Investment Trust

Fidelity's Anthony Bolton has committed to hold on to his stake in the China Special Situations investment trust after he hands it over to Dale Nicholls in April next year.

ITs

Polar Capital is set to launch a Global Financials Investment trust for managers John Yakas and Nick Brind, in a move to exploit lowly valuations of banks across the world, Investment Week understands.

Miton's Gervais Williams has been named as the new manager on the £12m Investment Company plc, prompting a near 30% rise in the trust's shares.

J.P. Morgan Asset Management has named Simon Crinage as the new head of its investment trust business, following the departure of David Barron earlier this year.

Investment trust analysts at Liberum Capital argue investors should be digging deeper to find value in the investment trust space.

Aberdeen Asset Management's William Hemmings, head of closed-ended funds at the group, has joined the Association of Investment Companies (AIC) board.

David Barron, head of investment trusts at J.P. Morgan Asset Management, is to leave the firm.

BOLTON: MY OUTLOOK FOR 2013

Smaller company focused investment trusts were the big winners in 2012, with many seeing NAV gains of 20% or more, spurred on by the strong performance of the FTSE Small Cap (ex IC) index.