October marks all-time high for investment company fundraising

Record-breaking month for investment trusts

A total of £1.3bn was raised in October through secondary fundraisings by investment companies, a record high for the industry, according to the Association of Investment Companies (AIC).

This overtakes the previous record set in June  this year of £1.2bn. The Infrastructure sector raised the most capital at £405m, followed by Renewable Energy Infrastructure at £380m. The Royalties sector came in third with £231m. The largest amount raised by a single company was £231m, achieved by music royalties-focused Hipgnosis Songs fund. Renewable Infrastructure Group followed with £228m, and 3i Infrastructure raised £223m. VCTs see record fundraise for 2018/19 tax year Ian Sayers, chief executive of AIC, said: "This strong month for fundraising confirms that investors want...