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Edinburgh rolls New Tiger over to split-cap fund

Edinburgh Fund Managers is rolling over its New Tiger investment trust into a split-capital investment trust with a new strategy after failing to make sufficient returns.

The firm will not reveal the future strategy as it claims it is stockmarket-sensitive.

The fund was launched in 1994 with a mandate to invest in Asian smaller companies with up to £500m market capitalisation. Changes were made to try to improve performance. The size of companies rose to £1bn cap and Hong Kong and Singapore were included.

The trust&#39s board believes success in this market will remain difficult. Shareholders will be able to roll over their investment into the new trust.

The details of the new split-capital fund will be listed on January 22. Changes come into effect in February. Investors will choose ordinary shares or zerodividend preference shares.

Marketing and sales director Nigel Whittingham says: “We hope people will take the rollover option and new inv estors will be attracted. People may ask why we have not laun ched another Asian vehicle investing in lar ger companies but split-capital trusts are the only area currently trading at or above net asset value.”


Lenders vie for release key as trackers replace SVRs

On the product front, I know that a number of lenders are working hard on the two big issues. The first is a real solution to equity release. Bank of Scotland and, latterly, Barclays and Northern Rock showed there is fantastic potential demand for the release of equ ity for our ageing population. It wouldn&#39t […]

Standard Life appoints new directors

Standard Life has appointed The Honourable Roy MacLaren P.C. and Alison Mitchell to its board as non-executive directors. Former High Commissioner for Canada to the UK, MacLaren was Canada&#39s international trade minister, from 1993 to 1996, negotiating the final stages of NAFTA and the Uruguay round of GATT. Mitchell was presenter of Radio 4&#39s Money […]

Baggette Tyror to advise marine industries on stakeholder

Dorset based IFA Baggette Tyror has been chosen as preferred stakeholder adviser to the British Marine Industries Federation. The BMIF has 1,500 members ranging from small family run businesses to well known international companies. Baggette Tyror will be able to offer advice to approximately 25,000 employees when stakeholder is launched in April. Baggette Tyror executive […]

iShares heads for Europe with new fund

iShares has introduced the iFTSE ExUK fund, its third exchange traded fund (ETF). The fund is targeted at investors who are looking for low to medium risk exposure to the European market, and has Barclays Global Investors as the investment manager. The other ETFs created by iShares are the iFTSE 100, which invests in the […]

Sticking to valuation discipline when investing in China

Journalist Alexis Xydias discusses the opportunities – and potential pitfalls – of investing in China with Artemis fund manager Peter Saacke. With Peter holding significant positions in China in the Artemis funds he manages, journalist Alexis Xydias quizzes Peter on the risks of investing in Chinese stocks – including over-valuations, margin trading and financial reporting issues. Click here for video


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