F&C Investments has scrapped plans to launch a US investment trust after it failed to reach its £100m fundraising target.
The firm blamed volatile market conditions for the lack of demand for the product, but added it still plans to expand its investment trust range. The group had planned to launch the trust in conjunction with Barrow Hanley US, one of America's largest active managers of domestic equities. Ed Morse (pictured), head of investment trust business development, said: "Despite seeing strong support and interest from wealth managers, due to the extraordinarily volatile and unpredictable market conditions, F&C has been unable to attract sufficient financial commitment to launch the F&C Barrow H...
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