Strategy

Rebel Rebel

These investment trusts don't fit into the usual boxes, which is exactly what makes them worthy of closer attention...
William Heathcoat Amory
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Updated 09 May 2019
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Disclosure – Non-substantive Research

This is not substantive investment research or a research recommendation, as it does not constitute substantive research or analysis. With this commentary, Kepler Partners LLP does not intend to influence your investment firm's behaviour. 

There are more than 26,000 investment funds available to UK investors today yet the average UK investor has just six funds of any kind in their investment portfolio.

Clearly, then, investors must be filtering out a lot of potential investments before they make a decision, and an obvious way to do this is by choosing an appropriate sector - but here too, there is a somewhat daunting range to choose from. The AIC announced yesterday an “overhaul” of its sectors, in order that they are as “clear and helpful as possible” for investors, and there are now more than fifty of them to choose from.

This presents a problem. Filtering funds by sector helps see the wood for the trees, which is essential given the great 'taiga' we face as investors seeking one tree among 26,000. But it also means many investors routinely overlook great funds just because they sit in the 'wrong sector'. The only way to really work out where these trusts are is hard graft - real analysis at a fund level.

The good news is that, for investors who have the time to search for them, trusts like this often trade on a wider discount than might otherwise be the case, and here lies the opportunity. The even better news is that we've done the legwork to find eight of them, so you don't have to.

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About the Author

William Heathcoat Amory
[email protected]
William Heathcoat Amory is a co-founding partner of Kepler Partners LLP and leads the Kepler investment trust research team. William has over 20 years of experience as an investment company analyst. Prior to co-founding Kepler Partners in 2008, he was part of the Extel number 1 rated research team at JPMorgan Cazenove.

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