There are a number of closed end funds (Investment Trusts) trading at large discounts. I am currently researching a fair number of them using the AIC screening tool (www.theaic.co.uk). Some specialist and small funds are at the moment on what seem very high discounts- which it would seem a shake up is needed to see them reduced- as happened back at the end of the 1980's early 1990's-from memory.
Just seen a mention re Blackrock Throgmorton (THRG) which is trading at a premium of 5% despite being down 30% over 12 months. Five year performance is good but why the premium?
JZ Capital is one where they have stated they will make no new investments, realise maximum value at return capital to shareholders.
Currently NAV is $4.35 / £3.60 estimated so trading on a large discount of 50% +.
Tetragon Financial is on a larger discount of 65% plus.
There are other funds out there, but identifying which ones may wind up, get taken over or buy back is the issue.
Some like Seraphin Space are on a large discount for reasons that seem obvious- a niche investment area largely unproven. Macau Property Opportunity(MPO), which I used to own but sold during Covid at a loss , could be interesting but depends on your view of how tourism will re-grow in Macau and the future for property sales. MPO had issued a fairly dire warning a few years ago.
However I am sure there are opportunities given due research.
Schroder UK Public Private Trust has a holding in Atom Bank, an unquoted Bank I have been following and looks likely to float in the next few years. Trades at a significant discount and has bought back shares in the past to try and narrow the discount. (I hold).
Other stocks I have held for a while on big discounts are Trtiatax Big Box , Augmentum Fintech and Arix Bioscience. Augmentum is not really easy to understand- they have a good record with Fintech start ups and have just sold Cushon to Nat West. Arix Bioscience could be better at clarity of communication , just announced funding for a portfolio stock from a 3rd party- but no mention of the price/affect on the fund holding.
I have started a monthly investment plan into CT Private Equity who invest in Private firms mainly in UK and Europe. The discount…
