The John Hancock Bank and Thrift Opportunity Fund had an average discount of about 13.5 percent over
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The John Hancock Bank and Thrift Opportunity Fund had an average discount of about 13.5 percent over a five‐year period. At one point, the fund sold for a discount of 18 percent, at which time an investor could buy $1 worth of securities in this fund for $0.82. If the discount narrowed to its five‐year average of 13.5 percent, the investor would make money even if the portfolio value (its NAV) remained unchanged.
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Related Book For 
Investments Analysis And Management
ISBN: 9781118975589
13th Edition
Authors: Charles P. Jones, Gerald R. Jensen
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