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Aberdeen American trust takes in £300m

Aberdeen Asset Management says it has attracted more than £300m in new investment to its American monthly income split-capital investment trust.

The expected breakdown of the Jersey-based trust is 45 per cent ordinary shares, 42.5 per cent bank debt, 7.5 per cent zero shares and 5 per cent annuity income shares.

The trust will invest in a portfolio divided between US large-cap equities and fixed interest. The large-cap investment will be skewed towards growth stocks and will be managed by Aberdeen&#39s new US equity team headed by Katherine Garrett-Cox.

She says: “I am delighted by the strong level of support for this new closed-end fund. “We continue to be long-term believers in the strength of the US economy and we do not expect a recession in the foreseeable future.”

The trust is eligible for Isa investment.

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