Generalists dominate trust sales

Fund sales figures of investment trusts are even more difficult to come by than for open-ended funds. For unit trusts and Oeics, the figures are known, but fund groups generally decide not to reveal them. But with investment trusts, there is no foolproof way of gathering figures for sales since as shares they are traded between numerous different parties.

One way round the problem is to look at the favourite holdings among private investors in the Alliance Trust and Second Alliance Trust savings schemes. Such an approach has the disadvantage of excluding the Alliance trusts themselves from the figures. However, as far as it is possible to tell, it probably gives a reasonable approximation for the popularity of different trusts.

>From these figures, it is clear that the big international generalist trusts – which include to top four funds – are generally the favourites among investors. Temple Bar, a diversified UK trust, and Fidelity European Values are the largest