Two UK fund managers have criticised the discounts on the shares of listed private equity firms, calling their fellow investors "irrational" because prices do not reflect the strength of firms' portfolios.

The news comes as listed fund Graphite Enterprise Trust posts results that show a discount of 30% on net asset values despite strong realisations and a dividend payment.

Fund managers criticise 'irrational' discounts in private equity shares

Two fund managers say that shares in listed private equity firms are trading at discounts that do not reflect their strong portfolios

Kiel Porter

Graphite Enterprise Trust

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