Investment Trust committing to set a SBT - FI or a company?

Hi team,

Thank you again for all your support provided via the forum. I have a question regarding publicly listed investment trusts, that are not REITs. If an investment trust as a public company wants to commit to setting a SBT, would the trust be considered an FI and need to use the FI guidance or would it be considered a company (similar to REITs) and need to set a target as a company?

Many thanks,

Hi @thora.frost,

Apologies for the late response. As an investment trust (IT) is a pooled investment vehicle similar to a unit trust, it should set targets as an FI. However, it may be more efficient for the investment manager of the IT to set targets including funds managed in the IT if the manager manages several ITs. It would also be preferred from SBTi’s perspective, as SBTi doesn’t allow setting SBTs for individual products or company divisions. Even if the IT is technically its own company, it may be perceived as an investment product more than a company.