Trust discounts hit nine-month low

nvestment trust share price discounts to net asset value (NAV) have narrowed to their lowest level in almost nine months. The average weighted discount in the investment trust sector, excluding venture capital giant 3i plc, has been pared back to its tightest level since the end of August 2002, according to HSBC analyst Paul Locke. Locke said improving sentiment on equities has driven the sector upturn, led by a marked narrowing of discounts among many of the International Generalist funds, where the weighted average discount fell to 9.8% last week, down by four percentage points sin...