Z-Scores September 2025

Investment Trust Z-Scores Report – September 2025

Z-scores are a widely used measure in the investment trust sector, showing how far a trust’s current share price discount or premium to NAV deviates from its average. A negative Z-score highlights a wider-than-usual discount (indicating relative cheapness), while a positive Z-score signals a narrower discount or premium (indicating relative dearness).

This publication provides an in-depth review of the top ten negative Z-scores and the top ten positive Z-scores across London-listed investment trusts, using data as at 19th September 2025. Each entry includes concise commentary to help explain the factors behind current discount and premium levels, offering valuable insights for investors tracking trust valuations and discount trends.

Details:

• Author: Andrew McHattie

• Length: 10 pages

• Format: A4 PDF

• Focus: Investment trust discounts, premiums, Z-score analysis