The Aurora investment trust, which has been overhauled under new manager Phoenix AM, has attracted £9.8m in a recent share placing, well ahead of an initial £2m target.
Following the placing, the fund's size will now be £42m, up from £16m when Phoenix Asset Management took over in January. Aurora IT rises from the ashes with new manager Phoenix AM A total of 5,965,750 new ordinary shares of 25p each will now be issued at the placing price of 163.85p, with dealing expected to commence on 1 September. Lord Flight, chairman of the company, commented: "The outcome of the placing has exceeded our initial expectations which were to raise £2m. "It shows a significant level of support from investors for the new investment strategy adopted when Phoenix ...
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