Edinburgh weighs up its options

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Group writes to 14,000 clients about their transfer options following takeover of EIT by fidelity

Edinburgh Fund Managers (EFM) is to write to the 14,000 clients invested in the Edinburgh Investment Trust (EIT) through its Isas, pension and saving schemes about their investment options following the loss of the trust to Fidelity. Some 8% of EIT's shares are held in EFM's own Isa wrappers, pension and savings schemes. Iain Watt, chief executive of EFM, said these shares cannot be transferred to Fidelity as they are EFM products. 'We are currently working on the options we can provide to holders of these products and will be writing to them in due course,' he added. According to HSBC ...

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