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Aberdeen trust raises £300m

Aberdeen Asset Managers has raised £300m investment for its new split capital investment company, The American Monthly Income Trust Limited.

The Jersey-based company will have three classes of share: zero dividend preference shares, ordinary income and annuity income shares

The US large cap portfolio will be biased towards growth stocks, and managed by Aberdeen’s new US equity team, led by Katherine Garrett-Cox.

Commenting on the fund raising, Katherine Garrett-Cox said: " 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."

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