M&G Equity trust board outlines wind-up options

The board of the £198m M&G Equity investment trust has outlined the options for investors ahead of its wind-up date in March 2011.

Under the proposals, investors will have three choices: They can opt to rollover over into shares issued by M&G High Income investment trust, take a full cash exit, or invest in at least one open-ended vehicle managed by M&G. As part of the restructuring, M&G will make a "significant commitment in relation to the costs of the proposals," says the board. The board is expected to announce full details in January 2011.