RCS - Witan Inv Tst PLC - Edison issues review on Witan Investment Trust

Witan Investment TrustAnnouncement

05/10/2022 09:31

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RNS Number : 7466B  Witan Investment Trust PLC  04 October 2022

London, UK, 4 October 2022

 

Edison issues review on Witan Investment Trust (WTAN)

With inflation surging, interest rates rising, regional recessions looking
imminent and the continued conflict in Ukraine, there is more uncertainty and
potential variances of possible outcomes than investors have been accustomed
to in recent years, which may suit Witan Investment Trust's (WTAN) broadly
diversified portfolio. In our March 2022 update we reviewed WTAN's FY21
results and in this note we review the HY22 results, highlight some
incremental portfolio changes and take a closer look at three of the external
managers.

 

WTAN currently trades on a share price discount to cum income (debt at fair
value) NAV of 11%. This compares to the average discount over the last 10
years of 4.6%. The board has been rigorous in buying back shares, with more
than 45 million repurchased so far in 2022 (more than 6% of the current 690.8m
shares in issue). Over the past five years some 200m shares have been
repurchased. In the event of an uptick in performance and a return of more
positive investor sentiment we would expect the current discount to be viewed
as something of a bargain.

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All reports published by Edison are available to download free of charge from
its website

www.edisongroup.com (http://www.edisongroup.com)

About Edison: Edison is a leading research and investor relations consultancy,
connecting listed companies to the widest pool of global investors. By
focusing on the volume and quality of investors reached - across institutions,
family offices, wealth managers and retail investors - Edison can create and
gauge intent to purchase, even in the darkest pools of capital, and then make
introductions via non-deal roadshows, events or virtual meetings.

Having been the first in-market 17 years ago, Edison now has more than 100
analysts covering every economic sector. Headquartered in London, Edison also
has offices in New York, Frankfurt, Amsterdam and Tel Aviv and a presence in
Athens, Johannesburg and Sydney.

Edison is authorised and regulated by the Financial Conduct Authority
(https://register.fca.org.uk/ShPo_FirmDetailsPage?id=001b000000MfYL6AAN) .

Edison is not an adviser or broker-dealer and does not provide investment
advice. Edison's reports are not solicitations to buy or sell any securities.

For more information, please contact Edison:

David Holder +44 (0)77 9626 8072 investmenttrusts@edisongroup.com
(mailto:investmenttrusts@edisongroup.com)

Learn more at www.edisongroup.com (http://www.edisongroup.com) and connect
with Edison on:

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