Fiona Hamilton

Which investment trusts make it into the brokers’ 2019 model portfolios?

Around 80% of fund managers surveyed by the Association of Investment Companies (AIC) started 2019 predicting that stockmarkets would rise this year.  More than a third forecast gains of more than 11.5%, with the  US and UK stockmarkets expected to be the most rewarding.

The AIC findings would be more encouraging if the fund managers had not been far too optimistic about 2018, with 69% expecting stockmarkets to rise and almost 80% predicting that the FTSE 100 would finish above 7,500, whereas in practice it fell to 6,728.

British Empire a benchmark beater once again

British Empire Trust (BTEM) targets capital growth through a portfolio of mainly listed investments, particularly in ­firms whose shares stand at a discount to estimated net asset value (NAV). Its annual report for the year to 30 September 2018 shows assets of £942 million.