Why I’ve taken a position in dull but worthy City of London Investment Trust
As I’ve previously mentioned, I’m going to begin building my Sipp with a few well-selected investment trusts – an instant portfolio if you like, hopefully bought at a discount to the underlying value of the assets in them.
Trusts in this report
A few readers also offered a few suggestions of trusts I could look at, among them Scottish Mortgage which at the time I wrote was trading at about 1,461p a share, an 8% premium to its net asset value (NAV). I’ve long liked Scottish Mortgage and would like to join my kids and many others in owning it, but as I said, the premium was too punchy for me given I reckon markets are looking pretty frothy.