Husselbee: No value in mainstream trusts

Generalist investment trusts failing to attract investors as macroeconomic headwinds grow.

North’s John Husselbee believes there is “no value” in traditional investment trusts at present as macroeconomic headwinds cause investors to worry about liquidity and groups shelve plans for closed-ended launches. Husselbee said income trusts in particular are overvalued as discounts tighten following growing demand from investors for dividends. The multi-manager said he is not surprised sentiment is poor and added investors are looking for liquid investments in an anaemic growth environment. “The macroeconomic headwinds such as the high oil price are making investors cautious, an...