Rights and Issues Investment Trust - Update from QuotedData
6th February 2025
Normal programming to resume
The first nine months of 2024 provided signs of a return to normality in the UK. With inflation falling steeply, the Bank of England was able to begin its interest rate-cutting cycle, while a steady pickup in growth provided a sense of optimism that had long been absent from the market. The Rights and Issues Investment Trust (RIII) responded in kind, delivering a shareholder total return of 17% to 30 September 2024. Unfortunately, this momentum slowed over the latter part of the year as investors fled UK small caps, particularly AIM (Alternative Investment Market) stocks, in advance of the budget, and yields climbed on both UK government bonds (gilts) and US treasuries, back towards cycle highs.
Although frustrating for investors, we believe the conditions that drove the first half recovery remain in place, and the recent weakness should not detract from the generally positive outlook for the UK, and RIII in particular. Market activity has finally begun to pick up as investors capitalise on historically cheap valuations and we believe that for active, high-conviction managers like RIII's, the opportunity to outperform in the coming years has arguably never been better.
Full Research:
https://quoteddata.com/research/rights-and-issues-investment-trust-normal-programming-to-resume-qd/
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NB: Marten & Co was paid to produce this note Rights and Issues Investment Trust Plc, and it is for information purposes only. It is not intended to encourage the reader to deal in the security or securities mentioned in this report. Please read the important information at the back of this note. QuotedData is a trading name of Marten & Co Limited which is authorised and regulated by the Financial Conduct Authority. Marten & Co is not permitted to provide investment advice to individual investors categorised as Retail Clients under the rules of the Financial Conduct Authority.
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