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Targets pension savers
Train holds 5.3% in stock
Last held retailer in 2012
Regulator 'encouraged' by adviser firms' response but fears potential for bias remains in some firms
Kelly left Schroders earlier this year
Left Ashcourt Rowan following Towry deal
Follows significant investor demand
Trust to realise assets by year-end
Benefits of membership outweigh disadvantages
Issue six times oversubscribed