MAM looks to double Diverse Income trust assets with C-share issue

MAM Funds is hoping to as much as double the assets in Gervais Williams' Diverse Income trust through a C-share issue.

The trust’s board can issue up to 10% in new shares, and up to 100 million C-shares, and is aiming to raise up to an extra £50m for the trust, which already has £47.2m under management. Managed in a separate pool, the assets representing the C-shares will not convert to ordinary shares until at least 90% of the net proceeds have been invested or, if earlier, six months after the date of their issue. The fundraising would reduce the trust’s total expense ratio and broaden its investor base, improving market liquidity for existing shareholders, according to the group. Williams (pictu...