Investor Views: "I Swapped Stock Picks for Closed-end Funds"

Retired investor Robert Long tells Morningstar why investment trusts form a core part of his portfolio

Emma Simon 7 June, 2017 | 2:19PM
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Robert Long, 74, describes himself as a keen investor: “It’s become a bit of a hobby in recent years, although I don’t buy and sell shares as often as I used too. I more interested in decent long-term returns, rather than a quick gain.”

Long started investing early. His first investments were insurance-based savings bonds he says. “I saved monthly, into a type of endowment plan,” he explained. “It wasn’t a huge amount each month, nothing I really missed, but after 10 years I had a decent sum of money. It taught me the benefits of saving on a regular basis. It soon adds up.”

He started investing more seriously in the 1980s, when he bought a number of the shares in companies that were being privatised. This included BT (BT.A), British Airways and British Gas, which subsequently split into Centrica (CNA) and BG Group, recently acquired by Royal Dutch Shell (RDSB).

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Bankers Ord118.40 GBX0.85Rating
BT Group PLC174.85 GBX0.72Rating
Centrica PLC46.66 GBX2.62Rating
City of London Ord397.50 GBX0.51Rating
Finsbury Growth & Income Ord908.70 GBX0.19Rating
Royal Dutch Shell PLC B1,448.40 GBX2.01Rating

About Author

Emma Simon

Emma Simon  is a financial journalist, specialising in investment and consumer issues, writing for

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