Ten investment trusts have launched this year so far compared to just four in the whole of 2009, according to the Association of Investment Companies.
The AIC says it has been a “bumper year so far” with launches targeting nine different investment areas, mainly within emerging markets and specialist sectors.
New funds include Fidelity’s China special situations fund which raised £460m, Aberdeen Latin American income which raised £52m and JP Morgan global emerging markets income which raised £104m.
So far in 2010 there have also been 6 management group changes as investment trust boards continued to hire and fire investment teams, the AIC says.
These included the sacking of F&C from the management of the European investment trust in favour of Edinburgh Partners, the trade body says.
There were also three investment policy changes on funds including a change at the Murray income fund to allow 20 per cent of the trust to be invested in overseas companies.
Ian Sayers, director general of the AIC, says: “Activity in the investment company sector has most definitely picked up in 2010 in comparison with 2009.
“After a few difficult few years, boards have been working to ensure that their companies remain as relevant as possible in current market conditions and that they are run by the best managers.”