Investment Trusts

BlackRock's Sam Vecht is bullish about the long-term prospects for Russia, arguing there is more to the country's economy than oil.

Polar Capital's Ben Rogoff has put the 3% cash position in his Technology trust back into the stock market as valuations become compelling after the recent correction.

Only eight managers in the closed-ended retail space have achieved more than a 20-year tenure, according to new figures from the Association of Investment Companies.

The manager of the £143m Finsbury Growth & Income fund believes technology stocks are in the middle of the bull run that could see prices reach dotcom levels.

INVESTMENT TRUSTS

F&C has appointed Paras Anand as the manager of its European Assets trust.

The board of Invesco English and International (IEI) is planning close the investment trust because it is no longer large enough to be viable.

Perpetual Income & Growth Investment trust (Pigit) has postponed its issue of B shares because of uncertain market conditions.

INVESTMENT TRUSTS

The expected rise in capital gains tax could attract investors towards venture capital trusts, experts say, because the vehicles are exempt from both capital gains and income tax.