Investment Trusts

Aberdeen Asset Management has almost finished transforming listed portfolio Bramdean Alternatives from a hybrid multi-asset class vehicle to one focusing solely on private equity funds.

Wealth manager Smith & Williamson has lambasted investment trusts with no formal process to control their discount.

The Ignis-managed £979m UK Commercial Property trust is trying to merge with F&C Commercial Property trust to create one of the biggest vehicles in the sector.

Phil Doel's £45m F&C UK Select trust will be wound up after failing to beat its benchmark over the past two years.

JPMorgan has changed the name of its US Discovery investment trust following a change in the investment objective.

Edinburgh Partners' Dale Robertson has completed 95% of rationalisation task on trust

Fidelity Asian Values has introduced gearing for the first time since September. The £120m trust has drawn down $9m of a $15m loan facility it arranged ING Bank in February.

HEALTHCARE

Secured Life has launched a fund that generates income through the repayment of loans collateralised by US life insurance policies.

The £156m Pacific Assets Trust reported a 56.8% rise in NAV, for the year ending 31 January 2010.