For the first time in the history of the FTSE 100, the index features four investment trusts: Scottish Mortgage, 3i, Pershing Square Holdings and F&C.
Launched in 1868, F&C is the world's oldest trust and was recently added to the index in the latest Quarterly Review, the same shakeup which saw Edinburgh-based abrdn ousted from the blue-chip market. All four trusts can count themselves as heavyweights of the closed-ended space, for different reasons. While F&C holds heritage, IT Global peer Scottish Mortgage is the biggest investment trust to date at £15.1bn, with 3i Group not far behind it, running £14.7bn in AUM, according to data from the Association of Investment Companies. Finally, Pershing Square Holdings is the flagship pr...
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