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Two more splits hit bottom

The board of Aberdeen Asset Management&#39s high income split cap investment trust called in the receivers this week and another, the Yeoman Investment Trust suspended its shares as the outlook for the sector continued to worsen.

High income along with the Aberdeen leveraged income suspended its shares on July 18, and is now unlikely to ever return any money to investors.

The suspension of the Yeoman fund, owned by BC Asset Management, does not bode well for the sector as almost a third of its shares are owned by other split caps.

Aberdeen owns 16 per cent, BFS controls 8 per cent and Exeter Fund Managers hold 7 per cent.

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