ITs vs Oeics: round one

We in the investment trust business love to find ways in which our products are better than their op...

We in the investment trust business love to find ways in which our products are better than their open-ended counterparts. Of course, most of us work in companies where the value of those open-ended assets far outstrips that of the investment trusts, which may account for our determination to punch above our weight, but from time to time a really compelling advantage comes along. One such example has come about as a result of last month's Budget. With the proposed new 50% rate of income tax for the highest earners, the gap between income tax and capital gains tax (which was cut to a flat ...