The popularity of any investment trust, and hence the discount or premium to net asset value (NAV) at which its shares trade, ought in theory to reflect its historic performance and its prospects for the future. Investors, however, are far from rational. A trust that has grown its NAV by 251% in ten years, doubling it in five, compared with the FTSE trade at a discount of over 40%.
The strong appeal of private equity
Jun 21, 2024
2 minutes
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