Twitter icon Email alerts icon Latest News RSS icon Magazine icon Stay connected:

View the article online at http://citywire.co.uk/wealth-manager/article/a736890

Jupiter Primadona implements zero discount policy

by Robert St George on Feb 28, 2014 at 11:19

Jupiter Primadona implements zero discount policy

The Jupiter Primadona Growth Trust has adopted a zero discount policy to support its share price.

Over the past year the trust’s discount has averaged 7.9%, despite strong performance. Its share price total return over the past 12 months has been 24.6%, compared with an average of 14.5% from its AIC Global sector.

‘The board believes that this commitment to the active removal of discount risk will provide materially improved liquidity for both buyers and sellers of the company’s shares,’ said Tom Bartlam, the trust’s chairman.

Managed by Richard Curling (pictured) and Derek Pound, the trust invests both directly in UK companies and internationally through other funds.

On that side of the portfolio the managers have recently rejigged their exposure to the US, taking profits from two of their best investments over the past year, AXA Framlington American Growth and Findlay Park American .

They allocated the proceeds to the small and mid cap focused Hermes US Smid Equity fund and to the PowerShares Buyback Achievers exchange-traded fund, which tracks US companies that actively buy back their shares.

‘This switch increases not only the income for the company but also its exposure to the cash-generative growth companies at the forefront of the US economic recovery,’ explained Curling and Pound.

leave a comment

Please sign in here or register here to comment. It is free to register and only takes a minute or two.

News sponsored by:

Sponsored Video: Bringing it all back home


As the UK coalition government strives to rebalance the national economy, so called 'reshoring' looks set to play an increasingly important role in economic recovery.

Today's top headlines

The Citywire guide to investment trusts

Investment trusts have proved to be a highly effective way to invest in the market. Citywire has interviewed the experts to find out more.

Sponsored Video: Barings on investing in Frontier Markets


From Nigeria to Pakistan and from Kenya to Kuwait, frontier markets are catching investors' attention as never before.

More about this:

Look up the funds

  • AXA Framlington American Growth R Acc
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them
  • Findlay Park American GBP
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them
  • Hermes US SMID Equity Z GBP Acc
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them

Look up the investment trusts

  • Jupiter Primadona Growth (Ordinary Share)
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them

Look up the fund managers

  • Richard Curling
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them
  • Derek Pound
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them

More from us

Archive

On the road

Click here to find out more from the Audience Development team.

Sorry, this link is not
quite ready yet