Group accepts SLI offer to take over £40m of assets following concerns over share price
The Gartmore Smaller Companies trust is being merged into Standard Life UK Smaller Companies following concerns about the former's share price discount. The board of the Gartmore trust, currently run by Rob Giles, issued a statement last week stating it had accepted a proposal from Standard Life to take over its £40m of assets. SLI star Harry Nimmo will have control of the assets once the merger is completed. A new performance-related fee is to be adopted by the final entity, which will follow on from the winding up of the Gartmore vehicle. The Gartmore trust's board said long-term ...
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