Nine investment trusts the professionals are backing

Undervalued investment trusts are a popular choice for many funds that specialise in investing in other funds. Here, three managers pick three of their favourite trusts for the coming year

Alistair-Lang

Capital Gearing Trust (CGT) is both poacher and gamekeeper: it is an investment trust that invests in other investment trusts. Wheels within wheels? Possibly, but with good reason: investment trusts have proved to be a fertile hunting ground, allowing access to a huge range of asset classes and talented fund managers. CGT has delivered roughly 15% compound annual returns since 1982, a track record that pays testament to the opportunities available in this much-overlooked corner of the investment universe.

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