One way to look at discounts. If a trust yields 4% and has a TER of 0.5%, its management cost is reducing its yield by 1/8 or 12%. If it trades at a 12% discount that increases the yield by 12%, and you are getting the management for free (which is probably a better bet than paying 0.1% for a computerized tracking program).
Anyway, unless you really rate the management, don't buy income or general trusts at a premium, or even at too small a discount.
