Gartmore is waiving transaction charges and offering a free share exchange scheme to investors who d...
Gartmore is waiving transaction charges and offering a free share exchange scheme to investors who decide to invest in the English & Scottish investment trust before 30 June.
The 1% transaction charge will be waived on investments above £1,000 made via the Gartmore SAVEit scheme. Investors will only be charged 0.5% stamp duty. Intermediaries can take up to 3% commission which is deducted from their clients' investments. Applicants wanting to sell their holdings in other UK-listed companies can take advantage of Gartmore's free share exchange scheme to purchase shares in English & Scottish during the offer period.
The £313m trust, managed by Brian O'Neill, invests for capital growth through an international portfolio. Some 45% of its portfolio is exposed to UK equities with the balance consisting of overseas equities. Over the 10 years to the end of March the trust's NAV and share price have increased by 201.1% and 196.2% respectively. It compares its performance with two benchmarks, the MSCI World index which rose by 205.7% and the FTSE All-Share which advanced by 179% over the 10 years.
As at close of business on 10 May the trust was trading on a discount to NAV of 22.7%.