Trusts under new management
Jun 11, 2021
3 minutes
When Queen Victoria told her prime minister, Lord Salisbury, that the people were crying out for change, he is reputed to have replied: “Change, your majesty? Aren’t things bad enough already?” Change is not always for the better, so when directors of investment trusts change their investment manager, it doesn’t necessarily work out well.
After persistently poor performance or the departure of the nominated fund manager, the directors simply used to ask the management company to come up with a new
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