Investment Trust

Investment trusts allocating to UK equities benefitted from an election-fuelled bounce which helped them top the performance tables in Q2, according to data from broker Winterflood.

Prudential chair Paul Manduca has joined the board of the Templeton Emerging Markets trust as its chairman steps down after more than a decade with the company.

Broker Stifel has recommended investors sell Neil Woodford's Patient Capital trust due to its share price trading at a high premium to NAV.

Almost one fifth of investment trusts have changed managers in the last 18 months as a result of retirements, departures and greater board scrutiny, according to the Association of Investment Companies (AIC).

GLI Finance has announced plans to launch a new alternative debt investment trust which is aiming to raise at least £100m during its initial public offering.

P2P Global Investments has announced it will raise a further £250m through the issue of new C Shares.

Simon Cordery, head of investor relations and business development, investment trusts at F&C Investments, explores the extent to which market sentiment can affect trusts.

The Lindsell Train investment trust has announced it will no longer give itself the option of gearing the portfolio, in part due to rising regulatory costs.

UK Smaller Companies trusts were among the best performers last month, after the political uncertainty of the general election subsided.

The Patient Capital investment trust is to enter the FTSE 250 later this month, two months on from its record fundraising.