Ground Rents Income Fund (GRIO) share price has continued to come under pressure over the past few weeks, falling to a new all-time low of 78p as investor sentiment continues to be negative towards this asset class. It has subsequently recovered to 87.25p, but based upon the latest NAV of 113.24p as at 31st March 2019 the shares are still trading on a discount of 23%. We note the Board’s recent decision to maintain the current annual dividend payment of 3.96p (payable quarterly), putting the shares on a flat yield of 4.5%. With 93% of the portfolio having upwards only rent reviews (the majority of which being linked to RPI inflation) and 43% of the portfolio ground rent income due to be reviewed over the next six years, we see potential upside from these levels.