North American Income eyes tender offer if it survives continuation vote

11.5% NAV discount

The North American Income trust (NAIT) has laid out plans for a buyback scheme of up to 15% of its shares to manage its growing discount if it survives its upcoming continuation vote.

In a shareholder notice issued on Friday (14 June), the NAIT board said it plans to take further action to prevent the trust's shares from trading at a significant discount to their prevailing net asset value. According to data from the Association of Investment Companies, the trust is running on an 11.5% discount. abrdn manager departs for Janus Henderson as North American Income swaps investment manager Under the conditional tender mechanism, NAIT's board will buy back up to 15% of its shares provided that, by 30 September 2027, either the NAV total return has not exceeded the to...