john
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johnstevens77 wrote:I have been thinking about these for a while. LSE:iii 3i Investors in Industry pays an increasing dividend and has done well capital wise. Any thoughts?
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kempiejon wrote:Not very high yield though are they at 3%ish I do hold them and have had them several years, Been a good performer for me 3 fold capital increase and a similar dividend increase too.
EthicsGradient wrote:It's incredibly volatile, over the long term. I happened to look at it this morning (because it comes first in an alphabetical list of ITs ... and then I noticed the 5 year performance). Although the NAV (which only seems to get updated once a quarter - too difficult to value private companies constantly, I suppose) shows regular, non-volatile growth, the share price and discount/premium staggers around drunkenly. It's certainly done well, overall, in the past decade or so; but if you look back at the record from the 1990s onwards, you can also find long stretches in which you'd have lost money on it, even over 15 years.
Jam2Day wrote:Interesting. I was looking at this the other day. It's had a good run, probably correlated with the AI frenzy.
mc2fool wrote:Jam2Day wrote:Interesting. I was looking at this the other day. It's had a good run, probably correlated with the AI frenzy.
Errr...which of its holdings do you think have been boosted 'cos of the "AI frenzy"?
According to 3i's 2023 Annual Report (pp 227-228), of the £17 billion valuation of their top 20 holdings (94% of their whole portfolio) a full £11 billion is Action, a European non-food "small prices, big smiles" discount retailer.
The next largest holding is 3i Infrastructure at a mere £841 million.
Yes, they've had a good run, indeed, a ten-bagger for those that got in at the right time, but anyone investing has to know that they're essentially (at least 60%) buying a European Wilko by the looks of it...
Jam2Day wrote:mc2fool wrote:Errr...which of its holdings do you think have been boosted 'cos of the "AI frenzy"?
According to 3i's 2023 Annual Report (pp 227-228), of the £17 billion valuation of their top 20 holdings (94% of their whole portfolio) a full £11 billion is Action, a European non-food "small prices, big smiles" discount retailer.
The next largest holding is 3i Infrastructure at a mere £841 million.
Yes, they've had a good run, indeed, a ten-bagger for those that got in at the right time, but anyone investing has to know that they're essentially (at least 60%) buying a European Wilko by the looks of it...
Thanks for the links. Action looks like an Aldi 'Me Too'. Got nothing against venture capitalists per se but their formula is fairly standard practice. Develop/support a business (so far so good) and then list it (sell it) on the main market stuffed with debt. The AA was a classic blueprint that ended up being delisted again on a rinse and repeat routine, not helped by inept management.
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