Investment Trusts Explained: Your Guide to Successful Investing in Closed Ended Funds

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Mick Gilligan

Investment Trusts Explained

Name: Investment Trusts Explained
Price: 67.99 AUD
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ISBN: 9781804091272

Your Guide to Successful Investing in Closed Ended Funds

Mick Gilligan

$67.99

Paperback

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English

Harriman House Publishing
30 September 2025

Online finance & investing

Investment trusts are an innovative and accessible investment vehicle, and they hold a long and successful performance history.

And yet they are often referred to as a ""best-kept secret.""

In Investment Trusts Explained, Mick Gilligan, renowned expert on investment trusts and partner at Killik & Co, seeks to make them secret no more, by opening up the world of investment trusts to all investors.

Gilligan covers the history, dynamics, risks, and benefits of investment trusts. He explains how information is conveyed from the board and portfolio managers to investors via stock exchange announcements, the annual report and various media. He also covers regulation, market pricing and taxation, and the key structural benefits of investment trusts, such as gearing, the ability to hold illiquid assets, and the ability to enhance shareholder value by issuing and buying back shares.

Critically, to get the most out of investment trusts it is important to understand key investment principles, including compounding, diversification, pound-cost averaging, the discount rate, the equity risk premium, the illiquidity premium, price discovery, and capital allocation. In a unique new coverage of these topics, Gilligan explains them through the lens of an investment trust investor.

Throughout, Gilligan employs practical examples and clear explanations to enable readers to feel more comfortable and informed about investment trusts.

Whether you are saving for a particular goal, planning towards retirement or simply maximising your capital, investment trusts are the fundamental tool for building wealth over time. They should be a part of all serious portfolios for long-term investors.

By: Mick Gilligan
Imprint: Harriman House Publishing
Country of Publication: United Kingdom
Dimensions: Height: 235mm, Width: 154mm, Spine: 23mm
Weight: 596g
ISBN: 9781804091272
ISBN 10: 1804091278
Pages: 400
Publication Date: 30 September 2025
Recommended Age: From 18 years
Audience: General/trade , ELT Advanced
Format: Paperback
Publisher's Status: Active

Mick Gilligan is a partner at Killik & Co, the award-winning wealth management firm. He is part of Killik & Co’s award-winning fund research team and is responsible for the firm’s Managed Portfolio Strategy, a discretionary service, invested in funds. Mick is a CFA Charterholder, a Chartered Fellow of the Chartered Institute for Securities & Investments, a Certified Financial Technician and holds the Certificate in Investment Performance Measurement. Mick manages portfolios using a fund-based approach and is a specialist in investment trusts which he explains to readers in his book Investment Trusts Explained (2025). He is frequently quoted in the financial press regarding investment trusts.