Rights and Issues Investment Trust (ticker: RIII) was founded in 1962. It was managed for nearly four decades by Simon Knott before he retired from the role in 2022. Throughout Knott's tenure, the trust's NAV per share rose about 100 times and the annualised share price total return was 15.4%, making it one of the top-performing funds over that period. RIII's board selected Jupiter to run the trust when Knott retired with the team of Dan Nickols and Matt Cable appointed to look after the portfolio. Knott has remained as a non-executive director and he is still a significant shareholder. RIII i...
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Technical update The first big test of the bear market rally looks to have arrived. Despite the recent "golden cross" signal that I mentioned a little while ago, the chart of the S and P 500 index has retraced its steps all the way back down through the 200-day moving average and although it now looks a little oversold, we can only wait to see if it can find fresh support around that level. Don't bank on it, given this week's dramatic events.
The problems of Silicon Valley Bank, the Californian bank which has been taken over by regulators after failing to raise new equity to shore up its bala...
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