Why aren Investment Trust prices reported in the Managed Funds pages of the FT alongside Unit Trusts?
Investment Trusts and Unit Trusts both invest money in other companies, but their ownership structure is very different. Investment Trusts are companies which issue shares, and daily prices are listed on the main share prices page under their own category. Unit Trusts are real “trusts” and they issue units rather than shares – the price of units is determined by a formula based on the net asset value of the fund’s assets, which makes them a completely different beast. As such, they get their own pages in the FT.
