The board of the Electric & General investment trust may be forced to offer a range of alternative funds for investors after pressure from shareholders, according to analysts at Numis.
The £326m trust has come under fire in recent weeks after the board outlined proposals to restructure it by either paying out cash to investors or giving them the option to switch into an open-ended vehicle. Numis says: "We believe there will now be pressure on the board to offer an alterative rollover. "J.P. Morgan Overseas appears to be in the driving seat to act as a rollover vehicle, although the board may be forced to consider more than one investment trust option." JPM's Overseas investment trust, which had been in discussions with Electric & General about acting as the rollo...
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