Does any hold Schiehallion fund in their ISA? I found it in T212 but it doesnāt seem very active, the numbers are grey and thereās no chart availableā¦ does anyone know whatās going on with it?
@Dougal1984 does, heāll give you the lowdown.
Iāve been tempted to add it too but I have exposure to many of the companies via other BG trusts, which are cheaper, tighter in terms of premium/discount and spread, and much more liquid.
Well it has on average say 15-20 trades a day, and trades around a 40% premium to its NAV
Then there is also MNTC, which IIRC is only 32% invested but trades at a 30% premium to NAV
So you have the choice of either, but remember the premium you are paying to get it.
https://www.theaic.co.uk/companydata/0P0001H5AC
Alternatively this award winning Schiehallion is trading at par:
Been trying to buy this for a few days now, no success. Will the order go through quicker if I buy fewer shares at a time?
No the liquidity is quite poor on this hence the premium to nav.
Does the low liquidity worries you, when you would want to sell your shares?
Specially during selloffs or troubled markets? (with a lot of sellers and few/no sellers)
Not in a long game no.
Look up the history. It was initially launched to high net worth investors only, with a long term mindset. It launched 2019 but only got added to 212 in June if memory serves right.
If youāre worried about liquidity, check out CHRY that launched a year earlier. Thereās some chatter on that one in the Jupiter thread.
Some or most ITs have some liquidity issues, I donāt know if that is because of them and/or the stock exchange segment they are in. Or even due to their market makers or their nonexistence.
Due to that I have some reluctance in investing in ITs, although I find some of them, interesting financial instruments.
Thats like saying it may or may not rain where you are tomorrow 
Nope, Dougal.
May or may not rain is a binary reality/probability, that mutually excludes each other. And it has only 2 possible outcomes. (Statistics)
And some or most of a āthingā that have some specific characteristics isnāt a binary outcome.
It could have various possible outcomes:
- āsomeā could be any number of observations
- āmostā is a majority, it could be a higher majority of number of observations (almost 100%, if it was āallā, it would be 100%) or a lower majority number of observations (50.xxxx%)
Back to ITsā liquidity, they have several liquidity degrees, some are more liquid than others, e.g. SMT vs. MNTN.
Having only one stock exchange and in GBP, that limit a quite the liquidity. Also knowledge and/or information about ITs outside UK is rather small.
Letās agree to disagree on this one.
Is MNTN slightly more de-risked now after recent price drops?
Iām trying to avoid China where I can, so not a fan of their 8.3% ByteDance position. But The Schiehallion Fund is too interesting in the grand scheme of things.
MNTN has certainly had a fair olā re-rating, down 60% in share price terms and swinging from a hefty premium to a 40% discount.
Iām increasingly tempted to add this. MNTC shares are due to covert over the next 12 months too.
The lack of liquidity is a concern though. There may be further short-term volatility to come, but now seems like a good time to open a long-term position.
Anyone else still waiting on their MNTC being converted to MNTN?
MNTC shows as sold for myself on September 13 but no sign of MNTN being added.
Edit: turns out I need to pay more attention. Thereās no entry in the instrument history but theyāve all been added.
Weāve reflected the corporate event and distributed the MNTN accordingly 
Iāll check your account and will send you a DM with more details.