Aberdeen Asset Management has revealed further details of the merger between the £280m BlackRock Income Strategies investment trust (BIST) and its £330m Aberdeen UK Tracker trust (AUKT), including plans to implement a discount control mechanism.
In November, the board of the BlackRock trust revealed plans to appoint Aberdeen as its new investment manager and to merge the two vehicles, following a strategic review. The review was conducted by the board 18 months after the trust adopted a multi-asset dividend-driven approach, following poor performance after the EU referendum outcome. Aberdeen's diversified multi-asset team, led by Mike Brooks (pictured) and Tony Foster, will manage the combined trusts, which have been collectively renamed Aberdeen Diversified Income and Growth trust (ADIGT), effective today. Aberdeen has n...
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