reports
Review: New initiatives to boost shareholder value
Lazard World Trust Fund (WTR, formerly The World Trust Fund) seeks capital growth by investing globally in closed-end funds and holding companies that are trading at a discount to the value of their assets. Part of its approach involves working with portfolio holdings to unlock this value, and recent moves by the fund show it is prepared to practise what it preaches. So far in FY17, WTR has changed its name to link it more explicitly with its manager since launch in 1991; adopted a new benchmark...
Review: Searching out discounted assets globally
The World Trust Fund (WTR) invests globally in a mix of closed-end funds (35.7% at 31 August), investment trusts (39.2%) and holding companies (27.3%) chosen for their discounted assets and potential for capital appreciation. The managers seek to identify catalysts for re-rating and will also engage actively with holdings to boost long-term shareholder value. Benchmarked against the MSCI AC World Index, the portfolio is heavily underweight the US (which the managers see as broadly overvalued) an...
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