Investment companies adopt discount controls in order to manage the discount at which their shares trade on the stock market. Discount controls can include buying back shares, tender offers, capital redemptions, or allowing shareholders to vote on the continuation of the company.
Discount control mechanisms (DCMs) involve an action that a company will take when its discount reaches a set level. Discount control policies (DCPs) are more common and indicate actions that a company may take at the discretion of its board, sometimes in line with a specified discount target and sometimes not.
More than two-thirds of investment companies (excluding VCTs) have either a DCM or a DCP. The AIC maintains the following list of discount controls, which is updated monthly to assist investors in their research.
Latest list of discount controls (excel)
Source: AIC. Last updated 30 September 2026. Excludes VCTs.
Disclaimer: Please note that while all endeavours are made to ensure the accuracy of the information within this file, the AIC does not accept responsibility for any errors or omissions.
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