Numis Securities

SMALL CAPS

Fund management groups and analysts have warned new dividend rules for investment trusts could see shareholders lose out as portfolios become less tax efficient.

Broker Numis Securities has upgraded Hargreaves Lansdown from 'hold' to 'add' after the group reported a significant hike in profits in its annual results this morning.

RDR may provide boost to investment trusts but the sector still faces headwinds, warns Numis Securities.