Investment trusts saw a narrowing of their discounts in October as the sector recovered from the summer sell-off, while fundraising remained strong for another month.
The latest report from Winterflood Investment Trusts revealed average discounts in October narrowed to 5.1%, compared to 5.6% in September and the same figure at the end of last year. These figures exclude private equity, hedge funds and direct property funds. The average investment trust discount so far this year is 5.8%. Including hedge funds, private equity and property, the average discount narrowed to 2% at the end of last month. Winterflood said: "Discounts have held up reasonably well so far in 2015 despite an increase in market volatility...
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