Investec reiterates 'sell' recommendation for Schroder UK Public Private Trust

‘Wary of siren’s call’

Investec is unconvinced by new proposals from the board of the Schroder UK Public Private Trust (SUPP) and has reiterated its ‘sell’ recommendation, urging investors to be “wary of the siren’s call” of the discount.

Last week (21 April) the board of the £366.9m trust proposed to remove restrictions on where it can invest to allow managers to consider global investments. Investec noted that while the board said the proposals would give "unparalleled access to a global universe of top-quality opportunities", the analysts require more evidence and would want "granular data to back this bold statement". Managers 'applaud' Ackman's Netflix exit They added, even if evidence backed up the statement, "the harsh reality is that it is likely to be several years before the company reaches its intended de...