Each week, a professional investor tells us where he’d put his money. This week: Nick Greenwood of Miton Global Opportunities.
Investment trusts were traditionally the preserve of private client stockbrokers. These have now largely been absorbed by major wealth-management chains, who manage greater sums of money. Large wealth managers can only invest in the very biggest investment trusts, where they can find enough shares to satisfy all their clients. Smaller and medium-sized funds now have fewer natural buyers, so share prices can fall even though underlying assets are performing well. The shares of investment trusts can [...]