Electra discount evaporates as Bramson boosts stake to 16%

Activist investor Edward Bramson has added to his stake in Electra for the second time in a week, making a 10% profit in the process.

Bramson (pictured) first disclosed a 10.2% stake on Friday. He had upped the position to 13.7% by Tuesday and 16.4% this morning. The discount on the £1bn trust has moved from 11.2% on the day before Bramson's initial disclosure to 1.3% today, according to Winterflood, netting double-digit profits for shareholders. The trust's share price has risen 14% in the last month alone.  Bramson, head of the American activist firm Sherborne, is best known for an aggressive cost-cutting plan at asset manager F&C from 2011 to 2013. More recently, he turned his attention to private equity trust...