Investment Trusts

Threadneedle has abandoned plans to launch an Asset Backed Income trust after it failed to raise sufficient capital, Investment Week can reveal.

Investment company purchases on platforms by advisers and wealth managers are up 53% in the first six months of 2013 against the same period last year, research by the Association of Investment Companies (AIC) shows.

INDIA

The Edinburgh investment trust has tumbled a further 5% this morning as investors continue to sell out, moving on to a discount following Neil Woodford's surprise move.

Richard Scott, chief investment officer of Hawksmoor, is backing healthcare as a sector to outperform and has added three preferred names to his multi-manager funds.

INVESTMENT TRUSTS

The US government shutdown combined with growing concern over the country's debt ceiling have led to renewed fears US equity markets could sell off heavily if the impasse continues.

ITs

Jupiter's Philip Gibbs has been buying up Australian government bonds for his £233m Second Split trust in the view the sell-off in June was overdone.

Foresight Investment Group has launched a solar fund targeting a 6p dividend on the London Stock Exchange, the latest in a string of renewable energy IPOs with attractive dividends.