Investment Trusts

Saltus Partners' multi-manager Dan Kemp is finding compelling value in listed alternative investment trusts and is looking to profit from the sector's deep discounts.

Henderson Global Investors is aiming to raise up to £150m with the launch of its latest product, a global equity income investment trust.

Alastair Smith, managing partner of Frostrow Capital, discusses whether investment trust consolidations, mergers and wind ups seen in 2010 will continue this year.

Laxey Partners has sent out a letter to Alliance Trust shareholders arguing for the introduction of share buybacks if the trust's discount to net asset value exceeds 10%.

High profile investment trust managers including Fidelity's Anthony Bolton and Jupiter's Alex Darwall are injecting huge amounts of personal capital into their own vehicles, according to research by broker Collins Stewart.

INVESTMENT TRUSTS

Kotak Mahindra is launching an Indian infrastructure investment trust in a bid to benefit from the $1trn the Indian government has pledged to spend in the sector within the next few years.

Discounts across the entire investment trust universe narrowed significantly last year from an average 11.6% to 9.2% on the back of equity markets strengthening, according to research from Oriel Securities.

Global real estate investment trusts trading on huge discounts are offering value but liquidity remains low, said the managers of First State's Global Property Securities fund.

Sentiment towards out-of-favour Japan is beginning to turn, with the market rising 11% since October, said Sarah Whitley, manager of the £168m Baillie Gifford Japan trust.