AITC chairman says ITs are beset by bureaucracy

The chairman of the AITC has warned regulatory pressure threatens to force investment trusts into th...

The chairman of the AITC has warned regulatory pressure threatens to force investment trusts into the same mistakes made by pension funds in recent years. Alex Hammond Chambers complained modern portfolio management is beset by bureaucracy and fear of underperforming what can be an irrelevant index. He also argued that current corporate governance practices put process above achievement. He said: "Investment trusts generally are threatened by these things and are in danger of making the same mistakes that have done such a disservice to many pensioners in Britain. "Indeed, boards of tru...