Rights and Issues Investment Trust – Under new management, same high conviction approach

Following the retirement of Simon Knott, who managed Rights and Issues (RIII) for 39 years, RIII’s portfolio is now the responsibility of Dan Nickols and Matt Cable, part of the UK small and mid-cap team at Jupiter Asset Management.

The Jupiter team aims to ensure that RIII continues to offer access to a focused portfolio of handpicked UK small and mid-cap companies, though the team expects that RIII will be bolstered by a significant increase in the investment management resource dedicated to the portfolio.

RIII is designed to give investors access to the UK small-cap market, which the team believes is a dynamic one. Dan’s open-ended strategy has generated twice the returns of its benchmark since the start of his tenure in 2004. RIII gives the Jupiter team the opportunity to augment this with the opportunities provided by a closed ended structure, notably the greater ability to hold high-conviction weightings in a more concentrated portfolio.