In its annual results for the year ended 31 January 2024 published today (1 May), IPU posted negative returns, albeit much improved from a year prior. Net asset value total return was down 4.1% for the year alongside negative 1.8% share price total return, compared to the 3.3% drop of its benchmark, the Deutsche Numic Smaller Companies + AIM (excluding investment companies) index. The trust's share price return led to its discount marginally narrowing from 11.6% to 11.1% at the end of January. However, according to data from the Association of Investment Companies, IPU's discount has ...
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