This week’s Discount Watch sees 32 Investment Companies trading at 52-week high discounts. Down five from last week. Three of which are trading at discounts of over 60%.
By
Frank Buhagiar
We estimate there to be 32 investment companies whose discounts hit 12-month highs over the course of the week ended Friday 22 March 2024 – five less than the previous week’s 37.
Interest rate sensitive sectors such as renewables, equity income and UK smallers all well represented among the 32 names (see table below). The prospect of interest rate cuts being been pushed further out this year weighing on sentiment perhaps? After all, Q1 is drawing to a close.
The top-five discounters
Investment Company Sector 52-week high discount
Gresham House Energy Storage (GRID) Renewables -68.69%
LMS Capital (LMS) Private Equity -66.90%
Hydrogen One Capital Growth (HGEN) Renewables -60.19%
Menhaden Resource Efficiency (MHN) Environmental -42.58%
Apax Global Alpha (APAx) Private Equity -35.70%
The full list
Investment Company Sector 52-week high discount
Pacific Assets (PAC) Asia Pacific -13.76%
Asia Dragon (DGN) Asia Pacific -19.53%
Schroder Asian Total Return (ATR) Asia Pacific -8.91%
Fidelity Asian Values (FAS) Asian smaller companies -12.03%
Real Estate Credit Investments (RECI) Debt -18.93%
Utilico Emerging Markets (UEM) Emerging markets -19.99%
Impax Environmental (IEM) Environmental -10.83%
Jupiter Green (JGC) Environmental -27.23%
Menhaden Resource Efficiency (MHN) Environmental -42.58%
Baillie Gifford European Growth (BGEU) European -15.97%
European Assets (EAT) European smaller companies -13.21%
Ruffer (RICA) Flexible -7.08%
Schroder BSC Social Impact (SBSI) Flexible -19.94%
Baillie Gifford Shin Nippon (BGS) Japan -17.58%
Baillie Gifford Japan (BGFD) Japan -13.14%
North American Income (NAIT) North American equity -15.99%
LMS Capital (LMS) Private equity -66.90%
Apax Global Alpha (APAX) Private equity -35.70%
Downing Renewables and Infrastructure (DORE) Renewables -33.06%
Gresham House Energy Storage (GRID) Renewables -68.69%
Hydrogen One Capital Growth (HGEN) Renewables -60.19%
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