A study by a retail stockbroker found that of those freed to invest their pensions directly for the first time, four fifths put their money into trusts and funds rather than choosing individual equities. It is the safest course, even if the upside may be limited, and part of this column will be devoted each week to this often-overlooked area.
Investment trusts that stand out as offering good long-term value will be highlighted. Don’t expect fireworks, but the ability to spread money across several investments has understandable attractions.
The first is Invesco Perpetual’s Perpetual Income and Growth Investment Trust — Pigit to its friends — which a decade ago unsuccessfully launched one of the few hostile takeovers in the investment fund sector, for Securities Trust