Peter Walls, manager of the Unicorn Mastertrust fund, a fund of investment trusts, explains why he is a staunch supporter of the closed-ended structure.
As a self-confessed investment trust (IT) anorak I have no compunction in saying I love ITs. Leaving aside my belief that there are some great investment managers at large in the sector, I figure a structure that has stood the test of time for more than 140 years must have something rather good going for it. But of course, beauty is in the eye of the beholder and there are many who say that ITs are too complicated and conclude that the inexorable rise in the market share of open-ended funds will continue despite the levelling of the playing field which will be brought about by the RDR...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
