investment trusts

Threadneedle has abandoned plans to launch an Asset Backed Income trust after it failed to raise sufficient capital, Investment Week can reveal.

Richard Scott, chief investment officer of Hawksmoor, is backing healthcare as a sector to outperform and has added three preferred names to his multi-manager funds.

ICYA 2013

INVESTMENT TRUSTS

The Battle Against Cancer investment trust (BACIT) has announced its first charitable donations, totalling almost £1m, after a strong first five months.

Surging global equity markets' have pushed down discounts across the investment trust industry so far this year, pushing a number on to premiums, the latest data shows.

Anthony Bolton has told investors he has no regrets about taking on the Fidelity China Special Situations trust, despite a "disappointing" run of performance.

Caledonia trust has recruited Stuart Bridges, chief financial officer at insurer Hiscox, to join its board as it continues to implement a turnaround plan in an effort to narrow its discount.

UK

The Association of Investment Companies has joined Morningstar in urging investment companies to fully disclose portfolio holdings so they can compete with open-ended funds in a post-RDR environment.