Disclosure – Non-substantive Research
This is not substantive investment research or a research recommendation, as it does not constitute substantive research or analysis. With this commentary, Kepler Partners LLP does not intend to influence your investment firm's behaviour.
We last updated our discounted opportunities portfolio in July. Since then, markets have been grinding higher, but discounts have not moved – and perhaps slightly widened. We think readers will largely agree that it is hard to have conviction about the direction of markets and leadership at the moment, which may explain the static picture regarding discounts. In the full article below, we discuss the picture regarding discounts in the market as a whole before reviewing our portfolio of trusts with strong NAV potential trading on wide discounts.
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