Exploring the world of investment trusts
My personal views on what’s happening in the wacky world of investment trusts…
QQQ is the ticker for the most popular Nasdaq 100 ETF in the US. With $135bn in assets, it’s about five times the size of Fundsmith Equity, the UK’s largest fund. And it’s beaten pretty much every single UK investment trust and open-ended fund over the last decade.
The various investment trusts and funds run by Baillie Gifford are dominating the performance charts this year. It’s no flash in the pan, though, as their long-term record is arguably even more impressive.
Our house is being battered by a thunderstorm as I write this. Owning a UK smaller company investment trust in 2020 has felt very similar. But storms pass.
After a year of procrastination, I’ve finally taken the plunge and bought into the biotech and healthcare sector.
Smithson’s shares are up more than 50% since it floated in October 2018 and its share count has risen 52%. It’s now approaching £2bn in market cap and it’s already become one of the 20 largest UK investment trusts.
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