- A number of investment trusts are winding up due to discounts
- Selling unlisted assets is less than straightforward
Packing up the house always takes longer than you think. For investment trusts that have started the winding-up process, clearing the portfolio can be long and complicated, especially when illiquid assets need to be offloaded.
Earlier this month, beleaguered infrastructure trust Digital 9 Infrastructure (DGI9), which is in the process of winding down, appointed InfraRed Capital Partners as its new manager, raising eyebrows among commentators. The manager will receive a fixed fee for the first three years of this period. James Carthew, head of investment company research at QuotedData, said that the fee structure implies that selling the assets could take that long.