Trust analysts have 'little confidence' in Electra despite strong results

Say Electra faces 12 months of uncertainty

Despite strong results which saw total share price and NAV returns of around 35%, trust analysts remain critical of the £2.3bn Electra Private Equity trust as it continues to make moves which "make no sense" as part of its strategic review.

Electra Private Equity has had a busy year, having commenced its first strategic review in over a decade in January, at the behest of activist investor Sherborne, led by Edward Bramson (pictured), which has around a 30% stake in the fund. In its annual results reporting over the year to 30 September, the trust saw a total return of 35% in NAV terms and a total return 36% in share price terms. But trust analysts are still concerned by some of the decisions made as a part of the review such as the board's decision to terminate its contract with managers EPIRIS (formerly Electra Partners...