Tellworth Investments has pulled plans to float a UK equity investment trust due to "insufficient demand".
The firm had planned to raise £100m for the Tellworth British Recovery & Growth Trust, to support UK firms across the market cap scale in their recovery from the Covid-19 pandemic. The fund was expected to be headed up by ex-Schroders duo Paul Marriage and John Warren. Asset managers look to tap investors' 'patriotic spirit' with trio of trust launches However, the firm said on Thursday (8 October) that it would not proceed with the IPO at the current time. In a statement, the company said: "While the investment proposition and investment team have been very well received by dis...
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