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AITC warns advertising campaign may be cut short

The three year television and press advertising campaign to promote investment trusts may be terminated a year early unless it receives wider industry support, the Association of Investment Trust Companies has warned.

AITC director general Daniel Godfrey claims it wouldn&#39t be worth continuing the campaign unless more trusts participated in the third and final year.

This year AITC raised £8 million from 170 of its 300 investment trust members, down from £16 million in the first year.

Next year the levy on trusts will reduce the marketing budget to only £4 million.

Godfrey says “Either we all carry on together or we stop together. If more trusts agree to support the campaign we could consider extending it beyond three years.”

However, persuading the trusts to support the campaign maybe difficult as some, such as the Alliance Trust, have refused to support the initiative because they believe the costs are too high.

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