“Talk of an existential crisis for the investment trust sector is not an overstatement, in 150 years of history and nearly 30 years of my career we have not witnessed a situation like this before. The industry needs to face into these challenges by making investment companies more attractive to investors.”
This is how Christian Pittard, head of investment trusts and managing director, corporate finance at abrdn, described the past seven days and 12 months of the investment trust sector, as it ends a major year of change. According to the Association of Investment Companies, there were a total of ten mergers between investment trusts, doubling the previous record set in 2021. Additionally, there were five liquidations, 32 mandates changed their fees and six investment trusts were acquired during 2024. Saba slammed for 'obvious flaw' in strategy to oust boards of seven investment trust...
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