Number of investment trust share buybacks hits record high but effectiveness called into question

On the identical time, an growing variety of funding trusts veered in direction of tender affords, with a complete of 28 funds embarking in 47 transactions of the kind, a degree not seen since 2019.
These had a mixed price of £860m, down from the file £1.2bn of 2020, however practically double the £580m tendered in 2022.
Deep Dive: UK corporations lean in direction of buybacks as trusts weigh low cost narrowing effectivity
The rationale behind share buybacks stems from funding belief boards’ urge to proactively try to slim reductions.
On the finish of October 2023, the typical funding belief low cost …