Rights &iss. Share Price (RIII)

The co tends to buy when dicount rises above10 %. I know one holder- an executor - sold a large holding direct to the company through their broker Shore capital.
Before crashMost smaleer Inv Tsts had been bought up as a good way of getting into the desitreable Small Co sector SO Dicounts on several trus narrowed to nil nd RIII even went to smal premium

At the AGM the co said it tended to buy when discount was over 10 % as I understood it. Still one of the best Investment trust performances even against those such as Scottish Mortgage and outstnding way to hold mostly smaller companies andmany with good export record too. a retired Chartered accountant

slept on it and decided reduction of premium from -20% to -12% is probably about it for an IT specialising in smaller cos. Fun is pretty much over so I'm out.

This is most interesting. As long as the co keeps buying and narrowing the discount, its a gravy train. Of course, the bubble bursts if the market slides or one of its top invs throws a wobbly! Now the cap stock has gone, it is a simpler vehicle. Not much hope of getting in on the cheap though when a bad day brings the co back to buy more! And we don't know when the co decides that the discount is about right and they stop buying.

Probably the best smaller companies Investment trust with an excellent track record. Share price up some 50 % in 12 months to 21 Jan17 compared with about 22 % increase of FTSE All Share index. Super long term performance and good opportunity as over 12 % discount to NAV which continues to Narrow from over 20 % a year ago. Currently estimated at £20.26 NAV -mid price £17.70P Harry Verney Chartered Accountant 22 Jan 17