Tech outperformance has run its course

technology, media & telecoms shares up by 63% over one year, helped by falling discounts

Technology trusts have provided some of the best performing investment trust shares so far this year. In the 12 months to the end of September, shares of technology, media and telecoms (TMT) investment trusts rose an average 63% on a mid-to-mid basis, outperforming all other sectors, according to the AITC. At the same time, the average discount to net asset value has narrowed from 29.8% to 14.1%, at a time when the average investment trust discount narrowed from 14.3% to 12.7%. Close Finsbury EuroTech and Finsbury Technology were first and fifth best of all investment trust shares in the...