F&C LatAm trust fights on

group to vote on plan to control its discount in bid to ward off hedge fund arbitrageurs

The last trust remaining in the Latin American sector will hold a vote on 20 September on proposals to introduce further measures to control its discount. F&C's Latin American Investment Trust already has a discount control mechanism in place, in the form of a repurchase scheme, through which it disposed of 682,093 shares in July this year. Under the proposed discount controls if there is an average discount of 13.5% for a period of 60 days ending on 30 September or 31 March in any year, there will be a tender offer for 7.5% of the outstanding issued share capital. Shares will be acqui...