Emerging market investment trusts are still trading on discounts as wide as 19%, despite the broader rally for the region continuing to gain momentum.
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Much is spoken about 'disruption' in asset management with little being achieved, largely because it is a sector where regulation mitigates against fundamental change.
Investment trust fees have come under fresh scrutiny in recent months, with a number of managers reducing costs or introducing new charging structures in a bid to stay competitive with open-ended peers.
Helped by fall in sterling and dovish Fed