Woodford's Edinburgh trust slides on to a discount as sell-off continues

clock

The Edinburgh investment trust has tumbled a further 5% this morning as investors continue to sell out, moving on to a discount following Neil Woodford's surprise move.

The trust fell as much as 5% to 545.5p this morning, before recovering marginally to trade down 3.2% at 554p, following a 5% fall yesterday afternoon. Winterfloods said the trust had moved from an average premium of 1.7% over the last 12 months to close at a discount of 0.6% last night. This morning, as selling continued, it widened out to a 4% discount to NAV. The trust has been hit by a combination of investors exiting and falls across some of its key holdings, including Capita, which sold off after the announcement Woodford is exiting Invesco Perpetual next April to launch his o...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Investment

Partner Content: Join us today: Unlocking portfolio potential

Partner Content: Join us today: Unlocking portfolio potential

Join us for our Podcast Live! discussion with LGIM as we unpick new investment opportunities in the overlooked asset classes powering the energy transition.

Sarka Halas
clock 07 February 2024 • 1 min read
'The recession that did not happen': How investors should be positioned for 2024

'The recession that did not happen': How investors should be positioned for 2024

Wellington co-head of investment strategy

Natasha Brook-Walters
clock 06 February 2024 • 4 min read
Investment Company of the Year Awards Winners Interview - Allianz Technology Trust PLC

Investment Company of the Year Awards Winners Interview - Allianz Technology Trust PLC

clock 05 February 2024 • 3 min read
Trustpilot