And now for something completely different

This week I am going to do something a little out of the ordinary for me - I am going to congratulat...

This week I am going to do something a little out of the ordinary for me - I am going to congratulate some fund managers on coming up with a damned fine (old) idea. In particular, I would like to suggest more listed fund vehicles embrace the idea of creating different classes of equity (and perhaps even debt) for different types of investor. The prompt for my rare accolade was the decision, as reported in this newspaper last week, by investment trust JPMorgan Private Equity to look into issuing a class of warrant shares to help it raise more money. This decision comes hot on the heels...