The most-searched-for investment trust last year on the Association of Investment Companies website (a good source of data for retail investors, by the way) was City of London Investment Trust.
This £2 billion FTSE 250 company bagged the top spot for the second year running. Its 57-year record of raising dividends every year seems to have been catnip for investors seeking reliable and rising income in these inflationary times.
City of London is rare today in trading at a small premium to net assets. Most investment trusts have dived to wide discounts as appetite for active equity investing in general, and anything UK-related in particular, has dwindled. Even once-well-respected rivals like Finsbury Growth & Income and Edinburgh Investment Trust now languish at discounts, of
