Disclosure – Non-substantive Research
This is not substantive investment research or a research recommendation, as it does not constitute substantive research or analysis. With this commentary, Kepler Partners LLP does not intend to influence your investment firm's behaviour.
In our 13 February article 'Sweet Treats', we launched our portfolio of discount opportunities - trusts we felt had the potential to see their discounts close significantly and, in turn, supercharge investors' returns. Our portfolio has had a good beginning to its life, with the majority seeing their discounts close slightly in the almost three months since, aided by a wider rally in the market.
Here, we assess the performance of our discount portfolio so far, consider the outlook for our discount opportunities going forward and identify a new opportunity for the list.
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