An investment trust is a form of collective investment found mostly in the United Kingdom. Investment trusts are closed-end funds and are constituted as public limited companies.
The name is somewhat misleading, given that (according to law) an investment "trust" is not in fact a "trust" in the legal sense at all, but a separate legal person or a company. This matters for the fiduciary duties owed by the trustees and the equitable ownership of the fund's assets.
Read more about Investment Trust: Organization, History, Split Capital Investment Trusts, Real Estate Investment Trusts, Taxation
Famous quotes containing the words investment and/or trust:
“There is something fascinating about science. One gets such wholesale returns of conjecture out of such a trifling investment of fact.”
—Mark Twain [Samuel Langhorne Clemens] (1835–1910)
“To place absolute trust on another human being is in itself a disaster, both ways, since each human being is a ship that must sail its own course, even if it go in company with another ship.”
—D.H. (David Herbert)