Canary in the coal mine? Trust asset value crashes following Gove's proposed ground rent reforms

City AM

Canary in the coal mine? Trust asset value crashes following Gove's proposed ground rent reforms

An investment trust that was set up to invest in ground rents has seen its net asset value slashed by around a quarter as it has started to factor in Michael Gove’s proposed ground rent reforms. Ground Rent Income Fund reported the value of its portfolio had dropped by 24.6 per cent over the last year, and 20.7 per cent over the last six months. The value of the trust’s portfolio has fallen to just £81.5m, with 97 per cent of the drop being att…