JP Morgan’s Elliott: Lifting the lid on share buybacks
Record-high share buybacks have failed to stem widening discounts
Record-high share buybacks have failed to stem widening discounts
The trust will repay £115m in the first half of the year, but the remaining £188.8m may not fully mature until 2029 at the earliest
The trust will return some capital this year as it winds down, but shareholders may not see a full repayment until 2033 as private assets mature
Share price discounts remained above 10% throughout 2023, according to AIC’s year in review
Aberforth Smaller Companies, Aurora Investment Trust and Chelverton Growth Trust earn a place on the list
The trusts have seen a considerable bounce over the last three months
Rising interest rates, widening discounts and fixed income inflows have bruised assets
On a level playing field when it comes to equities and multi asset, what about real assets and bonds?
Analysts surprised as European equities star steps back from £7.7bn worth of funds
Stifel data highlights the investment trusts with discounts/premiums closest to their six-month highs
Closed-ended fund share registers increasingly dominated by retail investors
What a difference a couple of weeks can make in the investment trust world. At the start of February, the River & Mercantile UK Micro Cap trust was trading a 16.2% premium to net asset value (NAV), following a strong run of performance, but that was soon to change.