Investors snap up over half of Aviva’s Witan stake


#1

Originally published at: http://whichinvestmenttrust.com/investors-snap-up-over-half-of-avivas-witan-stake/
The sale means there’s no longer a huge overhang depressing the share price, whilst investors have potentially picked up a bargain. Aviva has succeeded in disposing of its £252 million stake in Witan investment trust (LON:WTAN), the £1.39 billion market cap giant. Over half of the 15.8% stake was sold in the open market to…


#2

I picked up some of the Witan shares for the first time. Let’s hope your buy list has got it right Which investment trust !

With the Brexit vote in the offing I don’t expect the discount to narrow much soon, but it is a good price for what seems to be a well managed fund.


#3

I’m sure discounts will be wide until Brexit and even then, it we vote out discounts will widen much further I’m sure @elitist .

The article here http://whichinvestmenttrust.com/witan-whacks-up-the-dividend-up-following-another-successful-year/ describes Witan well. I can tell you that a number of the underlying fund managers it uses aren’t open to ordinary UK investors like you and me.

One thing I like is Andrew bell has invested in this substantially himself, it states he has 120,000 shares. I believe this helps frame his mindset as an owner of the shares and puts his financial interest in alignment with shareholders.

I just bought a holding just over an hour ago but I calculate the discount I got was a smidgeon under 6%. Maybe that the market makers spread or maybe there’s a little more demand for the shares.

Sometimes one of the problems with these self managed trusts, Scottish IT is another, is they’re bad at talking to shareholders, the media or where ever, which I think adds to their discount. Caledonia is notoriously bad at it and has a very wide discount as a result.

If the discount goes out a lot form here, because of Brexit or something else, I think i will add a lot more to my holding. Similarly, if the performance holds up I’d consider doing the same. It has the potential of being a big core holding this one because it’s actually quite diverse in of itself as a function of its multi-manager set up.


#4

I wouldn’t have been so hasty in rushing to pick these up @robbieboy @elitist there’s so much uncertainty around right now I’m sure there’ll be a better time to buy Witan shares on a proper discount.

Also, if you like the multi manager theme you should have a look at BACIT, the charity investment trust, they also have a great live up of managers and lowish fees.