A number of investment trusts holding UK micro-cap equities could be set for a re-rating, according to Miton's Nick Greenwood and Charlotte Cuthbertson.
The pair, who run the Miton Global Opportunities trust of investment trusts, told Investment Week they had recently bought a quartet of UK micro-cap trusts trading on double-digit discounts in anticipation of the out-of-favour asset class finally getting some relief. UK equities Until recently, the £77m trust, which aims to exploit inefficiencies in the investment trust sector by buying companies in more esoteric asset classes trading on wider-than-warranted discounts, has been very light UK stocks, said Greenwood. "The pound falling and the UK underperforming has been useful and we...
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