The board of Invesco English and International (IEI) is planning close the investment trust because it is no longer large enough to be viable.
In April, the board of the £52.1m vehicle introduced a suspension preventing investors selling shares back to the company after receiving a large number of redemption requests. It has now decided the trust's best option is to liquidate and is planning to send details of the proposals to investors in August. Investors will either be offered a cash exit or a rollover into the Invesco Perpetual UK Smaller Companies Growth fund, run by Andy Crossley, the manager of IEI. Investment trust analysts have predicted the number of investment trusts will shrink this year as investors force sma...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
