This month’s Alpha Investment Trust screen is dominated by new entries, highlighting how quickly the valuation picture can change for listed close-ended funds.
In this month’s report:
- UK small-cap fund Crystal Amber (CRS) still tops our investment trust screen
- Several UK equities funds are flagged by the screen, including Invesco Income Growth (IVI), Edinburgh (EDIN) and Henderson High Income (HHI)
- Our 10-trust portfolio also highlights Fidelity China Special Situations (FCSS) and ways to play technology and healthcare themes.
To fairly compare investment trusts with different remits and capital structures, we assess funds’ value relative to their historic mean premium/discount. Three-month share price momentum indicates market sentiment towards the funds. Next, a composite value-momentum ranking is arrived at using hedge fund manager Joel Greenblatt’s ‘Magic Formula’ two-factor model.
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