AIC: UK-focused investment trusts offer double discount

UK bulls gaining confidence

The value offered by UK equities has become a familiar refrain, at least if you are in the habit of listening to UK equity fund managers.

Admittedly, opinions differ as to whether the UK's "Brexit discount" represents a compelling opportunity. Research from Panmure Gordon shows that this discount has persisted, and indeed widened, since the vote to leave the EU in 2016. This is true even if you adjust for the UK stock market's bias towards commodities and banks, and low weighting in tech. But the bulls are gaining in confidence. UK inflation dips but chancellor warns 'fight is far from over' In our annual fund manager poll, more investment trust managers tipped the UK to outperform in 2023 than any other market...