DFM behemoths blamed for widening trust discounts
Wealth managers have been accused of rapidly moving away from the investment trusts sector creating wide discounts in some parts of the market.
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Investment Trusts
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AIC slams regulator over KID risk indicators
The Association of Investment Companies has urged the Financial Conduct Authority to do more to protect consumers against “misleading” and “reckless” key information documents (KIDs).
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Schroders trust transitions without clarity for Isa investors
The Schroders UK Growth Trust will transfer to Baillie Gifford management on Friday evening, despite its saving scheme investors being none the wiser about their options for remaining invested in the investment trust.
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Board pans exiting Schroders manager as it shifts to Baillie Gifford
The board of the £303.4m Schroders UK Growth Trust has taken a parting shot at fund manager Philip Matthews, who is exiting the asset manager, as the investment trust shifts management responsibilities to Baillie Gifford due to underperformance.
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Invesco reaches truce on ‘unsavoury debacle’ over fees
Invesco’s bout of bad publicity as it battled the Enhanced Income investment trust board over fees in a David and Goliath battle has come to an end with an announcement it will continue to manage the trust.
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Blackrock manager faces further blow on fund downgrade
Blackrock manager Sam Vecht has suffered a further blow as the frontier markets fund he manages with Emily Fletcher is downgraded, less than two weeks after an investment trust he co-manages revealed it is winding up.
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Woodford cancer treatment holding jumps 51%
Neil Woodford has seen his stake in an unquoted cancer treatment company jump $35.4m in his investment trust as it announces pricing on its initial public offering.
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Russia-heavy Blackrock trust to wind up
Large Russia exposure is being blamed for unexpectedly high shareholder interest in a tender offer in Blackrock Emerging Europe, which is now set to shut up shop.
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Lindsell Train bags £3m fees on bond benchmark
Lindsell Train has defended its use of a government bond benchmark for its eponymous investment trust as it rakes in £2.8m in performance fees.
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Trust bends to shareholder pressure to wind-down
The board of Ranger Direct Lending has agreed to close up shop and pursue a wind-down strategy but shareholders are still calling for fresh blood on the board at a pivotal moment for the company.
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Invesco blames chairman in investment trust spat
Invesco Perpetual fund managers Paul Read and Paul Causer have blamed the behaviour of Enhanced Income chairman Donald Adamson for their resignation from the mandate.
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Baillie Gifford silent on failure to disclose manager exit
Baillie Gifford has refused to comment on why it did not disclose the exit of a named fund manager on its US Growth trust less than a week after launch.