Investment Trusts

The board of the £55m Henderson Private Equity investment trust has decided to close the vehicle as a result of its persistently wide discount and failure to grow assets under management.

The board of the £198m M&G Equity investment trust has outlined the options for investors ahead of its wind-up date in March 2011.

Baillie Gifford's Gerald Smith has sold his stake in the group's Pacific fund, preferring to invest directly in China.

Schroders' Matthew Dobbs has taken his fund's Singapore weighting from 10% to 20% since May, as prices have become more attractive.

INVESTMENT TRUSTS

Aberdeen has raised £52m for its Latin American Income fund which starts trading on Monday.

Minority shareholders in F&C Commercial Property trust (FCPT) have rejected a proposed takeover by Ignis-managed UK Commercial Property trust (UKCPT) to create a £1.6bn vehicle.

First State has overhauled the £142m Pacific Assets Trust it recently took over from F&C, selling all but five of the existing stocks.

Private equity positions were the largest positive contributor to the Foreign & Colonial investment trust in the first half of the year, helping to offset the effects of BP's dividend suspension.

J.P. Morgan has raised £104m for its new Global Emerging Markets investment trust.