Throgmorton trust changes name in retail push

Richard Plackett’s £305.6m Throgmorton investment trust has been rebranded as BlackRock attempts to attract more retail investors to the product.

The trust is now called the BlackRock Throgmorton trust, which head of investment trusts Simon White said would help the trust benefit from BlackRock’s “existing presence and reach with retail investors”.

“Since the implementation of the RDR, we have seen a rise in the popularity of trusts as investment vehicles, particularly among self-directed investors,” Mr White added.

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The trust, which Mr Plackett manages alongside co-manager Mike Prentis, invests in small companies through a conventional ‘long-only’ portfolio and a ‘contracts for difference’ portfolio, whcih can make up to 30 per cent of total assets.

In the 12 months to November 29 the trust’s share price rose 52 per cent on a total return basis, BlackRock said.