RDR levelled the playing field between open- and closed-ended products, but Simon White, head of investment trusts at BlackRock, explains why the trust's 140-year-old structure remains fit for today's investment world
It is no secret that investment trusts have a long and colourful history. Even new fans of the sector will have heard how closed-end funds were conceived 140 years ago to give investors of modest means the same opportunities as wealthy capitalists, but with the added benefit of the risk being spread. Although times were very different back then – when investment trusts were used to play the global railway and mining booms – the reasons for using investment trusts have stood the test of time. By pooling money, savers with only small sums to commit can invest in exactly the same way as big i...
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