Do investment trusts still have a place in your portfolio?

Nick Greenwood Fund manager, MAM Funds     There are far more investment trusts around than there used to be, this is a direct result of the move from closet tracking. A decade ago the industry measured risk in terms of how closely a portfolio was aligned with an index. The near halving of equity markets during the early noughties and again in 2008 made it crystal clear that indices were dangerous places to reside and encouraged managers to broaden their horizons and embrace a wider range of asset classes. Once investors shifted away from the most liquid mega caps, inflows an...