marktime1231
19 May 2017
Selling now at a discount - eh? The discount has widened again since going ex-div to about 6%; NAV is around 253p but AGIT is trading at 238p. Maybe people are cashing in rather than waiting 6 weeks, but selling at such a discount seems really daft to me.
percentagegain
10 May 2017
Re: Wow ... the AGIT which keeps in giving Roger that.This has been a good investment, returning both investment growth and a large and rising payout.Rather sorry too see it go - and like you Marktime I plan to sell and repurchase rather than automatically rollover into the new vehicle.
marktime1231
10 May 2017
Wow ... the AGIT which keeps in giving Since announcing it would be closing down at the end of June 2017 AGIT has delivered stellar performance, and not just from the narrowing discount which was around 10-15% and is still around 5%. The sp can't catch up fast enough to a soaring NAV.It has been boosted by the real performance of excellent underlying investments. For example its top holding Vesuvius jumped 9% today on a positive trading update. My return is already over 40% since Aug 2016 and could reach 50% at exit; protected by rising stop-loss orders of course.After languishing for so long it now seems a shame it is winding up. Aberforth has offered a replacement, the Split Level Income Trust (now there was a punk rock band, and a holiday desitination, for you children of the 70's out there) but which presumably would revert to a 10-15% discount on the same holdings. Can anyone tell me if transferring from GIT to SLIT would involve crystalising the capital gain - in which case why not just cash up and wait and see how the new trust shapes up?The extra payout of 8p which goes ex-div tomorrow - probably without denting the sp much or for long - helps reduce the capital gain burden. I wish it could have been even higher but I don't think there will be enough cash left for any chance of another special before winding up.So my plan A is to cash in on winding up, and wait to re-invest.
holland44
03 May 2017
Wind-up and final dividend AGIT has announced its draft plans for winding-up the company on 30 June: see News section on 27 April. A new split-capital income-focused investment trust known as Aberforth Split Level Income Trust (ASLIT) will be launched on 3 July; current AGIT shareholders will have preferred rights to transfer all or part of their investment into ASLIT, or they can take cash. The cash will be raised via a placing and offer for subscription in ASLIT, rather than selling the holdings in AGIT, which will be rolled over into ASLIT.The wind-up dividend is 8 pence per share, ex-dividend on 11 May and paid on 31 May.
holland44
31 Jan 2017
6 month interim report The most recent interim report by the Board to 31 December 2016 is available at [link] regards dividends and winding-up, the Chairman comments: - an interim dividend of 3.0p is declared in respect of the six months to 31 December 2016, to be paid on 24 February 2017. The ex dividend date is 9 February 2017. - there will be a second interim dividend for the year to 30 June 2017, to go ex dividend in June 2017, for not less than 7.0p per Ordinary Share. - the Board intends to seek approval from shareholder for winding-up the company around 30 June 2017. Ordinary shareholders will be given the option of receiving cash as close to NAV as possible, or shares in a possible new investment trust, again focusing on income but with a lower level of gearing.Assuming no other changes, dividends will return at least 10p per share over the next five months (4.7% at the current sale price of 212p), and the closure of the discount will return another 6.3%.
holland44
10 Aug 2016
Re: Stuttering ... and not getting anywhere.... Which trusts are you looking at for comparison, and are comparing like with like? On Trustnet's figures in the IT UK Smaller Companies category, AGIT is doing better than other well-thought-of trusts like HSL and BRSC in terms of growth, and there are no smaller company trusts doing better whilst also having a higher yield. AGIT has the the highest yield of any smaller co trust.It's been a grim year for all small company specialists . . .
sage in the hills
10 Aug 2016
Incredible , a whole year of down trend Amazing, after the previous years of outperformance ... ..... anyone any ideas ?SAGE
sage in the hills
04 Aug 2016
Stuttering ... and not getting anywhere.... Hi,This trust should be consistently producing more growth as well as more income , as,other trusts that are NOT highly geared are producing more GROWTH as WELL asMORE income. Clearly they are not getting it right here over the last couple of years ....SAGE
holland44
11 Feb 2016
Re: Why is the 7% drop? No idea! The shares go ex-div today, but the dividend is only 2.7p so this can't explain a 5.5% drop at the time of writing. But the shares have been hammered all week: they're 40% geared by the zero shares, so perhaps people are taking a dim view of the income shares' prospects before the trust is due to wound up in 2017.
Kapulski
11 Feb 2016
Re: Why is the 7% drop? I assume it's because this is a split capital trust. The Zero Dividend Preference shareholders are guaranteed a pre-determined final capital entitlement of 159.7p per share on the planned winding up date of 30 June 2017, so fluctuations in the market have an exaggerated effect on the Ordinary shares.
cimbom
11 Feb 2016
Why is the 7% drop? Why is the market beating drop today? Any views?
