Investment trusts allow a greater degree of freedom

Managers of investment trusts have greater investment freedom than their peers in the world of Oeics and unit trusts but Ucits III will allow open-ended vehicles to make greater use of derivatives

In looking at the skills and experience required to be an investment trust manager and whether a fund manager could move from managing an Oeic or unit trust to an investment trust, I think it best to begin by looking at the role of the fund manager in a general sense. Fund managers have to be authorised by the FSA to practice, and to qualify, they need to pass exams. The main UK qualification they take is the Investment Management Certificate (IMC) run by the UK Society of Investment Professionals (UKSIP). Many are, however, qualified chartered financial analysts meaning they have studied ...