Noting that Provident is currently up 20% today…probably leaving it closer to it’s true value.
YES the recent events at Provident are VERY disappointing and it could be that information given to fund managers has not been the truth, the whole truth and nothing but the truth???
What is EQUALLY disappointing is seeing people comparing EDIN with FGT and SMT. Do those people really understand what the objective of each of these funds is and their markets? They are both truly excellent trusts and I hold both in similar proportions to EDIN…ie they are my (roughly) joint top 3 positions.
FGT is NOT an income fund…it is a balanced growth fund that has a semi-respectable income, (approximately HALF that of EDIN), which grows. Nick Train has said as much. In many ways it is similar to Fundsmith UT but with perhaps a greater UK emphasis…
SMT, is a GLOBAL growth fund, with a yield of a FIFTH of EDIN, which is as near as you are going to get a proxy for future technology…James Anderson and Tom Walker have said as much…and there was significant gain from the pounds depreciation against the dollar following Brexit.
If people don’t like EDIN, then fine…but at least compare apples with apples.
and by the way…just a thought…are people annoyed that Barnett didn’t ask the right questions, or that they themselves didn’t ask the right questions of what Barnett was doing and why they were investing in EDIN after the first profit warning?