Which trusts manoeuvred during 2020 and which stood their ground?

Turnover in focus during pandemic

Several investment trusts overhauled their portfolios during the market volatility of 2020 as managers chose to revamp their holdings and take advantage of depressed markets.

However, other managers saw this strategy as counter-productive and stuck to their guns.  Figures from Morningstar, collated by the Association of Investment Companies for Investment Week, revealed the investment trusts with the highest and lowest turnover ratio, with the highest at 309% and the lowest at 0.3%. Covid-19 winners and losers: Don't throw the baby out with the bath water Turnover ratio is a measure of the trust's trading activity, which is calculated by taking the lesser of purchases or sales and dividing by average monthly net assets. A turnover of more than 100% i...