City of London trust maintains share price premium despite underperforming UK market

According to the £2bn trust's annual results, net asset value total returns stood at 4.5%, trailing behind the FTSE All Share index's total return of 7.9%, with stock selection cited as the primary driver of underperformance.  CTY's premium grew from 2.5% in 2022 to 3.1% during the reported period, although it has reduced to 0.5% at the time of writing, according to data from the Association of Investment Companies.  City of London is part of a small cohort of investment trusts in the AIC UK Equity Income sector trading at a premium, which also includes Chelverton UK Dividend, Law Deb...