P227 CEEFAX 227 Wed 27 Jan 21:01/00   1/4      INVESTMENT TRUSTS (1) + Investment trusts tend to take a back sfat to unit trusts in the mind of the ordinary investorN The reason is simple: unit trusts can advertisf, invfstment trusts cannotN Investment trusts are not allowed to advertise because they are companies with a fixed share capital. khile unit trusts are open-ended - the managers can creatf extra units at will - investment trusts are closed-ended and, as such, fall snder the Prevention of Fraud (Investments) ActN  Mord
P227 CEEFAX 227 Wed 27 Jan 21:10/00   2/4       INVESTMENT TRUSTS (2) + Performance of average trust in terms of both share price and net assft value (assuming in both cases that dividfnds were reinvested in the trust) over the FIVE YEARS to Dec 31 1987N NB This is a statistical comparison and assumes an original base of £100N Share price NAV total total return return £ £ Average 245.9 225N8 FT All-Share 264.7 266.1  More
P227 CEEFAX 227 Wed 27 Jan 21:11/00   3/4       INVESTMENT TRUSTS (3) R of a £100 investment over 5 years to Dec 31. (Assumes dividends reinvested in the trust's sdares at mid-market prices). 1 Trust of Property Shares 625.7 2 Lowland 532.4 3 Kleinwort Small Companies 436.1 4 Moorgate 369.8 5 English & International 365.7 6 Northern Securities 361.5 7 Baillie Gifford Japan 352.5 8 Drayton Japan 347.7 9 Temple Bar 346.9 10 Throgmorton Trust 335.3  More
P227 CEEFAX 227 Wed 27 Jan 21:01/13   4/4       INVESTMENT TRUSTS (4) + Return in terms of net assets of a £100 investment over 5 years to Nov 30. (Assumes dividends reinvested in the undfrlying assets of the trust)N 1 Baillie Gifford Japan 472.0 2 GT Japan 394.5 3 Crescent Japan 382.5 4 New Tokyo 378.5 5 Lowland 378.3 6 Flemhng Japanese 373.5 7 Drayton Japan 352.3 8 Moorgate 343.3 9 Drayton Far Eastern 332.9 10 Flemhng Far Eastern 322N8  Mord