magazine archive


magazine archive

Investment Trusts

Why City of London is so popular with investors

Thursday 14 Mar 2024

One of the most popular investment trusts with AJ Bell’s ISA millionaires, City of London (CTY) is a favourite with investors seeking long-term income and capital growth and a gateway to large international companies. However, while the long-run performance record is strong, Curtis’ cautious...

No relief in sight for beleaguered Finsbury Growth & Income so far in 2024

Thursday 22 Feb 2024

By his own admission, Nick Train, manager of Finsbury Growth & Income (FGT) , isn’t one for nostalgia, whether that is reflecting on past glories or the ‘melancholy fact’ as he puts it that the popular investment trust has underperformed the FTSE All-Share index for the last three years. Moving...

What to do if your investment trust merges or shuts

Thursday 01 Feb 2024

In 2023 we saw a wave of corporate activity in the investment trust sector, dominated by mergers and closures. Eight companies closed their doors, while four mergers took place, with a further four announced that are due to take place this year, according to the Association of Investment Companies...

What should investors do with Scottish Mortgage?

Thursday 25 Jan 2024

For the first time in years Scottish Mortgage Investment Trust (SMT) investors are contemplating selling up and moving on. Over the past month, it is the most sold investment trust on the AJ Bell platform, accounting for 14.6% of all trust sales. This is almost unheard of, and it is meaningful too...

The investment trusts which left their rivals in the shade in 2023

Thursday 21 Dec 2023

It has been a difficult year for investment trusts as a whole. Discounts have widened across various sectors and there have been a series of failed continuation votes and mergers. Yet some trusts have still done extremely well - relative both to the wider market and their peer group. In this...

Beware of the trusts bearing big discounts

Thursday 23 Nov 2023

It is the best of times, and the worst of times for investment trust fans. Discounts are at their widest since the financial crisis, at an average of 16.9%, according to data compiled in early November by the Association of Investment Companies. That’s not good news for anyone looking to sell out,...

Expect 2024 to see more mergers of sub-scale investment trusts

Thursday 16 Nov 2023

We would hesitate to call it a wave of consolidation – maybe a ripple would be more appropriate – but this year has seen a number of mergers among investment trusts. There is a long tail of sub-scale funds and trusts in the UK all desperate to attract more investors, but with the average discount...

What is a continuation vote and why does it matter to investors?

Thursday 09 Nov 2023

Unless they own shares in investment trusts, most readers probably will not have heard of the phrase ‘continuation vote’, and there is a chance a good many who do own investment trusts may be unfamiliar with them too. However, as the recent ups and (mostly) downs at music royalty fund Hipgnosis...

What a change of management means for investors in popular trust Mid Wynd

Thursday 05 Oct 2023

MID WYND INTERNATIONAL AIC Sector – Global Ticker – MWY Share price – 717p Discount to NAV – 1.5% Dividend yield – 1.1% Ongoing charges – 0.61% Source: The AIC, Artemis As highlighted in our ‘funds with stamina’ story on 31 August , one of the investment trusts that has achieved at least a 6% total...

What investment trust boards are doing to address wide discounts

Thursday 21 Sep 2023

According to data from the AIC, the average investment trust discount to net asset value has widened from 12.2% at the end of 2022 to 14.5% as of 8 September 2023, while sector averages have generally widened. The exception is private equity, which narrowed from 25.1% to 4.5%, skewed by 3i’s (III)...

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