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Aberdeen takes over Deutsche Latin trust

The Deutsche Latin American companies investment trust is to be taken over by Aberdeen and will switch investment objectives to India.

Shareholders of the trust voted against the company’s continuation as an investment trust but later decided that it could resume but with a different remit.

As a result, management of the trust will switch to Aber-deen Asset Managers which will in turn switch the focus of the fund to India.

The objective of the trust will be to achieve long-term capital appreciation by investing in companies which are incorporated India.

The net asset performance of the trust will be benchmarked against the MSCI India index in sterling terms.
If shareholders do not agree to the proposal, then the board intends to wind up the company.

The board believes that the benefits of the proposals are that the new mandate will offer exposure to an emerging market where performance has been historically strong and where, according to Aberdeen, valuations rem-ain attractive.


Launch of the Legal & General Partnership

Legal & General launches its new partnership. It will act as a principal for firms who are L&G’s appointed representatives for mortgage, protection and general insurance sales.The partnership has over 2,000 advisers and it hopes to continue to grow.L&G managing director intermediary solutions Graham Newitt says: “We have over fiften years’ experience in supporting businesses […]

Tories plotting a revolution

The Tories want to revolutionise retail regulation – their plans amount not to reform but to FSA Mark II.

Under Shadow Chancellor Oliver Letwin’s plans, retail investors and savers would get the information they need to make informed decisions but they would not have a system of regulation that sought to minimise their risk when investing.


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