The number of investment companies trading at a 52-week high has fallen for the fifth week in a row. With just eight funds making it into the latest Discount Watch.
ByFrank Buhagiar•07 May
We estimate there to be eight investment companies which saw their discounts hit 52-week highs over the course of the week ended Friday 03 May 2024 – two less than the previous week’s 10.
The number of 52-week high discounters has now fallen for five weeks in a row. Just eight funds make it on to the list this time round compared to 10 previously.
What’s behind the ever-diminishing list of names, particularly as a high degree of uncertainty remains over the timing and depth of any interest rate cuts this year? Could it be that investment company discounts are seasonal?
For the last two years, the weekly number of 52-week high discounters has followed a very similar pattern. Only two years of data, true, but could there be something that causes a significant drop off in year-high discounters around end of March/beginning of April? Well, there just might be.
The top-five discounters
FundDiscountSectorGround Rents Inc GRIO-70.08%Property
Gore Street Energy Storage GSF-45.70%Renewables
VPC Specialty Lending Inv VSL-39.62%Debt
New Star Investment NSI-39.20%Flexible
Downing Renewables & Infrastructure DORE-38.09%Renewables
The full list
FundDiscountSectorVPC Specialty Lending Inv VSL-39.62%Debt
Impax Environmental IEM-12.32%Environmental
Jupiter Green JGC-32.83%Environmental
New Star Investment NSI-39.20%Flexible
Schroder British Opps SBO-35.78%Growth Capital
Ground Rents Inc GRIO-70.08%Property
Gore Street Energy Storage GSF-45.70%Renewables
Downing Renewables & Infrastructure DORE-38.09%Renewables
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