It’s been a strong year for investment trust initial public offerings (IPOs), with 15 by the end of October amounting to £2.61bn, according to the Association of Investment Companies (AIC). These have been followed by a further two in the first half of November – M&G Credit Income Investment Trust (MGCI) and Gresham House Energy Storage Fund (GRID), which each raised £100m – and more are expected between now and the end of the year. But a key differentiator between what has been coming to market this year and many of the issues of the past decade is that a number of the launches have a growth rather than income focus, and invest in equities rather than high-yielding alternative assets.
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