We read the attached newspaper article and believe all clients should have exposure to this stock.
The fund trades on an ~14.2 per discount to NAV and pays a dividend yield of ~1.5 per cent.
Elliott, the largest individual shareholder in Alliance Trust with a 12 per cent stake, has nominated three independent non-execs to join the board, ahead of the Trust’s Annual General Meeting on 29 April 2015.
Elliott said it has made the proposals due to a trio of concerns about underperformance against sector peers and relevant benchmarks, the high and inflexible cost of the £2.4bn Trust’s internal investment management function, and continuing losses at Alliance Trust’s two internal subsidiaries.
Elliott are likely to try and hive off the subsidiaries which may move the share price higher and narrow the discount to NAV.
Factsheets for the above funds have been provided on our previous bulletins but should you require any further information, please do not hesitate to contact me on 0161 228 1709 or firstname.lastname@example.org.