AITC fights DTI for trust flexibility

The AITC is lobbying the DTI to try and ensure investment trusts have greater flexibility in controlling their discounts. Two years ago, the DTI proposed that UK plcs should be allowed to repurchase up to 10% of their shares, a practice known as holding shares in treasury, and also be able to sell them back onto the market at a future date. Earlier this year the DTI issued a consultation document suggesting investment trusts should be excluded from this provision. It is planning to publish a draft regulation next month. While investment trusts are already able to buy back shares they are...