The investment fairground - Investment Trust of the Year Review

For investment trusts, 2009 has not been without its excitement. Volatile discounts have made life very difficult; the flight to quality was swiftly followed by the dash to trash as investors switched to more exotic investments

It is difficult to find a word to describe what an emotional roller coaster 2009 has been. From the depths of despair in March to the dizzy heights of mid November, the FTSE All Share has bounced by 52%, and is on course to produce its best calendar year return since 1993. To what extent this recovery has been induced by QE will only become clear when the tap is turned off. For investment trusts, 2009 has not been without its excitement. Volatile discounts have made life very difficult for trusts; the so called flight to quality in Q1 was swiftly followed by the dash to trash in Q2 as in...