Overview
Rights and Issues Investment Trust aims to exceed the FTSE All Share total return over the long term while managing risk. It invests in equities with an emphasis on small and mid companies. UK smaller companies include both listed securities and those admitted to trading on the Alternative Investment Market (AIM).
Rights and Issues Investment Trust was, until June 2016, a split capital investment trust with two classes of share – income (RIII) and capital (RIIC). On 6 June 2016, the capital shares were amalgamated with the income shares.
You can access the manager’s website here
We have written some notes that explains what the trust is trying to achieve in some detail
Lights and tunnels – was published 21 August 2024
Old dog, new tricks – was published 19 December 2023
Under new management, same high conviction approach – was published on 18 April 2023
Fundamentals
Price
Research History
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21 Aug 2024 17 min read
Rights and Issues Investment Trust – Lights and tunnels
Lights and tunnels After a challenging year in 2023, the outlook for the Rights and Issues Investment Trust (RIII) appears much brighter now, as economic conditions improve, and the portfolio takes shape under the management of Jupiter’s UK Small and Midcap (SMID) investment team. This positivity is reflected in the recent performance of the trust, […]
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16 min read
Rights and Issues Investment Trust – Lights and tunnels
Lights and tunnels After a challenging year in 2023, the outlook for the Rights and Issues Investment Trust (RIII) appears much brighter now, as economic conditions improve, and the portfolio takes shape under the management of Jupiter’s UK Small and Midcap investment team. This positivity is reflected in the recent performance of the trust, which […]
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15 min read
Rights and Issues Investment Trust – Lights and tunnels
Lights and tunnels After a challenging year in 2023, the mangers feel that the outlook for the Rights and Issues Investment Trust (RIII) appears much brighter now, as economic conditions improve, and the portfolio takes shape under Jupiter’s UK Small and Midcap investment team. It suggests that this positivity is reflected in the recent performance […]
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09 Aug 2024 1 min read
Interview with Matt Cable from Rights and Issues
In this week’s show, James Carthew spoke to Matt Cable from Rights and Issues. If you were looking for the first part of QuotedData’s show, focused on the roundup of the week’s news click here. If there is a guest speaker you’d particularly like to hear from, please email Aiman. Additionally, if you would prefer […]
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19 Dec 2023 16 min read
Rights and Issues Investment Trust – Old dog, new tricks
Rights and Issues Investment Trust Investment companies | Update | 19 December 2023 Old dog, new tricks We are now more than 12 months into Jupiter Asset Management’s tenure managing the Rights and Issues investment trust (RIII), following the retirement of Simon Knott, who was at the helm for 39 years. New managers Dan Nickols […]
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17 min read
Rights and Issues Investment Trust – Old dog, new tricks
Rights and Issues Investment Trust Investment companies | Update | 19 December 2023 Old dog, new tricks We are now more than 12 months into Jupiter Asset Management’s tenure managing the Rights and Issues investment trust (RIII), following the retirement of Simon Knott, who was at the helm for 39 years. New managers Dan Nickols […]
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17 min read
Rights and Issues Investment Trust – Old dog, new tricks
Rights and Issues Investment Trust Investment companies | Update | 19 December 2023 Old dog, new tricks We are now more than 12 months into Jupiter Asset Management’s tenure managing the Rights and Issues Investment Trust (RIII), following the retirement of Simon Knott, who was at the helm for 39 years. New managers Dan […]
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14 Sep 2023 41 min read
QuotedData’s Economic and Political Monthly Roundup September 2023
Economic and Political Monthly Roundup Investment companies | Monthly | September 2023 August was a moderately volatile month for markets as the economic picture in China worsened. Developed markets held up better than emerging markets. Yields on US government debt rose. Oil prices edged up, but the big jump was in natural gas prices as […]
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18 Apr 2023 23 min read
Rights and Issues Investment Trust – Under new management, same high conviction approach
Rights and Issues Investment Trust Investment companies | Initiation | 18 April 2023 Under new management, same high conviction approach Following the retirement of Simon Knott, who managed Rights and Issues (RIII) for 39 years, RIII’s portfolio is now the responsibility of Dan Nickols and Matt Cable, part of the UK small and mid-cap team […]
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23 min read
Rights and Issues Investment Trust – Under new management, same high conviction approach
Rights and Issues Investment Trust Investment companies | Initiation | 18 April 2023 Under new management, same high conviction approach Following the retirement of Simon Knott, who managed Rights and Issues (RIII) for 39 years, RIII’s portfolio is now the responsibility of Dan Nickols and Matt Cable, part of the UK small and mid-cap team […]
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23 min read
Rights and Issues Investment Trust – Under new management, same high conviction approach
Rights and Issues Investment Trust Investment companies | Initiation | 18 April 2023 Under new management, same high conviction approach Following the retirement of Simon Knott, who managed Rights and Issues (RIII) for 39 years, RIII’s portfolio is now the responsibility of Dan Nickols and Matt Cable, part of the UK small and mid-cap team […]
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17 Apr 2020 8 min read
QuotedData’s Investment Companies Quarterly Review – First Quarter 2020
Investment Companies Quarterly Roundup Kindly sponsored by Baillie Gifford and Aberdeen Standard Investments Table of contents In this issue Performance data Positive movers Negative movers Discounts and premiums Getting more expensive Getting cheaper Money in and out Money in Money out Major news stories Upcoming Events New research The legal bit Unprecedented times We have knitted […]
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07 Aug 2019 3 min read
QuotedData’s investment companies roundup – August 2019
Investment Companies Roundup New research Over July, we published notes on CQS New City High Yield, BlackRock Throgmorton, Strategic Equity Capital, Seneca Global Income & Growth, CG Asset Management, Standard Life Investments Property Income and Aberdeen New Dawn. You can read all these notes by clicking on the links above or by visiting www.quoteddata.com. In this issue Performance data – appetite […]
News
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13 Dec 2024 5 min read
From outflows to inflows: Has the UK equity market finally turned a corner?
It is a well-documented fact that international investors have been shunning the UK equity market in recent years, leaving it cheap versus other regions. The reasons why have already been well-rehearsed, so I will not dwell on them here, but selected highlights would include the Brexit referendum in 2016 and the economic uncertainty that created; […]
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01 Nov 2024 3 min read
Jury is out on Reeves’s bumper tax-grab budget
QD view: The budget has been dominating headlines this week. We set the scene and covered the big changes in the budget earlier in the week. The question is, what effect will this have on the UK economy and the trusts that are exposed to it? National Insurance hit to big employers This week’s interview […]
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06 Aug 2024 2 min read
Rights and Issues fast out of the gates in 2024
Rights and Issues (RIII) announced its interim results for the six month ended 30 June 2024. The company delivered a strong first half with NAV up 13.2% and total shareholder returns reaching 15.8%, outperforming the index which gained 7.4% on a total return basis. The company’s discount narrowed to 8.2% at the end of the period. During the […]
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10 May 2024 1 min read
Matt Cable to take the helm as Rights and Issues’ Dan Nickols retires
Dan Nickols, head of Jupiter’s UK Small and Mid-Cap (SMID) equities team and current co-manager of Rights and Issues Investment Trust (RIII), is retiring at the end of June this year. Following Dan’s retirement, Matt Cable, currently Dan’s co-manager on the trust, will become its lead manager, thereby “ensuring continuity of the investment services provided […]
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28 Mar 2024 2 min read
QuotedData’s morning briefing 28 March 2024 – IVPB, IVPG, IVPM, IVPU, RIII, TENT, DGI9, HOME, BHMG, BHMU, ESO, SMIF, SONG
In QuotedData’s morning briefing 28 March 2024: Not enough shareholders of Invesco Select Trust (IVPB / IVPG / IVPM / IVPU) voted on the plan to merge the four asset classes into just the global equity income class. The percentage voting requirement to get the deal approved has been relaxed and the timetable pushed back. […]
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21 Feb 2024 2 min read
Rights and Issues Trust delivers strong returns for its shareholders
Rights & Issues Investment Trust (RIII) released its annual results for the 12 month period ending 31 December 2023. Over the year RIII generated a NAV total return of 2.4%, compared to the 3.8% of its benchmark, the FTSE All-Share Index. However, thanks to a material reduction in RIII’s discount, it generated a much higher […]
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02 Aug 2023 2 min read
RIII is off to a strong start under Jupiter’s management
Rights and Issues Investment Trust (RIII) has released its half year results for the six month period ending 30 June. This is the first set of results to cover RIII’s performance under the management of Jupiter Asset Management. Over the six months RIII generated a NAV total return of 3.5% and share price total return […]
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30 Aug 2022 1 min read
QuotedData’s morning briefing 30 August 2022
In QuotedData’s morning briefing 30 August 2022: Digital 9 Infrastructure’s shares commence trading on the premium segment of the London Stock Exchange with effect from 8 am this morning. Octopus Renewables Infrastructure (ORIT) has announced that its investment manager will be presenting via the Investor Meet Company platform on Wednesday 7 September 2022 at 12pm […]
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10 Jun 2022 1 min read
QuotedData’s weekly news show 10th June 2022
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew and Andrew McHattie covered the week’s top stories: • BMO UK High Income • Rights and Issues This week’s interview was with Craig Martin of Vietnam Holding – watch it […]
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07 Jun 2022 2 min read
Jupiter lined up for Rights and Issues as manager retires
Simon Knott, the investment director of Rights and Issues Trust, intends to retire as the investment manager with effect from 1st September 2022. However, he will remain a non-executive director of the company. With the help of external consultants, the board carried out a review of potential investment managers. It has decided appoint Jupiter Unit […]
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02 Aug 2019 2 min read
QuotedData’s other news 2 August 2019
In QuotedData’s other news 2 August 2019 Capital and Regional has provided a trading update for the first half of 2019, ahead of its half-year results, which will follow on 11 September. The company says that it is seeing continued evidence that its community strategy is working; strong leasing momentum with new lettings undertaken at […]
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26 Feb 2019 1 min read
Rights and Issues beats benchmark but NAV falls 10.7%
Rights and Issues Investment Trust (RIII) has announced its annual results for the year ended 31 December 2018. During the year, the trust provided an NAV total return of -9.7% (The NAV fell from 2,372.3p per share to 2,118.1p per share, but paid a modestly higher dividend of 31.5p per share versus 30.75p per share […]
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27 Feb 2018 1 min read
Rights and Issues Investment Trust’s final results
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 […]
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28 Feb 2017 1 min read
Another good year of performance for Rights and Issues
Rights and Issues says 2016 proved to be a very strange year. the UK market rose by 12.5% and the small cap market by 11% but, once the fall in sterling following the June referendum result is factored in, a more sombre picture emerges. By contrast, the net asset value of the fund’s Income shares increased by 29.5% to 2002.2p. […]
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29 Apr 2016 4 min read
Rights and Issues wants lose its split capital structure
Rights and Issues Investment Trust has announced proposals for the conversion of Capital Shares to Income Shares and amendments to the Company’s articles of association. The company has issued a Circular to shareholders setting out the proposals which will be put to shareholders for approval in general meeting and at class meetings of the holders of […]
In The Press
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28 Oct 2024 1 min read
Fund manager changes: which ones are paying off?
by Jennifer Hill from interactive investor, 28th October 2024: There are many reasons why a fund might get a new manager, with the retirement of the incumbent manager and poor performance being chief among them. While some investment houses have navigated the task of replacing a veteran fund manager with aplomb, others have failed to […]
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22 Aug 2024 1 min read
QuotedData: ‘Much brighter outlook now’ for Right and Issues trust
Lauren Hardy, Portfolio Adviser, 22 August 2024: Investors in the Rights and Issues investment trust (RIII) “should be increasingly optimistic” about its future prospects, according to the research team at QuotedData, following a 33% total return over the last year and its “stable” continuity plans following Dan Nickols’ (pictured) retirement in July. RIII, which is […]
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15 Jul 2024 1 min read
Trusts set to prosper under Labour
By Emma Wallis, News editor, Trustnet, 12 July 2024: Chancellor Rachel Reeves has barely been in office a week but has already announced planning reforms to “get Britain building again”.. Labour promised in its manifesto to build 1.5 million new homes during the next five years and is establishing a housing task force to tackle […]
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15 May 2024 1 min read
Dan Nickols to retire: Will it be ‘business as usual’ for investors?
Lauren Hardy, Portfolio Adviser, 15 MAY 2024: The upcoming retirement of Jupiter’s head of small and mid-cap equities, Dan Nickols (pictured), should mean “business as usual” for investors in his Jupiter UK Smaller Companies fund and the Rights and Issues investment trust, according to professional fund buyers. However, others warn against buying into the funds […]
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27 Sep 2023 1 min read
Small investments trusts: which to back, and which to avoid
by Cherry Reynard from interactive investor, 27th September 2023: Small is becoming less beautiful in the investment trust world. Problems of wider discounts, poor liquidity and even – in some cases – weaker performance, have started to worry investors. Another headwind is that wealth managers often won’t touch investment trusts with less than £250 million […]
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23 Sep 2022 2 min read
What should I do when my fund manager departs?
James Crux, Shares Magazine, 22 September 2022: On 5 September, asset manager Abrdn (ABDN) announced that veteran and very successful fund manager Harry Nimmo will retire… When a fund manager who has forged a particularly strong track record exits stage left, it is tempting to immediately sell your fund units or investment trust shares. However, […]
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22 Nov 2021 1 min read
The UK trusts on the biggest discount or premiums relative to their history
By Eve Maddock-Jones, Reporter, Trustnet, 19 November 2021 Trustnet looks at which UK investment trusts are trading below their five year average discount/premium level and which ones are running well ahead of the norm. Several UK investment trusts are running well below their five-year-average discount presenting major buying opportunities, according to fund pickers. The pandemic […]
