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...She added: “This is where the disquiet comes in for trustees — and their advisers too.”...
...Mark Cliff, chair of trustees for the Debenhams Retirement Scheme, said: “We are confident that transferring members’ benefits to Clara provides the best available outcome for them.”...
...Nick Allaway, a former accountant and trustee of the charity, said he had to call on industry contacts to get the account reopened in January....
...longtime former partners of the hedge fund and which owned a small stake in the club before the sale....
...The way the FCA interprets these pieces of legislation compels investment trusts to report their costs in the same format as open-ended funds....
...The discount, which stands at an industry average of 9 per cent to net asset value, has put some investment trusts on the brink of being wound up or targeted by hedge funds including Paul Singer’s Elliott...
...in the industry....
...“The bigger funds are more nimble and can act quickly,” said Chris Roberts, managing director at Dalriada Trustees, a firm of professional trustees....
...But she told the Financial Times she would have “cause for concern” if ministers were to go a step further and direct trustees as to where funds should be allocated....
...“I am not sure that it is the role of the government to tell trustees where they place their money,” said Armitt....
...Purchases totalled £948mn last year, down 28 per cent from 2022’s record high of £1.3bn, according to data from the Association of Investment Companies, a trust industry body....
...Some of the sector’s problems are common to the wider investment trust industry. Higher interest rates have increased the allure of other lower-risk asset classes....
...Alliance Trust earlier this month said it was ditching Jupiter as one of its fund managers, because of Whitmore’s departure from the business....
...Unfairly so, in the view of the industry and some parliamentarians. The rules require funds of funds to report the internal expenses of investment trusts they own on a look-through basis....
...Employers’ access to billions of pounds of surpluses in UK company pension funds would be eased under proposals set out by the government on Friday....
...That appears to be the essence of what we are witnessing. I’ll go with finance principles over the legend and lore of investing. More endowment trustees and CIOs should do the same....
...At a meeting held last month, the firm proposed to its board of trustees for Pimco Funds that it consider converting its $141mn Mortgage-Backed Securities Fund from a mutual fund into an ETF, the filing...
...Pension funds in the UK have about £88bn ($111bn) invested in the fossil fuel industry — nearly a quarter of which is through bonds — according to the responsible investing campaign Make My Money Matter....
...Trusts can be set up in a number of ways, including through outright gifting, but also on the back of a will....
...Its £1bn investment trust also had a tough 2023, with the trust’s managers noting that last year was “the worst in the history of Ruffer Investment Company”....
...Meanwhile, SinoPac Securities Investment Trust, a mid-size local firm, recorded the highest growth in ETF management fee income among the top 10 fund houses, with a rise of 38 per cent to NT$59mn in 2023...
...Investment trusts make up 27 per cent of the companies in the FTSE 350 index....
...According to Jefferies, this is the largest ever buyback programme by a UK investment trust, with £1bn representing 9 per cent of the Scottish Mortgage Investment Trust’s shares....
...with legal proceedings over its alleged role in forest fires that burnt hundreds of thousands of acres and led to deaths in the US Pacific Northwest....
...The law firm that brought this current lawsuit has a cottage-industry practice of challenging life settlements all over the United States, including some in which the FCI funds or their subsidiaries are...
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