I am writing to highlight a number of errors in your article 'Investment trusts of pooled P2P loans ‘lack regulation’' of (FA, 16 February).
Investment trusts do not "lack regulation". Investment trusts are regulated by company law, the UK listing rules, the AIFM Directive, the transparency rules and a whole range of other legislation which provides a comprehensive and robust regulatory system to inform and protect investors.
The article then states that “The AIC said last week it had concerns about the investment approaches of four companies that pool P2P loans”. The AIC has never stated this. In the online version it was correctly stated: “The Association of Investment Companies (AIC) this week held a media event to highlight the investment approaches of four companies that pool P2P loans”.
In addition, the article referred to P2P Global Investments as a unit trust, but it is, in fact, an investment trust.
Annabel Brodie-Smith
Communications Director
Association of Investment Companies
