Investors are liking the look of troubled private equity behemoth 3i Group Ord
III after a fresh sell-off, propelling it back into our bestseller list.
The trust’s shares have been on a downward trajectory since late last year thanks to softening sales growth and US expansion plans for its main holding, discount retailer Action.
A trading update last week confirmed continued problems in Action’s main market France and more widely, prompting a fresh sell-off. That lower price, and the trust’s hefty discount, continues to draw in buyers.
We otherwise see a huge amount of continuity in the latest bestseller list.
The top three names, Royal London Short Term Money Mkt Y Acc, Scottish Mortgage Ord SMT and Polar Capital Technology Ord PCT maintain their positions from last week, while Artemis Global Income I Acc stays in the sixth spot.
A handful of diversified tracker funds and the L&G Global Technology Index I Acc remain in the top 10. Seraphim Space Investment Trust Ord SSIT
also stays in the list but drops all the way down to the bottom, while renewables play Greencoat UK Wind drifts out to 11th place.
Funds and trusts section written by Dave Baxter, senior fund content specialist at ii.
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