Caledonia IT to introduce self-select Isa

The Caledonia Investment Trust is planning to introduce a self-select Isa during the course of the y...

The Caledonia Investment Trust is planning to introduce a self-select Isa during the course of the year. At present the trust, which converted from an investment company on 1 April, just offers a regular saving plans for investors to subscribe to. The £702.2m trust, as at the end of December, had more than £450m of distributable reserves in the bank. These reserves represent the capital gains the company made before it was an investment trust, which it did not pay out because it would have had to pay capital gains tax (CGT) on them. However as the company has now converted into an ...