The absence of listed closed end investment companies affects the Athens Stock Exchange
The absence of listed closed end investment companies affects the Athens Stock Exchange – The example of Alpha Trust-Andromeda
The existence of listed investment companies, would have offered increased trading volumes and enhanced liquidity to all equity sectors.
The example of Alpha Trust-Andromeda pictures the absence of listed investment companies in the Athens Stock Exchange and what such companies could have achieved for their shareholders.
Andromeda – the only existing listed portfolio investment company – announced that:
It has managed to growth its value “NAV” by 41.15% since its inception in the mid-2000s and till the end of 2018, while at the same period the Athens General Index has lost 73%.
Such performance has been achieved by investing less in banks (especially during 2018) and more in quality companies independent of their capitalization, as indicated by Its biggest positions which are Quest Holdings, Titan Cement Company, Thrace Plastics Group , ELVE s.a and IASO Group.
Since its inception, it has returned up to €70.3 million to its shareholders.
Consider, how the Athens Stock Exchange could have developed, if there were more listed investment companies, in means of trading volumes and liquidity.
Unfortunately, the company has remained alone in its sector.