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Edison issued a research review on The Brunner Investment Trust (BUT) on 17 May 2023. The review noted BUT's NAV total return was above the average of 13 funds in the AIC Global sector over one, three, and five years, ranking second over three years. It also stated BUT has delivered 51 consecutive years of higher dividends plus capital growth, and its latest share price discount to NAV was 11.0%.
| Date | 17 May 2023 |
| Time | 07:00:10 |
| Category | Miscellaneous |
| ID | 5738Z |
London, UK, 17 May 2023
Edison issues review on The Brunner Investment Trust (BUT)
The Brunner Investment Trust (BUT) is led by a very strong team at Allianz Global Investors (AllianzGI). Its two co-managers, Christian Schneider (deputy CIO Global Growth) and Julian Bishop (global equity specialist), are supported by deputy managers Marcus Morris-Eyton (European equity specialist) and Simon Gergel (CIO UK Equities). The trust has notably outperformed its benchmark over each of the last four financial years despite significant market rallies and falls and periods of growth and value stock leadership. BUT's NAV total return is above the average of the 13 funds in the AIC Global sector over the last one, three and five years (ranking second over three years). The trust has delivered 51 consecutive years of higher dividends plus capital growth for investors.
The latest 11.0% share price discount to NAV could provide an interesting opportunity for new and existing investors, as it essentially implies an 11% discount on the price of some of the best companies in the world and is equivalent to around 18 years of ongoing charges.
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