According to the Association of Investment Companies (AIC), private equity trusts delivered an average return of 409% over the 10 years to 31 May 2023, which compares very favourably to 156% for all investment companies.Yet despite this spectacular long-run performance, 14 out of 17 trusts in the AIC's Private Equity sector trade on double-digit discounts to NAV (net asset value) at the time of wr

A decision to reduce exposure to small-cap domestic stocks and increase Witan Investment Trust's (WTN) weighting to Japan are chief executive officer Andrew Bell's two key moves of the past year. The former markets strategist believes UK equities may be about to enter a new phase, as pessimism about growth dissipates and investors latch onto the value offered by the mega-caps.Appetite for small an