The Brunner Investment Trust - Overhang lifted – potential for a narrower discount

The Brunner Investment Trust (BUT) is managed by Matthew Tillett at Allianz Global Investors (AllianzGI), along with deputy managers Christian Schneider and Marcus Morris-Eyton. Tillett is confident that the trust’s shares can trade at a narrower discount to NAV following the exit of a major shareholder, which had acted as an overhang since 2016. He suggests that ‘now is a great opportunity to buy a solid reliable trust that has delivered good performance over the long term’. The manager says that BUT has a ‘philosophy and process that is tried and tested’ with the fund offering investors ‘high quality, large, liquid companies at attractive valuations’. He believes that the trust is well positioned to benefit in an environment where investors place a greater emphasis on the quality and strength of company fundamentals.