Swings and roundabouts...
Investment trust shareholders may once have been told to take the good of liquidity with the bad of wide discounts to net asset value. London arbitrageur Carrousel Capital takes a different view as its chief executive Bruno Sanglé-Ferrière explains...
Arbitrageurs may be seen by some as a negative force in the investment trust industry, but can often force through improvements that benefit investors, writes Investment Week.
Some commentators argue that groups have been beneficial for the industry because they have forced boards to take serious action to control discounts, which has ultimately benefited shareholders.
This is a view held by Bruno Sanglé-Ferrière, chief executive of Carrousel Capital, which has been involved in arbitrage activity
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