skip to content

Other

Edison update on Acorn Income Fund

10 December 2015 15:35

Edison has issued a research update on Acorn Income Fund.

It says: "Acorn Income Fund (AIF) has come through a period of change with its impressive long-term record intact. The death of founding small-cap portfolio manager John McClure in June 2014 caused uncertainty and a widening in the discount, but co-managers Simon Moon and Fraser Mackersie at Unicorn Asset Management have provided continuity of management, and stock selection has driven outperformance and a re-rating in the shares.

"The fund blends the small-cap allocation with an income portfolio managed by Paul Smith at Premier Fund Managers, which helps boost income and reduce volatility.

"At 9 December AIF's shares were trading at a small 1.7% discount to NAV. Average discounts over one, three and five years of 8.3%, 4.3% and 8.1% respectively reflect a widening through the second half of 2014, culminating in a three-year high of c 18% in February 2015. Strong relative performance and a re-rating in smaller company shares following the UK election have seen AIF's discount narrow sharply to a level more familiar to longer-term investors, and any widening from current levels could be viewed as a buying opportunity. The board uses buybacks and issue at its discretion to manage the discount."

At 3:35pm: (LON:AIF) Acorn Income Fund Ltd share price was +0.5p at 388.5p

Story provided by StockMarketWire.com

Related Company: AIF

Info Point:

To buy or sell shares call our Dealing Room on 0113 243 6941.

Too much jargon? Our glossary will help make sense of things.

Find out more about our Share Dealing Services.

Client Area Access

» Secure Login

» Not registered yet?

-

Branch Finder

Redmayne-Bentley have High Street branches throughout the UK. Find your nearest branch.