BOOK

Literacy Capital PLC

Financial Services First-pass screen £199m

340/1000 Overall fit

AI beneficiary 35% 30

Operating leverage 25% 30

Valuation 25% 37

Downside protection 15% 48

First-pass take

Investment trust with no AI exposure and minimal disclosed operating leverage. NAV returned just 0.3% in 2025 amid fragile UK economic conditions; share price discount widened (down 15.6% vs NAV down 0.3%) despite modest capital returns.

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