Expert view: Five reasons to back investment trusts Trusts cover many different asset classes, in terms of geography and industry sector. From Eastern Europe to private equity, global health care to US smaller companies, there is considerable variety. Investment trusts" structure allows them to borrow money when markets are low, enhancing returns often at very low rates of interest. When markets look overvalued, managers can pay back debt by selling their shares. Thanks to the ability of trusts" share prices to trade below their asset value, often one can buy £1 of assets for 90p, or even less. Read: A buyer's guide to spotting investment trust bargains How to buy funds at a 20pc discount Corporate responsiveness means trusts" independent boards can hold fund managers to account. Discount narrowing mechanisms can make a trust trade more in line with its asset value. For example, Invesco Asia Trust recently offered to buy back 15pc of the shares 2pc below their asset value, relative to their current discount of about 12pc to asset value. My final reason for using investment trusts is that activists can persuade boards to release value for shareholders. High-profile encounters, such as with Caledonia investment trust, mask lots of smaller engagements, enhancing returns for investors. Their myriad advantages make trusts perfect tools for constructing portfolios that cover a wide range of assets. Jeremy Le Sueur is managing director of 4 Shires Asset Management For more investing news: sign up to our weekly email