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Aberdeen suspends two more splits

Aberdeen Asset Managers was forced to suspend trading in two more of its split cap investment trusts yesterday.

Its Leveraged Income and the Aberdeen High Income Trust suspended their shares as they entered discussions with the banks and other creditors.

Just last week, Aberdeen suspended its Media & Income trust on the same day chief executive Martin Gilbert testified before the Treasury Select Committee which is conducting a hearing into the troubled splits sector.

In total, seven trusts have now suspended their shares as the crisis continues.


Independent View

Almost a decade ago, I had a rather heated discussion with a colleague about the problems inherent in corporate America and my concerns over accountants taking over the world – then it was the big six but now there are five, soon to be four or perhaps three.My fears have been vindicated, with the WorldCom […]

&#39No fast bucks to be made in buy-to-let market&#39

Buy to let is not the “fast buck” market many borrowers think it is and new landlords must research the market properly before making a purchase, warns UCB Home Loans.According to the lender, the buy-to-let market grew by a massive 62 per cent last year, with 184,900 buy-to-let mortgages outstanding at the end of December […]

Flight attacks Labour&#39s &#39garbage&#39 attitude to IFAs

The Government must stop attacking IFAs for reasons of political expedience and publicly recognise that they provide the majority of financial advice in the UK, says Conservative shadow paymaster general Howard Flight.In a harsh criticism of what he calls the Government&#39s “garbage” attitude towards IFAs, Flight says it is easier for the Treasury to bash […]

Bridging the gap

The ABI proposals1: Streamlined regulation for safe harbour products to cut the costs of advice and distribution.2: Simpler private pension legislation which will encourage employers to offer and maintain pensions and encourage individuals to join schemes.3: Wider availability of advice, including generic advice tools which can help people assess their need to save, and advice […]

The curse of long-term cash

Trevor Greetham, Head of Multi Asset at Royal London Asset Management, reveals why clients should be seriously concerned when short-term holdings of cash turn into a long-term investment. There is nothing wrong with holding wealth in the form of cash on a short-term basis. For many people capital stability is important and access to ready cash […]


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