F&C Active Capital is to delay payment date

The F&C-managed Active Capital Trust is looking to delay its target payment date on ordinary shares ...

The F&C-managed Active Capital Trust is looking to delay its target payment date on ordinary shares by five years to allow the vehicle to maintain its current portfolio of smaller company holdings. Run by Bill Brown and team, the venture capital focused trust is obligated to pay 99.9p per share plus 7.5% per annum from launch in 2001 to the payment date on 31 May 2007. As the portfolio has been managed with this target in mind, the board said a reasonable proportion has reached its natural maturity and has been realised in recent months. On 7 June, approximately 23.2% of total assets were...