It is fair to say it has become rather fashionable to criticise alternative assets. However, alternatives have been going from strength to strength in one part of the investment universe - the humble and ancient investment trust.
A recent research note by the Dexion Capital reserach team sums up this remarkable transformation, which has resulted in the UK leading the world in accessible alternative asset structures. According to Dexion , since the start of 2011, there have been 60 alternative asset fund IPOs and more than £27bn of capital inflows in the universe. Ten years ago conventional equity investment trusts (excluding 3i) accounted for around 80% of the entire investment company sector, led by Alliance Trust, Witan and Foreign & Colonial. Now they account for fewer than 60% and the universe of the to...
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