Funds & ETFs 

When it's OK to pay

When it's OK to pay

One of the main differences between an investment trust and an open-ended fund is the fact that the former are listed on the stock market, so have in effect two values: that of the assets they hold - the net asset value (NAV) - and the share price. And the value of the assets and the share price seldom are the same, so many investment trusts trade at a discount to NAV.

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