The investment trust and funds sector is experiencing the "widest discount" since the Global Financial Crisis, as the turmoil of March took a toll on its performance.
The sector ended up closing the first quarter of 2023 down 1% - an underperformance versus the FTSE All Share which managed to end the quarter up 3%. According to Stifel, the average discount for the funds sector widened further in Q1 from 13% to 16%, a level not seen since the 2008 Global Financial Crisis. The sector reached similar levels temporarily after the mini-budget of September 2022 and during the March 2020 sell-off. Atrato Group lines up Home REIT bid as social housing chief departs After a bumpy 2022, technology saw some "relief", Stifel said, with Polar Cap Tech and...
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