Alliance Trust's discount narrows sharply following its appearance in FTSE 100 index

Alliance Trust's discount has narrowed sharply following its entry to the FTSE 100 for the first tim...

Alliance Trust's discount has narrowed sharply following its entry to the FTSE 100 for the first time in its 120-year history. The £2.6bn trust's promotion has led to buying if shares by tracker funds and market makers, which has caused a narrowing of the trust's discount to 13.5% on Friday. This is 4% lower than at the start of the 2008. Alliance Trust chief executive Alan Harden hailed the jump into the flagship UK index as a notable milestone. He said: "The fact it has reached this size is a testament to our company's success in generating investment growth." Alliance Trust's d...