Venture capital investment trusts have achieved strong profits from exits over the past month. Schr...
Venture capital investment trusts have achieved strong profits from exits over the past month. Schroder Ventures International made £44m from an initial investment estimated to be around £1m. In May 1999 it acquired a stake in Across Wireless, in December the holding was valued at £1m. The trust sold its position to the Sonera Corporation in April, representing an uplift of around 42p per share. At the same time Electra disposed of its holdings in HMY and Robert Fleming, which provided an uplift of 23p per share. Merrill Lynch believes as long as the economic backdrop remains benign, the...
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