Investment trust broker Winterflood has dropped Alexander Darwall's Jupiter European Opportunities trust from its buy list, deeming the trust too expensive to buy after its shares drifted onto a premium.
Winterflood is instead recommending investors look at Fidelity's Europen Values trust, run by Sam Morse (pictured), because of its attractive discount. "We continue to rate the manager of Jupiter European Opportunities, Alexander Darwall, highly. However, following a strong period of outperformance we note that this fund now trades around NAV, while the European sector average discount is near to 9%," said the brokers. "For shareholders wishing to maintain their investment with Alexander Darwall while avoiding discount risk, we would suggest that they consider Darwall's open-ended fu...
To continue reading this article...
Join Investment Week for free
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes