Edinburgh Worldwide – “The opportunity is as exciting as ever”
As the rate of inflation continues its descent (barring a small bounce in the UK in December 2023) interest rates look likely to fall. Growth stocks have been recovering and Edinburgh Worldwide (EWI), the most growth-focused of the global smaller companies trusts (see pages 22 and 23) has seen a pickup in its relative performance.Its managers comment that, within the portfolio, valuations are relatively low, and history suggests that we could be at the beginning of what may turn out to be a significant period of outperformance.
EWI shareholders might benefit further as this could potentially trigger a narrowing of EWI’s own wider than average discount (see page 27). At the same time, EWI’s managers say that the portfolio remains operationally resilient, technological transformation is continuing, and “the opportunity is as exciting as ever”. Reflecting this, team members have been adding to their EWI shareholdings.
Edinburgh Worldwide Investment Trust is an investment company and carries on business as an investment trust. Co. invests primarily in listed companies throughout the world. Co. is an alternative investment fund for the purposes of the EU Alternative Investment Fund Managers Directive. As of Oct. 31, 2017, Co.'s investments were valued at £383.8 million.
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