this year or next
πππππππππππππππ
πππππππππππππππ
π€‘π€‘π€‘π€‘π€‘π€‘π€‘π€‘π€‘π€‘π€‘π€‘π€‘π€‘π€‘
I share everyones disappointment on this investment, INOV and wrote to them recently, here's their reply for you to digest.
We share your disappointment around the performance of the shares and the level of discount to net asset value. Unfortunately, the INOV share price has not been immune to the current negative market sentiment towards listed private equity trusts and we note that the majority of trusts in our peer group are also trading at elevated discount levels. The Manager and Board have undertaken a number of initiatives of late in an attempt to improve the attractiveness of INOV to current and potential investors. These include:
1. Changing the Company's mandate from UK to global;
2. Renaming and rebranding it;
3. Introducing a continuation vote at the 2025 AGM;
4. Committing to make an amount equating to 25% of all net cash realisations from the portfolio inherited from the previous portfolio manager received between now and the 2025 AGM available to be redeployed to make share repurchases by the Company; and
5. Undertaking concerted sales and marketing campaigns aimed at attracting both retail and professional investors.
https://mybrand.schroders.com/m/4d9ce8352fcac503/original/Schroder-UK-Private-Public-Trust-Plc-Annual-Report-Hi-Res.pdf
Have been dripping money into this on a regular basis and whilst I am still showing a loss I am starting to feel a bit more optimistic. Recent interview in MM with the fund managers coupled with an improving picture at the two biggest holdings ON and Atom is the basis for my optimism. Anybody else think the same? Or am I just deluded....Either way, I am going to continue regular investment here for now and see what happens....GLA
I see the clowns π€‘π€‘π€‘ at INOV can't even get a rise on a day when everything else seems to be rising.
Yes they still exist (past commentary), but not on this board which has been wiped clean.
I wouldn't get too excited about the 'global strategy' passa. Apart from the fact that this wasn't what investors signed up for in the 1st place (and Schroders wouldn't be my choice of stockpicker in the global space anyway), or that some think India is overvalued, the simple truth is that such investments won't move the dial, not for years. However they re-brand it, this trust remains dominated by the old Woodford picks circa 2015-19 and will remain so long into the future. Oxford Nanopore (23% of NAV) is a fantastic company, but whether it's valuation is aided by a London listing is another matter.
Still exists: https://v.gd/pbW1ow
If it got deleted then we'd all know for sure that something was up.
What is really happening is that they have changed to a global strategy
b/c the UK economy alone is insufficient for meaningful yield.
Investing in India was a good move, albeit a small one.
Only worth roughly +0.5p in sp movement as far as I can tell.
Haven't looked into the others lately.
I suggest people evaluate the underlying investments made where possible.
So, we have a new share chat board to go with our new name, conveniently wiping clean all the negative commentary associated with SUPP.
New investors imagining INOV has anything to do with innovation are advised to read the old SUPP (and possibly WPCT - there's been a history of name changing) share chat boards to remind themselves what a dog of an investment trust this has been.
I was considering impulse buying in tbh, but they beat me to it!
It's up in the air at the moment, so can't accurately evaluate.
Need more info before I commit now, so I will continue to read the news on this.
I was surprised to see that they still have "Industrial Heat" which was apparently
a major instigator of Woodford's demise, or so the analysts say...
Yep, this dog will remain a dog, simple as.
Get the hell out, is my advice. Not that it's personal.
SHORT TERM BONDS - UPTO 1YR, JUST IN CASE THEY DROP RATES!!