Analysts urge merger of Barnett trusts after Edinburgh decision

Investment trust analysts have called for the merger of two of Mark Barnett's trusts after it was announced the manager would take on the running of the £1.1bn Edinburgh portfolio.

Research conducted by Investment Week in November found correlations between the Edinburgh trust and Barnett's flagship £865m Perpetual Income and Growth IT (PIGIT)) could force boards to alter objectives or merge trusts to differentiate the portfolios. As well as PIGIT and now Edinburgh IT, Barnett also manages the £231m Keystone trust, as well as the £62m IP Select UK Equity trust. Today, broker Numis intensified speculation by calling for a merger of PIGIT and Keystone. "Edinburgh IT is differentiated by a more concentrated portfolio, with the top ten comprising 61.5% of the por...