abrdn China enters voluntary wind-up after shareholders approve Fidelity merger

Almost 100% in favour

abrdn China trust has entered into a voluntary wind-up after shareholders approved its proposed merger with Fidelity China Special Situations (FCSS).

At an extraordinary general meeting today (13 March), abrdn China's investors voted 99.99% in favour of the move, representing over 27.4 million votes. The merger was initially agreed back in November, which the trust suggested was in a bid to cut costs and increase the liquidity of the portfolios. abrdn Asian Income cuts management fees by 17% The combined trust will have net assets of around £1.2bn, with FIL Investment Management (Hong Kong), and current FCSS manager Dale Nicholls overseeing the newly merged vehicle. abrdn told Investment Week that managers of the shuttered po...