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Bargain investment trusts for uncertain times

Uncertainty abounds but funds trading at a discount to NAV offer a margin of safety
Bargain investment trusts for uncertain times

Our investment trust screen is flagging value in several areas that will interest investors as the world looks ahead to when it can build back from the coronavirus recession. Momentum for the share prices of many trusts in our top 10 has recovered in the past month but in many cases is still negative on a three to six-month basis.

  • Opportunities in European logistics assets are available at a discount through Tritax Euro Box (EBOX) and Aberdeen Standard European Logistics Income (ASLI).
  • The 34 per cent discount for Pershing Square Holdings (PSH) offers a margin of safety for investors looking for exposure to US companies. This is on the edge of our rules for investing in hedge fund strategies, but the fund has a 98 per cent net long position in large cap equities
  • On the other side of the great US-China divide, Fidelity China Special Situations (FCSS) once again scores well and is trading at a 10 per cent discount.
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