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this is at discount of c 2.50 pc which is good to add to before the merger is completed so why are the trades a sea of red?
I can't see any information on SCIN dividend reserve?
Anyone know if they are taking it with them?. Perpetual income and growth received all the dividend reserve before the merger...10 months worth.
According to AIC SCIN has 2.71 years reserve.
Probably better to look at the SCIN RNS:
https://www.lse.co.uk/rns/SCIN/result-of-review-c1hh7z2u892u428.html
The current discount, even at sp of 800, look to good to be true compared with the JGGI premium.
https://www.investmentweek.co.uk/news/4038923/scottish-investment-trust-proposes-merger-jpmorgan-trust
Scin trades at a 10%discount, JPM fund at a premium.... Nice uplift underway.
Nice pickup since the end of Feb, share increase despite going xd and being a contrarian fund. Not stellar but divi has maintained throughout and there are buybacks. I think there is a bit to go on the share price rise, especially if the fund get a bit of traction from new investors. Some good buys today.
Transaction in Own Shares Fri, 21st Dec 2012 16:49 RNS Number : 2083U Scottish Investment Trust PLC 21 December 2012 On 21 December 2012 the company purchased in the market for cancellation 15,000 shares of 25p at a price of 491.0p each. Upon cancellation the issued share capital will be 111,200,926 shares of 25p. The above figure (111,200,926) is the total number of voting rights in the company and may be used by shareholders as the denominator for the calculations of their interest in the Company under the FSA's Disclosure and Transparency Rules.
Bad debts in the Eurozone are a "ticking time bomb" for the continent's economy, with the worst effects expected to be felt next year, a report has warned. Banks' balance sheets will contract by a record margin in 2012, further constraining the supply of credit to businesses and consumers, according to Ernst & Young, but the "real impact" of Europe's debt crisis will not arrive until 2013. The accountancy firm said banks will shrink their balance sheets by €1.6tn (£1.3tn) this year as the result of asset disposals and a contraction in their lending activity - a sharper decline than during the financial ¬crisis. As a result, it predicted that corporate lending will contract by 4.8% in 2012, while consumer loans will fall by 6.6%, which would represent the fastest pace of lending contraction on record for the Eurozone. However, next year looks even more "bleak" as the fallout from bad debts is felt across Europe, Ernst & Young's Eurozone Financial Services Forecast said.
Good set of results published today,i bought a few of these for my sons portfollio a few years back,so im very glad its doing well in these uncertain times.........
"However, the board and the manager continue to believe that in the present difficult market environment the current defensive investment approach provides resilience whilst still providing the opportunity for creating growth in shareholder value over the long term."
In regards to the outlook, Pettigrew admitted that "there appears to be no realistic end in sight to the ongoing difficult economic and market environment." He said that "relatively concentrated nature of the portfolio may from time to time result in material short-term performance deviations from the benchmark
Looking at its portfolio, the company is weighted heavily in the defensive sectors - assets investors often pour into when markets are volatile - and that strategy seemed to work during the year with its share price jumping 17.6%, compared with the FTSE All-Share Index which rose by only 1.4%. The group has a great deal of exposure to pharmaceuticals, tobacco and telecoms stocks. "Economic and market conditions have remained challenging throughout the past 12 months. However, against this backdrop, the company's defensively positioned investment portfolio delivered substantial out-performance against the broader market for the year ended March 31st 2012," said Chairman Jim Pettigrew.
Edinburgh Investment Trust, the FTSE 250 group focused on UK securities, put in a resilient performance in the year to March 31st, growing net asset value (NAV) by a tenth in spite of the volatile market conditions during the period. NAV per share at market value increased by 10.2% over the period, from 434.02p to 478.3p. Revenue return per share excluding VAT recovered on management fees and interest increased by 6.3% from 20.8p to 22.1p. The final dividend was raised by 5.8% from 20.8p to 22p.