Trusts: 'Pure' investing or too complex?

"I love all my children equally" is how manager James Henderson recently described running both open-and closed-ended vehicles.

His quote was included in a blog by Nick Britton, head of training at the Association of Investment Companies (AIC), in which he compared the views of fund managers and advisers on investment trusts. According to the blog, managers like Henderson regard running investment trusts as a very 'pure' form of investing, without the constant worries about levels of inflows and outflows.  Britton writes that managers see a closed-ended fund as a "fairly straightforward tool that does a straightforward job". In contrast, many potential investment company buyers get caught up in what they perce...