Investment trust launches raise over £1 billion in assets, says AIC

The 10 investment trusts which have launched since the start of the year have raised a total of £1.16 billion, according to the Association of Investment companies (AIC).

The number of launches so far this year is already more than double than for the whole of 2009.

This year’s launches to date have been in nine different areas, with a focus on emerging markets and specialist sectors. Launches include one Brazil trust, as well as more specialist sectors such as biotechnology and infrastructure. (article continues below)

In comparison, over the whole of last year, groups launched only four investment trusts, raising a total of £568m. 

So far, there have been six management group changes this year and three investment companies have secured shareholder approval to adjust their remit.