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F&C High Income Fund unit holders vote to change allocation

Foreign & Colonial High Income Fund unit holders have agreed proposals to change the investment weightings in the fund.


The vote to modify the weightings follows changes to Advance Corporation Tax credits which came into effect on April 6.


The fund has reduced its equity holdings in favour of bonds enabling it to qualify as a bond fund and gain favourable tax status.


The proposed proportion of assets is as follows: special debentures 0-60 per cent, equities 0-60 per cent and other fixed interest securities and cash 0-100 per cent.

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