John Clougherty, head of retail at Fidelity Worldwide Investment, says investors need to realise how investment trusts and open-ended fund structures can be better used together.
Investment trusts now sit cheek by jowl with open-ended funds in terms of cost and availability. However, while their mandates can look similar, their composition and function within a portfolio can be different from open-ended funds. The investment trust sector is finding its purpose not as a straightforward equivalent to open-ended funds, but with its own place in a portfolio. The nature of the investment trust sector is changing. The majority of new issuance and secondary issuance in investment trusts for the year-to-date has been in specialist funds. A report by Winterflood Sec...
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