The discount the share prices of many investment companies offer to the sum-of-the-parts of their portfolios often provides much intrigue for market watchers, especially when that discount is particularly large.

Everybody loves a bargain, and when a big discount can even mean access to assets for free, punters can get excited.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00.