Buy a range of bargain investment trusts with this one fund

The Miton Global Opportunities Trust seeks out overlooked investment-trust gems, saving you the work.

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Phoenix Spree Deutschland’s flats for rent in Berlin are dull but dependable assets
(Image credit: © iStockphotos)

Investment trusts trade on an average discount to net asset value (NAV) of just 2.3%, but there are many trusts on much higher discounts. Most of these are small, specialised funds focusing on niches that were once popular but are now being ignored as a result of disappointing performance, poor management or the sector becoming unfashionable.

Some of these will perform well and return to favour, thereby giving investors the double-whammy of strong investment returns and a re-rating of the trust. Others will languish, with investors fruitlessly hoping that something will turn up. How should you distinguish between the winners and the duds?

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Max King
Investment Writer

Max has an Economics degree from the University of Cambridge and is a chartered accountant. He worked at Investec Asset Management for 12 years, managing multi-asset funds investing in internally and externally managed funds, including investment trusts. This included a fund of investment trusts which grew to £120m+. Max has managed ten investment trusts (winning many awards) and sat on the boards of three trusts – two directorships are still active.

After 39 years in financial services, including 30 as a professional fund manager, Max took semi-retirement in 2017. Max has been a MoneyWeek columnist since 2016 writing about investment funds and more generally on markets online, plus occasional opinion pieces. He also writes for the Investment Trust Handbook each year and has contributed to The Daily Telegraph and other publications. See here for details of current investments held by Max.