Shareholders in the Martin Currie Income & Growth Trust split have a choice of three rollover vehicl...
Shareholders in the Martin Currie Income & Growth Trust split have a choice of three rollover vehicles or a cash exit as part of proposals to liquidate the vehicle next month.
Launched in 1997, the trust comes to the end of its fixed life on 30 April. Managed by Ross Watson, it currently has income, and capital shares and zeros in the issue.
Shareholders will be able to roll over into two Hendersons products, either the High Income Trust or the Preference & Bond vehicle, managed by Alex Crooke and John Pattullo respectively.
The other option is the Allchurches High Income fund, managed by a subsidiary of the Ecclesiastical group.
Shareholders will also have the option to cash in all or part of their holding but will face a CGT liability if they do so.
Income and capital shareholders who do not choose one of the options will be rolled into the High Income trust while zeroholders will go into Pattullo's £730m open-ended offering.
The managers of each rollover option have agreed to contribute 1% of the value of assets towards liquidation costs.