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Luckraft trust proposal rejected

Framlington Innovative Growth shareholders have voted against a proposal to restructure the £90m investment trust as a small-cap equity income vehicle for its manager, George Luckraft.

The results of a tender offer, announced today, show that 53.1% of the company’s shares in issue were tendered.

Under the terms of the tender offer, the board will provide for a reconstruction and winding up of the trust, with a full cash exit and a rollover option into the Axa Framlington UK Smaller Companies fund, managed by Chris St John.

Luckraft took over the management of Framlington Innovative Growth earlier this year. He took over from Brian Watson, who managed the trust from its launch in 1992 until the end of 2009.


IFP to host RDR conference

The Institute of Financial Planning is hosting a half day conference to help advisers that are concerned about how they will meet the RDR requirements. Speakers include FSA sector manager David Geale, Henderson Global Investors chief economist Simon Ward and IFP chief executive Nick Cann. The conference is free to members on a first-come, first-served […]

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Fit for Work: guidance for employers published

On Friday, the Department for Work and Pensions published its guidance for employers on using the new Fit for Work (FfW) service to help ill employees return to the workplace. It also includes more details on the tax exemption for medical interventions that commenced on 1 January 2015.


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