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Gartmore launches new split capital investment trust

Gartmore is launching a new split capital investment trust from the ordinary income shares of the Gartmore High Income Trust and Zero Dividend Preference shares of Gartmore High Income Securities.


The new group has raised £40m before expenses through a placing by Grieg Middleton of 20m ordinary income, 10m zero dividend preference shares and a £10m fixed interest bank loan.


Deputy head of retail Michael Wrobel says: “The portfolio will be managed by Ross Watson and Glenda Horn of Gartmore Scotland&#39s investment team which has established a reputation for success in the management of split capital trusts.”

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