Third Point Investors shareholders clash over 'persistent and entrenched' discount

AVI calls for EGM and raises regulatory questions

Mike Sheen
clock • 4 min read
Third Point Investors shareholders clash over 'persistent and entrenched' discount

Asset Value Investors (AVI) and three other shareholders, representing over 17% of Third Point Investors’ (TPIL) ordinary shares and 10% of voting rights, have called for an emergency general meeting to instigate a new investment policy aimed at fixing the trust’s “persistent and entrenched trading discount to NAV”.

The calls come amid a clash between AVI and TPIL's board over concerns regarding the trust's dual share class structure, which the asset manager believes creates issues around conflicts of interest and...

To continue reading this article...

Join Investment week

  • 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

Join now

 

Already an Investment Week
member?

Login

More on Investment Trusts

Thomas Coughlin of Kinesis Money

Fool me twice: The lessons we are yet to learn in the 100 years since Weimar hyperinflation

Need to recognise inherent flaws in current system

Thomas Coughlin
clock 22 October 2021 • 3 min read
TPI “hopes this will put an end to AVI’s continued attempts to commandeer the apparatus of the company in pursuit of its own agenda, at the expense of all shareholders”.

Third Point Investors rejects 'disappointing' second call for EGM

Accuses AVI of attention-seeking

James Baxter-Derrington
clock 22 October 2021 • 2 min read
Gordon Grender steps down after 23 years

Brown Advisory trust names Stephen White as chair

Gordon Grender steps down after 23 years

clock 22 October 2021 • 1 min read