'Bargains everywhere' in investment trusts
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There are so many bargains in the investment trust market that it is like being a child in a chocolate shop, says Iimia chief investment officer Nick Greenwood.
He believes the current market for investment trusts is promising, with discounts widening so much it is time for investors to go shopping for bargains. He says discounts are at their widest since Black Monday in 1987, having hit an average of 18.7 per cent at the beginning of October.
Greenwood says the potential is especially strong in some of the genuine stockpicking investment trusts which are more selective, giving Jupiter European as an example.
Iimia is a new fund manager launched at the end of April, although it has yet to bring any products to market. It is expected to launch its first fund this year - a fund of investment trusts.
Greenwood says: "I am not a natural bull but I am beginning to feel very bullish. I can see bargains everywhere."
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