Aberdeen revamps Edinburgh US Tracker trust

Aberdeen is changing the mandate of the Edinburgh US Tracker investment trust, moving it from a passive to an actively managed US equity income portfolio.

The revamped portfolio will be run by Aberdeen's Philadelphia-based North American equity team, and will aim to provide investors with above average dividend income and long-term capital growth through investment primarily in S&P 500 stocks. Paul Atkinson, head of North American equities, said the proposed changes are based on increasing demand for income in today's low interest rate environment. "With interest rates at extremely low levels and likely to remain so for sometime the search for income is a top priority for a lot of UK investors," he said. In its current form, the trus...