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Govett trust votes against liquidation

Govett Asian Smaller Companies Investment Trust shareholders today voted to rebut a move from Charlemagne Capital, formerly Regent Europe Asset Management, to liquidate the trust.

Eighty-eight per cent of shareholders voted against the resolution, which proposed liquidation of the £29m trust.

Govett Investments director of investment trusts James de Sausmarez says: "This represents a positive endorsement of the board&#39s proposals for enhancing shareholder value. I very much hope we will now be able to focus on delivering good performance for shareholders."


Gartmore&#39s Prvulovich zeros in on stable growth fund

Gartmore is calling on the skills of star manager Richard Prvulovich for the launch of a new fund of zeros.The stable growth fund is set for launch on July 11 and will invest in the zero-dividend preference shares of multi-share class closed-end investment trusts, such as split-caps.The fund aims to provide long-term capital growth. It […]

Group may propose locking commission

An Aifa and ABI working group set up to thrash out agreed contractualterms bet-ween providers and IFAs may recommend that commission cannot bealtered on existing contracts without prior notice. The group, made up of IFAs and providers, is trying to create a standardset of terms of business and will aim to put its recommendations to […]

Standard Life Bank hooks up with IFonline

Standard Life Bank is the latest lender to join the IFonline trading platform, bringing the number of lenders committed to the site to 50.Standard Life Bank will now be able to accept electronic applications through the IFonline platform.IFonline marketing director Mike Douglas says: “There should be no doubt in the minds of intermediaries which system […]

Why ScotEq with-profits bond failed to shine

Before IFAs are seduced by Scottish Equitable&#39s £500,000 ad campaign“to give IFAs the best support in the country” (Money Marketing, May 24),they should learn from our bitter experience. In January 1999, we promoted their marketing literature which proudlyproclaimed: “With-profits performance bond – a shining example.” The words ring hollow now when the product enhancements, to […]


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