Edison issues review on Witan Investment Trust

RNS Number : 2850B

Witan Investment Trust PLC

06 October 2020

 

London, UK, 6 October 2020

Edison issues review on Witan Investment Trust (WTAN)

Witan Investment Trust (WTAN) has employed a multi-manager strategy since 2004. Investment director James Hart says the trust gives a balanced exposure to equities across regions and sectors. He suggests 'the type of companies identified by the managers should provide good long-term prospects for shareholders, especially in the current environment, plus there is currently a wide discount to asset value'. WTAN offers a range of strategies not generally available to the retail investor, with c 25% of the portfolio in specialist areas including emerging markets, climate change and biotechnology. Hart argues the trust 'brings something different' and is a more rounded approach to global equity market opportunities.

WTAN's current 7.9% share price discount to cum-income NAV is wider than the historical average discounts over the last one, three, five and 10 years (range of 3.1% to 5,5%), offering scope for a higher valuation. The board retains a long-term objective to create sustainable liquidity in the trust's shares at or close to NAV. WTAN has a progressive dividend policy (current 3.0% yield). 

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