Summary
WHEN Alliance Trust chief executive Katherine Garrett-Cox unveils annual results from Britain's biggest investment trust today, at least one major investor is no longer being lured by her charms.
Edinburgh-based Personal Assets Trust (Pat) has dumped its chunky GBP 14 million investment in Alliance after failing to persuade the Dundee-based giant to take action over its persistent discount to net assets. It is the third big investor to sell out or reduce its holding in the past year.See the full content of this document
Extract
Comment: Discount Dilemma for Katherine the Great
Investment trust discounts - the gap between the share price and the underlying value of the trust portfolio - have been one of the most problematic features of this asset class.
Shares in Alliance curr...See the full content of this document
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