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Aberdeen looks to expand income trust

Aberdeen Asset Managers aims to double the size of its Abtrust New Preferred Income investment trust to £137m by raising £64m with a new share offer.

Money will be raised for the split-capital investment trust by placing an £11m tranche of Abtrust NewPref RPI-linked debenture stock at 108p a unit share and a three-for-two open share offer at 145p. The trust is also expected to increase bank borrowing by about £10m.


Jobs&#39 hope for Britannia Life staff

Commercial Union, Scottish Equitable and Colonial are considering taking staff from Britannia Life&#39s doomed IFA arm. The 132 broker consultants, led by two regional sales managers, are talking to about five life offices in an attempt to secure new jobs.

How ratings agency could provide competitive edge

In the late 80s and early 90s, hundreds of thousands of people were sold pension plans which were unsuited to their needs. Last November, a survey by the PIA found that as many as one in three long-term pensions contracts are being surrendered within three years of their purchase, suggesting that a large proportion of […]


Shares in Sedgwick Group rose by 5p to 146p as the firm posted a 6 per cent increase in pre-tax profits for 1997. Pre-tax profits grew to £101.2m from £95.5m in 1996 but the strength of sterling hit the figures by £10.2m.


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