Investment Trusts

The senior fund manager of the £141m City Natural Resources High Yield trust is stepping back from day-to-day management of the vehicle.

The board of the £54m Gartmore Growth Opportunities trust has served ‘protective' notice of termination of its management agreement with Gartmore, following the resignation of Gervais Williams.

INVESTMENT TRUSTS

George Luckraft's Framlington Innovative Growth trust faces liquidation after investors representing more than 50% of its shares opted for a cash exit.

Witan investment trust has handed two £100m UK equity mandates to Lindsell Train and NewSmith Asset Management, after taking one of the mandates away from Henderson.

Jupiter's Charlie Thomas has begun modifying his £41m Green investment trust since taking over the whole portfolio.

First State's Susie Rippingall believes Hong Kong could experience an economic boom if interest rates remain low in the US.

The board of the £55m Henderson Private Equity investment trust has decided to close the vehicle as a result of its persistently wide discount and failure to grow assets under management.

The board of the £198m M&G Equity investment trust has outlined the options for investors ahead of its wind-up date in March 2011.

Baillie Gifford's Gerald Smith has sold his stake in the group's Pacific fund, preferring to invest directly in China.