Investment Trust Insider on BlackRock Emerging Europe
James Carthew: BlackRock trust could have avoided upset
There have been some fun and games in the investment trust sector recently, what with the ongoing dispute between Invesco Perpetual Enhanced Income (IPE) and its former manager, the proposed merger of Dunedin Smaller Companies (DNDL) and Standard Life UK Smaller Companies (SLS), the demise of Ranger Direct Lending (RDL) and the shock loss of BlackRock Emerging Europe (BEEP).
Round-up of the action
IPE is trading at a small discount now. A 1.7% discout to net asset value (NAV) is not enough to get me excited but represents a return to sanity after a few months of trading on a 7%-8% premium. It is going to be fascinating to see how the voting goes on 20 July (unless the requisitionists throw in the towel beforehand). I am keen to find out who the board believes should replace Invesco bond managers Paul Causer and Paul Read.
The trust is at the top of its peer group for NAV performance over ten years, just ahead of the two BlackRock small cap trusts… read more here