View more on these topics

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.”

Recommended

Make hay while the sun shines

James Hay has introduced Flexi-Sipp, a self-invested personal pensionwhich can be linked to funds from Aberdeen Asset Managers, Williams de Broeand Prudential-Bache.The panel agree that the product fits well into the market. Shaw says:“These plans have become popular since drawdown became available and itfits in well.”Flowers says: “Given the way pensions are being driven by […]

Investment View

Live phone-in programmes, even those on television hold no terrors for me.The Money Channel&#39s consumer phone-in programme last week was nothing newbut it was certainly interesting, not least for the conversation I heldwith Anne McMeehan of Autif in the taxi afterwards.Anne was fresh from having gathered the latest bunch of statistics oninvestment fund sales and, […]

Shake-up at Misys strengthens expansion of networks

Super-network and software giant Misys has made a ser ies of managementchanges aimed at consolidating expansion of its IFA networks.It says the changes will provide a platform for future development.A number of the appointments are at the recently formed Misys IFA Serviceswhich is designed to supp ort the company&#39s networks Countrywide, FinancialOptions Group and Kestrel.Misys […]

Boutiques are in style fashion

The trend of big-name managers jumping ship to join either a smallinvestment house or to start their own firms is is now firmly establishedin the UK.The phenomenon of boutiques began in the US about 10 years ago andboutiques now springing up in the UK.In the last couple of years, Japan specialist Ed Merner left Schroder […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment