Investment Trust Update | 21st April 2023

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  • 02 mins 38 secs

Learning: Unstructured

In this investment trust update, Merchants Trust announce a strong performance against a challenging backdrop, the former Woodford Investment Trust proposes a continuation vote in 2025 and Investment Trusts have sunk to their widest sustained discounts since the Global Financial Crisis.
Channel: Investment Trust Hub
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Speaker 0:
Hello, I'm Rory Palmer and welcome to this investment Trust. Update on Asset TV Making the headlines in the investment company Space Merchants Trust announced a strong performance against a challenging backdrop, and the former Woodford Investment Trust proposes a continuation vote in 2025.

Speaker 0:
First up, though, investment trusts have sunk to their widest sustained discount since the depths of the global financial crisis, with the average discount in the wider sector one from 13 to 16%.

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Despite starting the year on a positive note, the sector ended the first quarter down 1% as markets reacted to the collapse of S V B and the sale of Credit Suisse to UBS. The biggest D ratings, though, were in trust focused on the financials along with property and infrastructure, as risks from the banking fallout were reassessed.

Speaker 0:
In contrast, though, the FTSE all share ended the quarter 3% higher Despite concerns around those same banks,

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The Board of Schroder UK Public Private Trust, formerly known as Woodford Patient Capital, has proposed scheduling a continuation vote to take place in two years time now at next month's A GM shareholders are being asked to approve a change to the company's articles to introduce a vote in 2025 then at five year intervals from then on.

Speaker 0:
Now, in the case of Shredder UK public private, the vote will give shareholders the opportunities to review the performance of the fund managers over five years on from the collapse of Woodford Investment Management

Speaker 0:
and finally, Merchants Trust revealed strong performance against quite a challenging market backdrop during the year to the 31st of January, growing its share price by 7.9% over the 12 months it's managed by Allianz Global Investors Simon Gugel and the Trust placed second in its A IC UK income peer group. Over that same period,

Speaker 0:
NATO to return for the period was 7.9% ahead of the benchmark YOUR share index return of 5.2% while shares were up around 3%. The solid performance has seen shares trade at a premium of around 1 to 2% over the last six months. A member of the A IC Dividend Heroes List merchants also increased its dividend for the 41st consecutive year.

Speaker 0:
Well, thanks for watching this update. I'll see you here on asset TV next time

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