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...The discount, which stands at an industry average of 9 per cent to net asset value, has put some investment trusts on the brink of being wound up or targeted by hedge funds including Paul Singer’s Elliott...
...Second, the rise has thrown defined benefit pension schemes from chronic deficit to massive surplus....
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...discount to net asset value....
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...The discounts have led to fund managers, wealth managers and peers to call for a change in the way investment trust fees are reported to investors....
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...According to Jefferies, this is the largest ever buyback programme by a UK investment trust, with £1bn representing 9 per cent of the Scottish Mortgage Investment Trust’s shares....
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