Schroder UK Growth trust sees discount jump after Dean exit

Having traded on a discount to NAV of 5% at the close of play on Friday, the gap widened to a closing level of 8.5% as of Tuesday evening, according to Winterflood Securities. The current discount is significantly higher than its 12-month average of 2.3%, though much of the initial move out to 5% was caused by the trust's lacklustre recent performance. The NAV is down 1% in the last 12 months, compared to a FTSE All Share gain of 8%. The last time the discount was as wide as its current level was when former manager Richard Buxton stepped down in May 2013, to be replaced by Dean. T...