Total AUA of £42bn
Had targeted a £200m IPO
Over the years we have found the vast majority of our investment opportunities by focusing on stocks that have significantly underperformed.
Launched in 2003
Currently owned by the Bank
Was preparing for stockmarket listing before Rathbone approach
Now approximately 1/3 invested
Investing in residential propertyy
List on 6 July on AIM market
Managers give their verdict
Company to float in March 2017
Introduced new long-term discount target
Will appoint investment managers by February
Sister for BB Biotech trust
AIM bucks the trend
Fixed until June 2020
Queripel Partners, Electra and senior management entered lock-up agreement
Investment trust managers are showing renewed appetite for unlisted companies as a way of "differentiating themselves" from competitors, as they also hunt for fresh opportunities in a low-growth environment.
Investment trust providers need to have strong reasons to justify launching new closed-ended funds with equity mandates, as the sector becomes increasingly dominated by alternatives vehicles, according to Numis Securities.
Only 26% of investment trusts launched between 2000 and 2009 are still going strong, while the rest have been wound up due to poor performance, wide discounts or because their mandate is no longer relevant, according to Numis Securities.
IPO listings fall by more than half
Discusses challenges facing the UK market