This piece looks at how 76 trusts that joined the market over the last decade have fared in terms of shareholder returns. While a handful have performed well and produced annualised returns of more than 10%, around two dozen have generated negative returns since their IPOs, while 16 others have already been delisted, primarily because they were acquired after a period of lacklustre figures.

In my recent article on how the number of investment trusts has declined in the last four years, I listed the number of new issues we have had over the same period. There were only five of them, so it didn...