Renn Universal Growth Investment Trust (LON:RUG) - Anchor’s up
Sep 13th 2012 - Edison Investment Research today published a report on Renn Universal Growth Investment Trust (RUG.L, LSE:RUG, LON:RUG) entitled "Anchor’s Up". In summary, the report says:
RENN Universal Growth Investment Trust (RUG) invests in micro-cap stocks. It currently has a focused 21-stock portfolio that has substantial allocations to US quoted companies (35%), one unquoted US Company, Anchor Free, (32%) and cash (17%). 2011 was a difficult year for the trust, but 2012 has seen developments at portfolio companies, which have driven substantial improvements to NAV and price. The most significant has been an investment by Goldman Sachs in portfolio company Anchor Free. RUG tendered 850k shares (16% of its holding) and received $5.3m (covering its total initial investment of $2.5m back in full, with a return of 110%). RUG still retains 84% of its initial holding, which is valued at $6.19 per share or $27.6m. The...
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