Witan Investment Trust PLC Edison issues review on Witan Investment Trust
04 Octobre 2022 - 2:01PM
RNS Non-Regulatory
TIDMWTAN
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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