# Dud investment trusts: what to do

> How to fix underperforming investment trusts without losing money
- Title: Dud investment trusts: what to do · MoneyWeek | Shortify
- Summary: How to fix underperforming investment trusts without losing money Sell dud trusts with no recovery path; hold those with solid strategies or sector advantages
- Keywords: investment trust, scottish mortgage, lazard, mci, european opportunities, wirecard, mid wynd, sts global income, troy, ruffer, capital gearing, avi global
- Source: MoneyWeek — https://moneyweek.com/investments/funds/what-to-do-with-a-dud-investment-trust-in-your-portfolio
- Published: 2026-09-28T06:00:00+00:00
- Read time: 1 min
- Topics: investment trust, scottish mortgage, lazard, mci, european opportunities, wirecard, mid wynd, sts global income, troy, ruffer, capital gearing, avi global
## Dud trust dilemma
Investment trusts can underperform for years without recovery. Some are stuck in bad sectors or flawed strategies.
## Scottish Mortgage story
Scottish Mortgage dropped from top to bottom but recovered over three years.
## European Opportunities collapse
European Opportunities lost its biggest investment, Wirecard, in 2020 and never recovered.
## Mid Wynd underperformance
Mid Wynd moved from Artemis to Lazard three years ago and now returns 17% versus 63% for the MSCI World index.
## STS Global Income lag
STS Global Income and Growth returned only 16% with a defensive strategy that has been wrong.
## AVI Global potential
AVI Global has lagged but could return to the top if its 20% Korea allocation pays off.
## Alliance Witan issues
Alliance Witan selected 11 elite managers but has underperformed compared to F&C and Monks.
## Scottish American struggles
Scottish American has poor performance despite 52 years of dividend increases and low yield.
## Finsbury Growth recovery
Finsbury Growth & Income has poor returns but manager Nick Train has a compelling story.
## BlackRock smaller companies
BlackRock Smaller Companies dropped from near the top to near the bottom in five years.
## Pacific Assets merger
Pacific Assets is being absorbed by Schroder Asian Total Return but Scottish Oriental has worse performance.
## Pershing Square discount
Pershing Square has a 33% discount to net asset value and has recovered in past downturns.
## Key takeaway

Sell dud trusts with no recovery path; hold those with solid strategies or sector advantages