If 3i Infrastructure is able to sell its two largest investments, Stifel expects healthy proceeds could be returned to shareholders.
Managers Evy Hambro and Olivia Markham said the trust's disappointing first-half performance was not a surprise, given the huge mining rally in 2016.
Star Henderson Smaller Companies manager Neil Hermon has reduced exposure to companies exposed to slowing housing market. However, a topsy-turvy year did not dent the trust's long-term winning streak.
Shares in Invesco Asia are looking expensive after its board spent £39.2 million buying back a big chunk of them this morning.
The managers of the Asian smaller companies trust warn that companies may get caught out after taking on too much debt.
The board of the private equity fund confirms it will not issue any more shares at a discount, after January's unpopular share issue.
Garrett Fish, manager of the JPMorgan American trust, says shares in Apple look attractive, despite hitting new highs this year.
The Diverse Income trust's insurance policy against a significant market fall has hurt performance, but the managers are happy to keep it in place.
European Assets Trust has rebounded strongly after a torrid 2016, but manager Sam Cosh is wary of high valuations.
Theresa May's loss of her parliamentary majority could boost the stock market if it leads to a softer Brexit, says JPMorgan Claverhouse manager.