Rights and Issues Investment Trust’s final results – The portfolio of Rights and Issues Investment Trust (RIII) fully participated in the strong equity market of 2017 with the net asset value of the Income shares rising by 18.5% to 2372.3p. By comparison, the UK smaller company market, in which the company is mostly invested performed well with FTSE Small Cap Index increasing by 14.9%.
The net assets of the company reached a new high of £198m. The cost of the buy-back programme prevented it from being higher.
The final income dividend proposed is 20.50p making 30.75p for the year. This is a 2.5% increase on the previous year.
The share buy-back programme utilised £11.8m during the year. A total of £13.9m worth of shares were repurchased in the first fourteen months of the share buy-back programme to January 2018. The programme is being extended for a further twelve months to February 2019.
More on Rights and Issues Investment Trust
Rights and Issues Investment Trust is a split capital fund that invests in equities with an emphasis on smaller companies. UK smaller companies will normally constitute at least 80% of the investment portfolio. UK smaller companies include both listed securities and those quoted on the Alternative Investment Market (“AIM”).
RIII : Rights and Issues Investment Trust’s final results