Niche investment trust Phaunos Timber is offering a closed-ended industry first by committing to a q...
Niche investment trust Phaunos Timber is offering a closed-ended industry first by committing to a quarterly C-share issue. The group received a substantial investment from an asset manager and wanted to avoid diluting returns by investing the whole sum. The £235m trust is run by FourWinds Capital Management and invests solely in timber. It will begin the issuance from March, with the price rising each quarter. Progressive's trust buyer James Carthew said this would be the first time shares have been issued quarterly in this manner. "To pull this off, the trust will have to trade at...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
