Investment trusts are supposed to be century old institutions known for solid but stale strategies, but a spate of new launches have offered DIY savers the chance to own stocks involved in space, hydrogen and "digital infrastructure".

It has been a record year for new fund launches, according to the Association of Investment Companies, a trade body, with 13 new companies to choose from. They have attracted 3.4bn in savings.

However, while more options gives investors the chance to own modern stocks, knowing whether a fund is good is difficult due to the lack of a track record.

New funds include Seraphim Space, which raised 180m and buys companies involved in space travel and communications while HydrogenOne Capital raised 107m to invest in hydrogen power. Two digital infrastructure funds were also launched: Cordiant Digital Infrastructure and Digital 9 Infrastructure. Both buy and run physical assets that keep our lives connected and online, such as data centres and undersea cables.

Mick Gilligan, of wealth manager Killik & Co, has invested in four new trusts this year: Cordiant Digital Infrastructure, Digital 9 Infrastructure, Pantheon Infrastructure and Seraphim Space.

"We bought the two digital funds because they generate a lot of cash and are low risk, because customers of the stocks they own will need them regardless of economic growth. They are also big and growing areas so there is a long pipeline of investors to buy and make money from," he added.

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A record year for investment trusts but only these four deserve your attention - Telegraph.co.uk