Alliance Trust chief executive Katherine Garrett-Cox has admitted the company needs to drive up demand for its shares in order to reduce its discount.
Over the past 12 months, the £2.5bn trust has bought back over 70m shares, worth around £250m and equivalent to over 10% of its share capital, according to broker Winterflood. “The biggest challenge for the trust is to drive increasing demand for our shares - we need to be a lot more confident about what sets us apart in the business we are in and get more shareholders on board,” said Garrett-Cox. “We are hoping to get new shareholders from the asset management side of our business – as inevitably the more people buying our open-ended products will also increase the possibility of the...
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