UK Select to rebrand under Threadneedle name

The board of the £28m UK Select trust has announced the company will rebrand under the Threadneedle name early next year, subject to shareholder approval.

The board argue the rebrand will boost the investment company's profile, growing assets and improving liquidity. The trust has also announced plans to use its share buyback powers to ensure the company's share price trades at or around NAV in normal market conditions. At present the trust is trading on a 7% discount to net asset value, according to Numis. Jim Le Pelley, the company's chairman, said: "Providing confidence to the market on the company's share rating and changing the company's name to align it with Threadneedle's strong performance as UK equity managers are the first ste...