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Trusts get £350m in Fleming deal

Investment trusts which invest in Robert Fleming are being rewarded with a


£350m-plus bonanza thanks to the £4.88bn acquisition of the investment bank


by Chase Manhattan.


Murray Johnstone&#39s three oldest investment trusts are benefiting from a


£100m uplift.


The net asset value per share for Murray income is up by 7.9 per cent,


Murray international is up by 7.7 per cent and the nav per ordinary share


for Murray global is up by 16.4 per cent.


Fleming&#39s 10 trusts have added an extra £120m. The two trusts reaping the


best rewards are its mid-cap trust and its continental European trust.


Their navs are up by 4.8 per cent and 4.9 per cent respectively.


Foreign & Colonial Investment Trust&#39s nav has added about 3.3 per cent


while Foreign & Colonial smaller companies investment trust is up by about


2.6 per cent, a combined added value of about £115m.


Murray Johnstone head of investment trusts Geoff Burns says: “Murray


Johnstone&#39s three oldest investment trusts have held Robert Fleming shares


for over 60 years and it has proved to be a tremendous investment over the


long term. This is an excellent example of the benefit of long-term


investing.”

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