In his annual review, he says the best non-specialist trusts are those with the fewest commitments and restraints, such as Anglo & Overseas, Foreign & Colonial, Monks or Scottish Investment. With rather more invested in the UK market, there are Scottish Eastern or Scottish Mortgage. For those looking for very little investment in the UK, suggestions are Fleming Overseas or Kleinwort Overseas.
Mr Buchan is reasonably confident that smaller companies will get their full share of the good performance he expects in the UK this year. He singles out managers at Aberforth, Framlington, and Moorgate.
Europe and the Far East will also do well. Trusts recommended to take advantage of this are Abtrust New Dawn, Gartmore Emerging Pacific and Pacific Assets. Fleming Far Eastern and Govett Oriental are also recommended among the larger trusts.