City File: Electra Investment Trust
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.IT IS a measure of the City's optimism that Electra Investment Trust has outperformed the FT All-Share Index by nearly 20 per cent over the past three months. This has been prompted by a feeling that the market is good for selling venture capital investments through flotations, and so many of Electra's investment are undervalued.
But will this optimism persist? The flotation market in both the UK and US has been heavily tapped, and there is little appetite for trade purchases or outright takeovers. So will this mean that Electra is left holding a few babies? Philip Middleton at Smith New Court says no, but adds that Electra is a cheap recovery play even at these prices.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments