Scottish Mortgage investment trust (SMT) has led the investment trust sector in terms of total share buybacks so far in 2024, setting monthly and one-day purchase records.
According to Winterflood Securities' May roundup, buybacks across the investment trust sector hit £3bn, a 129% increase on the equivalent period in 2023. SMT alone bought back £582m between January and May, "considerably more" than any other trust over the period, head of research Emma Bird commented. Investment trust mergers surpass annual record in five months In comparison, the second highest total was £159m from Smithson Investment with Nick Train's Finsbury Growth & Income redeeming £142m shares in third place. May was a standout month on this metric with buyback volumes up...
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