Edison research update on FRCL Investment Trust
In May 2015, the discount ceiling above which FRCL's shares are repurchased was lowered from 10.0% to 7.5% as part of a progressive discount control strategy and FRCL's share price discount to NAV (including income) has narrowed to sit close to the new ceiling. FRCL's 2.2% dividend yield is the highest in a selected peer group of global funds with a market cap of over ?200m and less than 25% UK exposure.
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