Good year for closed-ends

Over the past 18 months there have been 60 newly issued investment trusts, of which 28 were split caps and 11 were quasi splits, according the Credit Lyonnais Investment Trust Year Book 2001. Looking at the investment trust industry from January 2000 to June 2001 there were 27 reconstructions and rollovers of trusts, of which six were reconstructed into splits while two others offered rollovers into other split-cap trusts. In the course of the past 18 months, 15 trusts changed their policy and investment objectives, with a large number of those changing their focus to growth thr...