Wide discounts to NAV (net asset value), strategic reviews and pressure from activist investors such as Saba have helped spur the record levels of takeover activity in the investment trust sector that shows no sign of letting up. Despite a noticeable narrowing of discounts in recent months, many trusts continue to trade well below NAV, so the takeover frenzy looks set to continue. While the...

Creates largest European Smaller Companies trust Lower costs for shareholders Focus on 'dynamic' European small and medium-sized firms The consolidation wave continues to break across the investment trust sector, with the struggling European Assets (EAT) and the stronger-performing European Smaller Companies (ESCT) the latest names to propose a merger. Wide discounts to NAV (net asset value)...

Merger creates biggest European trust Net assets to exceed £2.1 billion Reduced ongoing annual charges Yet another investment trust has thrown in the towel with Henderson European Trust (HET) set to merge into Fidelity European Trust (FEV) via a combination which will create the 'go-to' UK-listed European trust with net assets north of £2.1 billion. The deal continues the trend of...