Witan Investment Trust PLC Edison issues update on Witan Investment Trust
21 Mars 2023 - 8:00AM
RNS Non-Regulatory
TIDMWTAN
Witan Investment Trust PLC
21 March 2023
London, UK, 21 March 2023
Edison issues update on Witan Investment Trust (WTAN)
Witan Investment Trust employs a multi-manager approach to
invest in global equities, including varied and interesting
strategies that may normally be unavailable to individual
investors. WTAN's recently released results for the year ended
December 2022 do not tell the whole story regarding the trust's
current performance, however, as they mask an improvement in
relative returns following a difficult first quarter. This
improvement gathered momentum in the second half of 2022 and
accelerated in the first two months of this year. In the six months
to end February 2023, the trust returned 3.7% in NAV terms and 4.8%
on a share price basis, outpacing the benchmark return of 0.9%
considerably. While it is early days still, this suggests the
portfolio's positioning in anticipation of improved economic and
market conditions is beginning to pay off and should continue to
reward investors as economic activity picks up over 2023 and
beyond.
WTAN's broad exposure to global large and mid-cap stocks, across
several managers, may appeal to investors seeking 'a one-stop
shop', offering a long-term buy and hold strategy. Exposure to
specialist strategies invested in private equity, real estate,
climate change mitigation and life sciences may attract those
seeking interesting opportunities beyond mainstream equity
investment. The recent upturn in absolute and relative performance
suggests the portfolio is well-positioned to benefit from further
improvement in market conditions. WTAN's Responsible Investment
strategy, which aims to ensure its portfolio consists entirely of
sustainable businesses by 2030, will appeal to a range of investors
looking for equity returns that are complemented by improving ESG
characteristics over time. The trust's historically wide discount
has scope to narrow, supported by regular share buybacks or a
sustained improvement in performance. Meanwhile, the discount
offers investors the chance to buy at a potentially attractive
price.
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