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Aberdeen relaunches Danae

Aberdeen Asset Management has restructured the Danae Investment Trust to broaden its appeal.

Originally the trust was set up to provide income and growth by investing in a portfolio of stocks and shares in the UK. The investment split was a growth section of 34 per cent in UK equities and 31 per cent in UK bonds and other high yielding securities, plus an income part of 35 per cent investing in higher yielding products such as UK corporate bonds.

The revamped Danae investment trust will now have 35 per cent in income and 65 per cent offering capital growth by investing in a portfolio of 350 lower yielding UK equities.

For the first time the shareholders will also be able to purchase zero dividend preference shares as a part of the growth element.

The company feels that despite the volatility of the past year, the UK stockmarket should recover during 2001. It believes the best returns for investors will be by continuing to pick stocks instead of relying on the movement of the market to provide momentum.

According to Standard & Poor’s the Danae investment trust is ranked 9 out of 19 funds based on £1,000 invested on a mid to mid basis with net income reinvested over a three year period to November 20, 2000.

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