iimia IT looks into open-ended funds

shareholder approval will allow 25% of iimia portfolio to be held in on- and offshore oeics

Nick Greenwood's iimia investment trust is seeking shareholder approval to allow up to 25% of the portfolio to be held in on and offshore open-ended funds. At present, the vehicle looks to generate returns by exploiting pricing inefficiencies among closed-end funds and the board feels including open-ended vehicles in the mandate will allow the manager to access other areas of the market. Over 12 months to 30 April, the trust has produced net asset value growth of 39%, rising from 109.73p to 152.01p, compared to the MSCI World Index's 31%. During the year, shares have traded between a 3% p...