Alliance Trust has won its long-running feud with activist Laxey Partners after shareholders voted against the introduction of a discount control mechanism (DCM).
Many retail investors might not have known the name Laxey Partners before this year.
Brewin Dolphin has thrown its weight behind Alliance Trust and said it will vote against the resolution put forward by Laxey Partners to introduce a discount control mechanism.
Laxey Partners has rebuffed Alliance Trust's claim its TER is one of the lowest in its peer group, stating research shows it has almost doubled since the merger with Second Alliance Trust in 2006.
ALLIANCE TRUST VS LAXEY