European trusts outperform open-ended

while european unit trusts have outperformed over three years, closed-ended vehicles have overtaken them over a longer timeframe

European investment trusts have outperformed their open-ended peers over one and five years despite the fact the closed-ended sector's returns have been distorted by the large number of split-caps therein. Standard & Poor's figures show while unit trusts investing in Europe have outperformed over three years, bid to bid, closed-end vehicles have beaten them over the longer timeframe. Over three years to 12 April, share prices in the European investment trust sector dropped by an average of 35.7%, bid to bid. At the same time, the European ex-UK IMA sector posted an average fall of 13.1%...