Take on Trusts – November 2023

In November Edison’s investment companies’ team wrote on 10 trusts across a variety of sectors. Murray Income Trust celebrated its 100-year anniversary and the milestone of 50 years of annual dividend increases. Foresight Solar Fund saw record cash generation in the nine months to end-September and the first sale of its divestment programme at a 21% premium to its Q3 holding value. We also outlined how VinaCapital Vietnam Opportunity Fund and Vietnam Holding can benefit from the stabilising short-term outlook for Vietnam and its strong secular long-term drivers. We interviewed Alan Gauld of abrdn Private Equity Opportunities Trust about the significant discrepancy between the discounts to NAV of listed private equity trusts and the average discount that buyout portfolios were traded in the private secondary markets in H123. We also caught up with Trevor Steel of Baker Steel Resources Trust regarding the major milestone achieved by one of its largest holdings and the income potential of the trust’s portfolio.

Until next month, from the Edison investment companies team.