james carthewOn income trusts

There were fun and games recently in the UK commercial property sector as Scottish Widows attempts ...

There were fun and games recently in the UK commercial property sector as Scottish Widows attempts to wrest back control of the UK Balanced Property Trust. Scottish Widows own a large stake in that company as it was spun out of the Scottish Widows Life fund in March 2002. The management team left Scottish Widows, set up on their own and were appointed managers on 1 May this year. Swip wants to take back the management contract and is willing to shrink the fund to achieve this. I am sorry to say that I did not own UK Balanced even though, prior to the announcement, it was sitting on a 16%...