The level of funds raised by new listed managed investment IPOs exceeded $4bn in 2019, an increase on the $3.3bn raised the previous year despite fewer new listings. There was also a large number of secondary market raisings which, along with the new funds raised and an increase in the overall market saw the market cap of the listed investment companies and trusts sector increase to $52.1bn by the end of November. In its latest LMI Monthly Update, Independent Investment Research takes a look at activity in the sector through the year and some of the key themes. We also shine the spotlight on Global Masters Fund which provides investors with an indirect exposure to Berkshire Hathaway as well as some international small cap exposures. Read our full report for more details.