Despite recent calls for investment trusts to be included on fund selectors' buy lists in light of the suspension of the open-ended Woodford Equity Income fund, 7IM's Peter Sleep has warned against the move.
The Woodford Equity Income fund was suspended on 3 June on the back of poor performance prompting redemptions that were becoming difficult to meet due to the fund's large alloaction to illiquid assets. As such, there have been calls for closed-ended trusts - which are easier to sell out of on the market - to be included on fund best buy lists. Treasury Committee would 'support' further regulation of fund buy lists However, senior investment manager Sleep has cautioned the closed-ended nature of investment trusts means they could be ill-equiped to cope with the wall of money the pub...
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