Aberforth eyes launch of new investment trust to absorb Split Level Income assets

Portfolio of UK small listed companies

Aberforth Partners is set to launch a new investment trust in July to absorb the assets of the Aberforth Split Level Income (ASIT) trust.

The ASIT board has reached an agreement in principle with the soon-to-be-launched Aberforth Geared Value & Income (AGVIT) trust, on initial terms of a scheme of reconstruction and voluntary winding up of ASIT.   In a stock exchange notice today (29 April), the trust explained the scheme will involve the transfer of part of the assets to AGVIT in exchange for the issue of new ordinary shares and new zero dividend preference (ZDP) shares in AGVIT. Triple Point Energy Transition proposes orderly wind-up If ASIT shareholders approve the proposals, the scheme is expected to become effec...