Smithson, the brain child of Terry Smith, will make its stock market debut at the end of next week. The trust will soon be joined by four other new investment trust launches.
Europe equity funds experienced net retail outflows of £303 million, while investors pulled £429 million out of UK funds in August.
Smithson, the brain child of veteran investor Terry Smith, has increased the amount of shares available to investors before the trust’s launch.
A total of £227 billion has been gifted, at an average of £32,920, in a bid to save on inheritance tax, according to research.
With Budget 2018 a couple of weeks away, rumours are swirling that chancellor Philip Hammond will cut higher-rate pension tax relief to help fund the NHS.
The proposed new measures aim to avoid runs on funds holding illiquid assets.
The Global Sustainability Trust is part of a growing trend of investment trusts tapping into unlisted stocks.
A China trust was snapped up by investors looking for a bargain, while Woodford Patient Capital saw renewed investor interest.
The Financial Conduct Authority has finalised new rules on final salary pension transfers.
Old Mutual Global Investors (OMGI) has officially renamed itself Merian Global Investors, following its split from Old Mutual late last year.
Halifax cuts monthly cash reward payment, while other big brands have revised switching deals over the past six months.