Laxey: Alliance Trust 'terrified' to reveal TER

Laxey Partners has claimed Alliance trust is "terrified" to reveal its total expense ratio to shareholders in its latest swipe at the trust.

Laxey, involved in a long-running dispute with the £2.8bn trust's board, claims investors are unaware of its soaring expenses, which its says have risen 145% over the last five years. The activist investor says the escalating costs are the reason Alliance is refusing to introduce a discount control mechanism to tackle its 17% discount. It says in a statement: "We believe the real reason Alliance trust has declined to adopt a discount control mechanism is the board is terrified of exposing the true total expense ratio to shareholder scrutiny, in light of continuing pedestrian performan...