OREANDA-NEWS. Witan Investment Trust (WTAN) is a well-established fund that is unique among its peers in having a predominantly multi-manager approach. It aims to generate capital return and income growth in excess of UK inflation. The trust currently has allocations to 10 external managers, all with high-conviction investment strategies. Up to 10% of the fund is invested directly in specialist collective assets, including private equity. WTAN's NAV performance versus its benchmark is positive over one, three, five and 10 years. Its dividend yield compares favourably with the peer group average and the annual dividend has increased for 41 consecutive years.

WTAN's current 7.0% share price discount to cum-income NAV is wider than the average of 2.2% over the last 12 months. Over the long term, the discount has narrowed; the three-, five- and 10-year averages are 3.1%, 6.3% and 8.4% respectively. WTAN is proactive in managing the discount; it recently repurchased a 14.4m stake from Aviva (as a result of the Friends Life acquisition) at a 6.5% discount to NAV, removing an overhang in the stock.  

About Edison: Edison is an international equity research firm with a team of over 110 analysts, investment and roadshow professionals and works with both large and smaller capitalised companies, blue chip institutional investors, wealth managers, private equity and corporate finance houses to support their capital markets activity. Edison provides services to more than 420 retained corporate and investor clients from offices in London, New York, Frankfurt, Sydney and Wellington. Edison is authorised and regulated by the Financial Conduct Authority.