Burrage closes sole unit trust offering

Burrage Unit Trust Management has closed its only unit trust, the £4.75m Short Dated Gilt and Fixed ...

Burrage Unit Trust Management has closed its only unit trust, the £4.75m Short Dated Gilt and Fixed Interest fund. The portfolio, managed by Susan Bentley, ceased trading after close of business on 23 November. Burrage has written to the unitholders informing them of the decision to close. The assets of the fund will be distributed to unitholders in early December. Bentley said the fund invested primarily in gilts of less than 10 years duration and this market had decreased in size in recent years. Another factor was the additional regulatory requirements due to be imposed once the FSA ...