The data regularly produced by the Association of Investment Companies (AIC) clearly shows a sustained increase in demand for investment trusts via platforms.

This is positive but the total numbers for investment trusts are still a long way away from their open ended cousins.

Investment trusts have a distinct structure which is different to open ended investment companies (Oeics).

The key difference between an investment trust and an Oeic is that an investment trust is a company listed on a stock exchange.

In order to access an investment trust an investor needs to buy or sell the shares of the company on the stock market.

In contrast when an investor invests in an open-ended fund, the fund management company creates or redeems units in the fund.

This guide will examine the main features of an investment trust; risks unique to this product; what type of investor may find this vehicle suitable; and the impact of the Retail Distribution Review on take-up.

Contributors of content to this guide are; Tim Mitchell, head of investment trust sales at JP Morgan Asset Management; Ian Sayers, chief executive of the Association of Investment Companies; Robin Stoakley, managing director for UK intermediary at Schroders; and James Budden, director at Baillie Gifford.

This guide is sponsored by Baillie Gifford. All editorial is independent.