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AITC aids members on discount control

The Association of Investment Trust Companies is offering IFAs training to help them understand discount control mechanisms after a rash of corporate activity in the sector last year.

Around 60 per cent of the AITC’s members have introduced discount control mechanisms to ward off arbitrageurs, with the majority doing so over the last 12 months. The aim of the training course is to help IFAs understand how discount control mechanisms work and the possible income tax implications of a tender offer.

Training manager Jackie Lockie says such activity will be increasingly common this year and her aim is to make sure advisers are prepared. The first course will take place on March 8, with spaces for up to 15 IFAs.

The AITC has been running two other training courses which are an introduction to investment trusts and a course on understanding gearing. Over 400 IFAs have taken the courses.

Jamieson financial management principal Bruce Jamieson says: “I think there are very few IFAs who know anything about investment trusts because it is very difficult to extract commission. Training could help IFAs better understand the benefits.”

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