Activists spy rich pickings in UK investment trusts

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The UK investment trust sector is in trouble. Talk of an existential crisis is not an overstatement. Rather like ETFs, closed-end investment funds invest in other companies. But unlike ETFs, they have a fixed number of shares, which means that their share prices are more likely to diverge from their net asset values. That’s what is happening now. Many investment funds’..