EDITOR ’ S LETTER
Issue 26 / February 2017
Pump up your investment trust returns
ISSUE 26
CREDITS
ALL CHANGE
What to do if your trust takes a new direction
HANDS OFF !
Why it pays to keep your pension invested
OPPORTUNITY KNOCKS
Discounts double on UK small caps
TRUSTNET MAGAZINE ( FORMERLY INVESTAZINE ) IS PUBLISHED BY THE TEAM BEHIND FE TRUSTNET IN SOHO , LONDON .
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W ITH THE FTSE 100 AND S & P 500 AT
CLOSE TO RECORD HIGHS , you may think this month ’ s cover story on super-sizing returns has come at an odd time – after all , even relatively inexperienced investors will tell you that buying in at the top of the market means you risk bearing the brunt of any correction .
However , the use of gearing and discounts also acts as an important barometer of investor and manager sentiment . And , as Adam Lewis finds out in this month ’ s sector focus , not all areas of the market are looking expensive – for example , the discount on the average AIC UK Smaller Companies trust has more than doubled over the past year .
Of course , just because something is trading on a wide discount this doesn ’ t necessarily make it undervalued and the reverse is also true – as I discover when trying to find an alternative to infrastructure trusts . In our final investment trust story of the issue , Emily Perryman offers advice on how to react to a change at the top of one of your holdings .
In our regular features , Nigel Thomas picks three stocks set to benefit from the greater focus on fiscal stimulus , Neil Shillito reveals why he decided to buy the Alquity Asia fund and John Blowers explains why it is better to avoid temptation and refrain from taking a tax-free lump sum from your pension when you reach 55 .
Enjoy reading ,
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