Investment Trusts

Aberforth founder and fund manager David Ross is to retire in May 2014 after leading the firm for nearly 25 years, Investment Week understands.

Neil Rogan has taken a seat on the board of the Murray Income trust.

Investment Week's Investment Company of the Year Awards 2013 were held last night in London, rewarding the top talent within the closed-ended fund space.

Anthony Bolton's successor Dale Nicholls has revealed how he plans to make his own impression on the Fidelity China Special Situations investment trust when he takes over on 1 April next year.

INVESTMENT TRUSTS

Neil Woodford has warned investors in his £1.3bn Edinburgh Investment trust that the recent period of strong performance is unlikely to continue if the Federal Reserve tapers bond purchases.

TwentyFour Asset Management has raised £55m for its TwentyFour Income fund, more than the firm had targeted, after strong investor demand.

INVESTMENT TRUSTS

Alliance Trust has suffered a slowdown in returns in the third quarter which it said was due to its high allocation to US equities.

Angus Tulloch and Martin Lau, managers of the Scottish Oriental Smaller Companies trust, have bagged a performance fee of £1.7m over the year to the end of August.