View the article online at http://citywire.co.uk/money/article/a868264
Investment Trust Insider: issue 24 out now!
Look! Santa's reading Investment Trust Insider. It's essential reading for anyone wanting to know more about investment trusts.
Hello, welcome to the last edition of Investment Trust Insider for 2015!
We’ve three big presents for anyone wanting to know more about investment trusts.
Funds of funds: one-stop shops or total flops?
There are around a dozen investment trusts that invest in other investment trusts. These ‘funds of funds’ offer a one-stop shop to busy investors. Their managers can also be good at spotting when investment trusts are trading on cheap valuations; and gaining access to specialist trusts that would be out of the reach of the ordinary investor. However, they can be more expensive.
What American bargain hunters are buying
Three of the most active investors in investment trusts are US-based ‘discount hunters’ 1607 Capital Partners, Lazard Asset Management and Wells Capital Management. These bargain hunters exploit movements in the discount, which is the gap between an investment trust’s share price and its net asset value (NAV). They buy investment trusts when their shares are cheap and on a wide discount in the hope that the discount will eventually narrow and they will get a good return on their money.
We reveal five of their most recent positions as well as their biggest investment trust holdings they have sometimes spent years building.
Special times, unusual situations
Our ‘Inside the Market’ feature looks at four recent investment trust purchases bought by Witan (WTAN), a popular global investment trust, wealth managers Rathbone and Charles Stanley and investment manager Architas.
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In this guide to investment trusts, produced in association with Aberdeen Asset Management, we spoke to many of the leading experts in the field to find out more.
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