From the basics of how investment trusts function to the intricacies of discounts, gearing, revenue reserves, corporate action, dealing spreads, and convertible unsecured loan stock, this book aims to explain it all, in three main sections. Part 1 covers the structure in detail; Part 2 identifies the players in the industry, from the trade association to managers, directors, stockbrokers and shareholders; and Part 3 discusses the practicalities of dealing, tax, analysis, and where to find the best information. To round it off, an extensive appendix provides an overview of all of the main events in the sector of the past 25 years, including the ‘its’ campaign, the split capital crisis, huge IPOs, the rise of alternative assets, the Woodford scandal, and the response to the Covid-19 pandemic. It’s all here. Andrew McHattie (MA Cantab) is the editor and publisher of Investment Trust Newsletter. He is a qualified financial adviser and runs his own firm in Bristol. He has previously written The Investor’s Guide to Warrants, Andrew McHattie on Covered Warrants, and was co-author of How to Invest in Sports Shares.

Investment Trusts: A Complete Guide PDF

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