Advantages High Net Asset Value
Disadvantages Trusts True Value not known, High Risk Investment
What are the latest results – half year ended 30th June 2002.
I am fond of investments and like a gamble on the stock market. Having read an opinion on this trust I just could not resist giving one of my opinion. Please note that I do not intend to give any advice and you should not buy or sell based upon my opinion.
Revenue streams have remained steady compared to last year, although there has been a decrease in interest received as a result of generally falling rates and lower cash balances. Rental income from properties also fell slightly as a result of vacant units while they are being refurbished. The shortfalls in gross revenues were largely offset by lower operating costs.All major stock exchanges performed adversely throughout the period under review. The trust made a very poor investment in Transense Technologies plc although they still believe that the longer-term prospects for this investment remain attractive, well they would say that wouldn’t they. Conversely Image Scan Holdings plc performed well as this was introduced to the AIM market in April 2002 and showed a substantial increase on the trusts original investment.
The Trust is lead by Alfred Patrick Stirling who states that they continue to seek out innovative early stage investments in companies, which appear to have real growth prospects in the longer term. This usually means that they don’t expect anything to happen in the short term.Do the Directors own shares?
Who owns the Trust?
Newinnhall Trust Ltd own 38.92% of all the trusts shares. Interesting the Directors of Newinnhall list one Alfred Patrick Stirling and the parent is Rowe Trust. Yet another interesting fact is that 2 non-executive directors are named Rowe. Is this a trust within another trust or what, is this actually a private company run trust. This incestuous behavior leaves the rest of us investing public in the minority and we have little control over what they can or cannot do.
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