Fundsmith Emerging Equities closure: 'Not everything he touches turns to gold'

Investment trusts being wound up is not uncommon and many would argue that it can be the right thing to do when a portfolio reaches the end of its useful life. Dzmitry Lipski, head of funds research at interactive investor, said: "Darwin has always been alive and well in the investment trust world, but investors should not necessarily see this as a bad thing. "Rather than a seeing a failing strategy linger on, independent boards of directors of investment trusts are there, in part, to help ensure there is still a market and purpose in a particular strategy. "It can be far better to...