by Val Cipriani, Investors’ Chronicle, January 23, 2025:
A number of investment trusts are set to offer exit options in 2025, giving investors the opportunity to cash in their investments at or near net asset value (NAV). Investors will have to weigh up whether to stay invested in the trusts for the long term, take the cash or even try to take advantage of any short-term opportunity that arises as a result.
Research by Numis has highlighted some 17 investment trusts that will or are expected to provide investors with some form of exit option between now and January 2026. These include trusts that offer redemption facilities every year, and some that do so less frequently..
Some of these discounts look attractive, but in context are not particularly wide. For example, Mick Gilligan, head of managed portfolio services at Killik & Co, noted that because Mobius Investment Trust’s (MMIT) discount seldom extends into the double digits, “there is not much to go for here in terms of a discount play, relative to the volatility of emerging markets”..
Polar Capital Global Financials (PCFT) has delivered strong returns over the past year as the sector rallied. James Carthew, head of investment companies at QuotedData, said that the trust “is in a great place”. “Trump 2.0 looks set to be good news for financials. I can envisage the trust expanding on the back of some decent performance,” he said.
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