SLI and Gartmore Smaller Companies trust merger completes

Standard Life Investments has completed the merger of its UK Smaller Companies Trust (SLS) and Gartm...

Standard Life Investments has completed the merger of its UK Smaller Companies Trust (SLS) and Gartmore Smaller Companies Trust (GSM), following a near-unanimous vote by shareholders. The merger was agreed by 99.8% of SLS shareholders, seeing around 68% of Gartmore Smaller Companies shares being transferred into continuation shares of SLS, with 8% opting for a cash exit and the remaining 24% chose the in specie option. From this morning, the enlarged trust will have almost doubled in size, now with around £63m of gross assets. Harry Nimmo has run the SLS trust since September 2003 and...