Edison issues update on Witan Investment Trust (WTAN): Set to benefit from growth and structural change.

London, UK, 3 October 2023

Edison issues update on Witan Investment Trust (WTAN): Set to benefit from growth and structural change.

Witan Investment Trust (WTAN) employs a multi-manager approach to invest in global equities, including varied and interesting areas such as climate change mitigation, private equity and the life sciences. Some of WTAN’s holdings are unlisted and are thus otherwise unavailable to individual investors. WTAN CEO Andrew Bell and Investment Director James Hart are optimistic about global growth from 2024 onwards and they expect this to drive equity markets over the medium term. Sectors with exposure to renewable energy will receive further support from structural changes arising from the transition to net zero carbon emissions. They have configured WTAN’s portfolio in anticipation of the better times they foresee ahead, and there are early signs that the recent market upturn is already having a favourable impact on performance.

The trust’s discount is wide by historical standards. It has scope to narrow if recent good performance continues, or if there is an improvement in market sentiment towards the UK market in general, and investment companies in particular. Meanwhile, as well as providing investors with the chance to invest in WTAN at a wider-than-average discount, the trust’s investment team believes the discount provides a ‘tremendous opportunity’ to add value for shareholders via share buybacks, which are accretive to the value of remaining shares.   

 
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