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Edison research update on on Aberdeen UK Tracker Trust

31 July 2015 13:30

Edison has issued a research update on Aberdeen UK Tracker Trust.

Edison says: "Aberdeen UK Tracker Trust (AUKT) is unique among investment trusts in tracking the FTSE All-Share index. It seeks to match index performance closely in both capital and income terms, through maintaining low costs and efficient trading. It provides more efficient exposure to the UK market than a FTSE 100 or FTSE 250 tracker as it is not required to buy and sell entire holdings as stocks move between indices, and also does not have to manage fund inflows and outflows that can affect the performance of open-ended funds.

"Gearing is not employed and the manager aims to maintain tracking error at around 3bps. AUKT's ongoing charge of 0.3% is competitive and the 6% discount to NAV provides a slight yield uplift.

"AUKT's share price discount to NAV including income has followed a modestly narrowing trend over the last three years, averaging 5.6%. Although the discount has narrowed to 5.9% from a 12-month high of 7.6%, it is still wider than its 12-month low of 2.9%, suggesting scope for further narrowing."

At 1:30pm: (LON:AUKT) Aberdeen Uk Tracker Trust Plc share price was -1p at 315p

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