Sector focus |
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SIPPs |
| With the rules on self-invested pension plans being tightened, some investment trusts are keen to attract investors still wanting to put cash into property, unquoted companies or gold. |
Trust focus |
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Alliance/Second Alliance |
| The two Dundee-based trusts have finally decided it would be a good idea to merge after sharing offices, management teams and strategy for many years. This deal makes sense and although it has been criticised as expensive it should ultimately leave shareholders on both sides better off, says Rodney Hobson. |
Sector focus |
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Outlook for UK Growth & Income Trusts |
| The UK growth and income investment trust sector has had a pretty good run over the last three years and while fund managers remain broadly confident about the outlook, they are looking to manage expectations down a little. Kam Patel reports. |
Trust focus |
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Fidelity |
| Despite the past strong showing of a number of Asian stockmarkets, John Lo, the manager of Fidelity's Asian fund beliefs there are still 'an overwhelming number of untapped investment opportunities to be found', says Rodney Hobson. |
Trust focus |
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JP Morgan Fleming Overseas |
| The fund has sharpened its focus with promising results and now it proposes to buy in half its shares at a 3.5% discount to net asset value. The aim is to maintain an average discount of 5%, reports Rodney Hobson. |
Sector focus |
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ISA sales |
| Sales of investment trust ISAs picked up in the final quarter but savings scheme sales were more subdued. |
Sector focus |
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ISA offers |
| More than half the members of the Association of Investment Trust Companies are offering special ISA deals as the deadline of April 5th for the end of the current financial year draws nearer. |
Trust focus |
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Henderson TR Pacific |
| The first effects of the change in manager and policy late last year are already showing through with the company saving its best month of 2005 to the last. The first investment in India has been made and management charges will be partly based on performance, says Rodney Hobson. |
Sector focus |
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AITC roadshows |
| The Association of Investment Trust Companies is organising a series of free road shows around the country to give private investors the chance to question investment trust experts, says Rodney Hobson. |
Trust focus |
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JP Morgan Fleming Elect |
| This fund has a novel umbrella structure with growth, income and cash share classes, allowing investors to alter their investment profile without triggering a taxable event. Kam Patel considers its merits. |
Sector focus |
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2005 |
| The investment trust sector has put behind it the nightmare of three years ago and has enjoyed a successful year with share price gains, tighter discounts and more cash being raised, figures from WINS Investment Trust Research show, says Rodney Hobson. |
Trust focus |
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Scottish IT |
| Shareholders will have the opportunity to cash in up to 40% of their holdings for a better price than they can get on the stockmarket but with the trust's performance improving they face a difficult choice, says Rodney Hobson. |
Sector focus |
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2006 forecasts |
| Fund managers are generally optimist about next year and they believe that finance stocks will lead the way upwards. Overseas, prospects are seen as best in Japan, says Rodney Hobson. |
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Henderson Strata |
| This trust has realigned its portfolio to concentrate on tiny quoted UK companies and it has had a successful year, particularly in the second half. The shares are underpinned by a buyback programme whenever the discount to net asset value exceeds 8%, says Rodney Hobson. |
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Henderson TR Pacific |
| The new broom has swept clean at one of the largest investment trusts specialising in the Asia-Pacific region and the portfolio has a completely new look, says Rodney Hobson. |
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Investment Trust TERs fall |
| None of us like paying charges but unfortunately in the investment and banking world they are as certain as, to borrow Mark Twain wry observation, death and taxes. There is some cause for cheer though with latest figures showing investment trusts on average actually managing to bring down their charges. Kam Patel reports. |
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Scottish Mortgage |
| This is one of the largest global growth funds but it has changed its strategy to concentrate on fewer stocks and to worry less about geographic balance, says Rodney Hobson. |
Sector focus |
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Bonds plea goes to Brown again |
| Having failed to get its Christmas wish last year, the Association of Investment Trust Companies is renewing its appeal for a level playing field for investment trusts to hold bonds, says Rodney Hobson. |
Sector focus |
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Trusts boosted by takeover targets |
| Six investment trusts have major stakes in mobile phones group O2 or ports and ferries operator P&O, research by the Association of Investment Trust companies. O2 agreed to be taken over by Telefonica of Spain while P&O has received an approach. Rodney Hobson reports. |
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ML British Smaller Companies |
| With its emphasis on stock picking, this small companies fund trades at a discount in the mid-teens and is benefiting from exposure to certain, well placed sectors. Recent performance has been good and efforts are being made to market the fund to private clients. Kam Patel reports. |
Sector focus |
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REITs update |
| Issues regarding the introduction of real estate investment trusts have still to be resolved, the Association of Investment Trust Companies says in response to queries from Hemscott readers. |
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Caledonia Investment |
| The investment trust, a member of our Hemscott Analyst virtual portfolio, has done rather well with its backing for oil and gas explorer Paladin Resources, says Rodney Hobson. |
Sector focus |
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Talking Turkey |
| Let's talk Turkey. The European Union is doing, and several investments trusts have been giving the country some attention as well. Fund managers reckon the EU talks can only do good for the economy of a nation that is stranded between two continents, says Rodney Hobson. |
Trust focus |
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Impax Environmental Markets |
| High oil prices and stiffening environmental legislation worldwide has led to renewed interest in 'green' investments. Impax Environmental looks well worth considering by investors looking for exposure via a trust to sectors such as alternative energy, waste technologies and water treatment and pollution control, says Kam Patel. |
Trust focus |
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Edinburgh Small Companies |
| The performance of this fund has picked up over the past 12 months with net assets up and the discount down. The fund looks a lot more attractive today than it did when we last reported on it two years ago, says Rodney Hobson. |
Sector focus |
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Sell in May |
| The old adage has proved bad advice for the second time in two years, as investors returrning after St Leger Day will discover, says Rodney Hobson. |
Trust focus |
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Scottish American (SAINTS) |
| Following a long period of underperformance, this global income fund switched manager and has been putting its house in order and reviving its fortunes. The fund's yield is relatively modest but the outlook is very good. Kam Patel reports. |
Sector focus |
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Trusts outperform, discounts narrow |
| A strong performance from investment trusts is reported by the AITC, with the average trust outperforming the stockmarket and discounts narrowing, says Rodney Hobson.. |
Sector focus |
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ISA and savings scheme sales |
| Sales of investment trust ISAs and savings schemes have fallen back again despite the pick-up in investment trust values along with the rest of the market, says Rodney Hobson. |
Sector focus |
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Dated shares and dividends |
| The government has agreed to take action to avert a change in accounting rules that would have prevented a number of investment trusts, mainly split capital ones, from paying dividends, says Rodney Hobson. |
Trust focus |
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Henderson Smaller Companies |
| This fund has put in sterling performance since a major management shakeout in 2002. With its holistic approach to picking stocks, it looks very well placed to safely navigate any slowdown in small cap sector earnings. Kam Patel reports. |
Trust focus |
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Henderson TR Pacific stays cautious |
| The trust has moved to overweight in the technology sector and raised its exposure to Taiwan as it continues to respond more promptly to changing situations. The net asset value has improved, gearing has been eliminated and the discount should come down. With Asia leading global growth, this trust could prove attractive, says Rodney Hobson. |
Trust focus |
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Aberforth is a big fish in small pools |
| This is the largest investment trust investing in only small cap companies and it trades on a smaller discount than its peers. It could be a good investment for the long term. Rodney Hobson reports. |
Sector focus |
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Trust managers upbeat as discounts narrow |
| Recent economic data suggests the UK is slowing down yet shares are doing very well and have continued to rise. At the same time trust discounts have been narrowing and recently hit a nine-year low and trust managers are confident the stock market recovery will continue. Kam Patel reports. |
Trust focus |
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Schroder UK Mid & Small Cap Fund |
| With its emphasis on stock picking, this fund boasts a healthy performance record since being taken over by Schroder in 2003. It is quite small but at a discount of 10% it is worth considering by investors looking for exposure to an astute looking mix of small and medium UK companies. Kam Patel reports. |
Trust focus |
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British Assets picks up |
| This global income growth trust, which aims to have around three-quarters of its investments in the UK, has recovered well from the bottom of the bear market but the shares are still on quite a heavy discount and previous poor performances have not been entirely forgotten, says Rodney Hobson. |
Trust focus |
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Polar sees an end to the big freeze |
| The technology upturn is coming - but perhaps not just yet, and there will not be another bubble. Respected fund manager Brian Ashford-Russell says the signs point to a bottoming of the techonolgy bear market and a possible upturn in 2006-7. By Rodney Hobson. |
Sector focus |
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Outlook for Global Emerging Markets |
| With the outlook for the US uncertain and Europe continuing to stagnate, investors might want to consider channelling some of their funds to fast growing emerging markets. They are not for the faint hearted but the recent track record of trusts specialising in these markets provides reassurance. |
Sector focus |
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AITC calls for tax flexibility on REITs |
| Tax is the single most important issue that remains to be resolved before real estate investment trusts can be launched in the UK, according to the Association of Investment Trust Companies. |
Trust focus |
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Gartmore Growth Opportunities Fund |
| With a focus on UK smaller companies, Gartmore Growth has a pretty good long term track record and yet the fund has faced a struggle for survival in recent years. Changes in investment policy and structure of the fund, however, are helping to trigger a revival in its fortunes. Kam Patel reports. |
