Beacon now converting to Oeic fund

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Beacon Investment Trust, managed by Andrew Buchanan at Close Investments, is to convert into an Oeic...

Beacon Investment Trust, managed by Andrew Buchanan at Close Investments, is to convert into an Oeic. One of the reasons the board cited for the change was the wide discount to NAV the trust was on As at close of business last Thursday the discount 19.6%. According to the AITC the average discount in the UK smaller companies sector is 19%. The £37.5m trust's wide discount does not reflect its good performance compared to its peers. In the 10 months of the current calendar year Beacon's unaudited NAV per ordinary share has increased by 46.4 According to Micropal over three years the trust ...

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