AIB Govett is removing initial fees for investments made into its Govett Investment Trust Savings Sc...
AIB Govett is removing initial fees for investments made into its Govett Investment Trust Savings Scheme (ITSS) and Isa until the end of the year. The move is designed to the complement the group's investment trust marketing campaign in association with the AITC's 'its' campaign
The Govett ITSS and Isa enable investors to buy shares from £25 per month or a £250 lump sum in AIB Govett's range of investment trusts. The normal initial charge of 1% is being dropped for all investments made in November and December for seven trusts government stamp duty of 0.5% will still be payable. During the offer period exit and switching charges of 1.2% and 1.5% respectively will remain the same
One of the trusts available to investors is the £68.8m Govett Asian Recovery Trust. Last week the trust was recommended as a buy by Credit Lyonnais. Peter Walls, investment trust analyst at Credit Lyonnais, said: "We believe its strong relative performance over the last year merit it a much narrower discount than 21%. We view the discount as an anomaly since both Foreign & Colonial Pacific and Martin Currie Pacific trade on narrower discounts. However, the Govett trust possesses a superior track record over one year
Both the Foreign & Colonial and Martin Currie trusts are trading on a discount to NAV of 16% while NAV growth is around 50% over one year. Whereas the NAV of the Govett Asian Recovery Trust has grown by 71%. The other six trusts, not carrying an initial charge, available to investors are, Govett Asian Smaller Companies, Govett Emerging Markets, Govett Enhanced Income, Govett European Enhanced and Govett Strategic
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