Investment Trusts

Investment trust sector sees an increase in number of boards implementing discount control mechanisms.

The FSA is reconsidering whether VCTs, REITs and offshore investment companies should be included in the forthcoming sales ban on unregulated collective investment schemes (UCIS) to retail investors.

AIFMD

The board of the top performing Atlantis Japan Growth trust - run by Ed Merner - has moved to fend off arbitrageur activity by implementing a discount control mechanism (DCM), capped at 10%.

James Anderson, manager of Baillie Gifford's £2.1bn Scottish Mortgage investment trust, is stepping down from the position for six months.

F&C has announced several changes to its £2.6bn Foreign & Colonial investment trust, including the creation of two new sub-portfolios.

Closed-ended structures can be a more appropriate way of accessing volatile and less liquid markets, writes Richard Titherington, manager of the J.P. Morgan Global Emerging Markets Income trust.

Henderson's Job Curtis, manager of the £838m City of London investment trust, said UK equity income investors are experiencing the best conditions since the 1950s.

PRIVATE EQUITY

It has been almost one year on since the introduction of new dividend rules for investment trusts that enabled UK-domiciled ITs to pay out capital gains as income.