Richygm
06 May 2018
Bought in. A small stake, having been in and out a couple of times over the years. Should have just held, of course, but, feeling a correction was due several years ago, moved into more defensive positions, which RCP has easily outperformed. Recent performance is disappointing, I feel, and the premium is a concern. Serious outperformance is probably as thing of the past, given the present size of the trust, but this will probably not be of concern to Lord Rothschild given the £30 million management fee which probably covers his expenses. Personally, I could comfortably live on that alone.
jiayanlim
20 Jan 2018
Re: Protection Hello ... For myself , this stock is a " Never Sell " just my opinion of course as a very defensive holder .
marktime1231
23 Dec 2017
Re: Protection Well I have now watched the various suggestions for 'safe havens' for most of the year, and on balance I am unmoved. A real market slump has not happened of course and may not be around the corner ... although some of what I thought were my defensive stocks are well off their highs for various reasons.The best of the bunch does indeed seem to be RCP, but returns in a mildly bullish market have been weak compared to my diverse portfolio. RCP might not show its true worth until the downturn comes, but it feels the more productive option is to remain largely invested in defensive high yielders. With profits taken periodically and so with cash in hand in order to pick up any bargains ... always the optimist looking for recovery value, and hopeful of picking more winners than losers.I have even been trading in and out of gold miners on stock volatility, and sold a bunch of bonds thinking I could do better elsewhere. To de-risk a bit next year I will reduce single stock positions.The option of shelling out to low risk income might lie ahead in the medium term ... low risk govt bond rates should improve, we may even see a return to 5+% annuities. In the meantime it would be a shame to be stuck in the slow lane.
infra-penny
19 Nov 2017
Re: Reducing holding The NAV for 31.10,published on 14.11 was 1813p, actually 4 higher than a month earlier, and that’s AFTER paying the 16p dividend as well. So with the SP at 1943p, and the NAV at 1813p, it is now trading at a premium of 7.2% to NAV.
cimbom
09 Nov 2017
Re: Reducing holding Premium is calculated against the NAV at 30th September. Hence next time NAV is announced premium will correct itself down, by how much is the question!
ChrisJSlip
09 Nov 2017
Re: Question Still one of the best long term investments available in my opinion. Gives access to certain specialist funds which smaller private investors wouldn't normally be able to get.I'm holding. And will buy on dips.
pike fisherman
09 Nov 2017
Re: Question Since the sp is going nowhere I prefer to wait for a drop and then rebuy.
jonwig1
09 Nov 2017
Re: Question You have it right. Defensive and long-term reputation.
Hangover2
08 Nov 2017
Question Is it because some consider the market overvalued that ironically they trade at a premium? Could the argument be that RIT have historically positioned themselves to make money in falling markets and so if you believe they are so positioned now (holding back current performance) but on a fall they will do better than others you give them a premium as the NAV will fall less than that of others. A genuine question but this is why I (perhaps mistakenly) stay put......
pike fisherman
08 Nov 2017
Re: Reducing holding Agreed. The premium worries me. On a market drop the loss would probably be enhances. I’ve been with Rcp for over 20 years and it pains me to take profits. On a market fall would probably put half back in RCP and half SMT.
infra-penny
08 Nov 2017
Re: Reducing holding It is very frustrating that the NAV has not grown any faster.With all their expertise and know-how, and scale of assets, this really should be well over £20 now, and not be trading at a premium of 9% to NAV.
pike fisherman
08 Nov 2017
Reducing holding After many years I am reducing RCP and have recently halved my holding due to slow performance and high premium. Gone to cash.
dokp
22 Aug 2017
Re: half year report I haven't dug into the report but the surprise for me was the big reduction in dollar assets, assuming these are US assets it would seem his lordship doesn't have much faith in the Trump programme.
ChrisJSlip
21 Aug 2017
half year report interesting comments:[link]
II Editor
07 Jul 2017
NEW ARTICLE: Top 10 investment trusts - June 2017 "The most popular investment trust bought among investors on Interactive Investor continues to be LSE:SMT:Scottish Mortgage. James Anderson's technology-slanted global trust continues to enjoy huge popularity. Further, it won Best Global Growth ..."[link]
