An active year for trust boards

Woodford drama proves independent oversight is necessary

One of the undoubted advantages investment trusts have over OEICs is the oversight of an independent board of directors.

Very often, the directors are also significant investors in the fund, which ensures alignment of interests. In contrast, open-ended funds may be launched and promoted more in line with the marketing priorities of the management group. 2019: An appalling year for Woodford Things do change in the world of investment, and investment trust boards must assess the changing landscape, and, where appropriate, to react to it.  Woodford saga The past year has seen a higher level of board activity to address underperformance or other shareholder concerns, sparked in part by the gating of...