EDITOR'S COMMENT 5
Patience pays off as stock market confidence returns

COVER STORY 6
Whatever one’s investment goals,
ISAs have a whole repertoire of
options that make them an ideal
route into investment trusts

AWARD WINNERS 12
The group and trusts that
outshone their peers in 2011

CHART POINTERS 16
Share price trends for seven
specialist sector-leading trusts

INVESTMENT STRATEGY 18
How Susie Rippingall has succeeded where
others have failed in Asian stock markets

INCOME PORTFOLIO 20
More glad dividend tidings from our holdings

GOLDEN OLDIES 22
Scottish American Investment has been a
consistent income generator for nearly 140 years

DEAR EDITOR 24
Answers to your investment trust-related queries

MY FAVOURITE TRUST 26
Charles Cade explains what sets HgCapital Trust
apart from its private equity rivals

INVESTMENT TRUSTS VERSUS
INVESTMENT COMPANIES 28
The two rivals square up, with the Retail
Distribution Review set to create a more
level playing field from next year

PENSIONS 30
Similar long-term goals make investment trusts
and pensions the perfect match

EXPERTS’ TIPS 31
How our panels’ 2012 selections are performing