Asset managers look to tap investors' 'patriotic spirit' with trio of trust launches

Schroders, Tellworth and Sanford Deland backing Britain

A trio of asset managers will tap into investors' "patriotic spirit" as they look to raise £450m in capital for investment trust launches this month.

Announcements last week that Schroders would launch the British Opportunities Trust and Sanford DeLand would offer its Buffetology strategy in closed-ended format followed an earlier note from Tellworth Investments of its planned IPO of Tellworth British Recovery & Growth Trust. Schroders said its trust would target £250m in capital, with Tellworth and Sanford DeLand aiming lower at £100m each. Jupiter to close Buxton's UK Growth trust as market cap plummets The trusts will look to support British companies at a time when many have run into liquidity problems due to the Covid-19 pa...