UK

£31.1m profit before tax

Fund now sits at £124.3m

B share scheme ‘fairest’ way to return capital to shareholders

Managed by Raphael Robelin and Blair Reid

Sales down 83%

Partnered with AllianceBernstein for launch

Acquisition expected by end of year

Realised and unrealised gain

Value of shares and options cut 98%

ii sees concerns around resource and size of assets as well as performance