Pacific Assets trust proposes gearing policy change as it eyes more retail investors

Up to 10%

The board of the £430.8m Pacific Assets trust is asking shareholders to approve the use of gearing of up to 10% at the upcoming AGM.

In the annual report, chair James Williams stated that this had come about because of a "change in the AIFMD status of the company, enabling it to incur borrowing, when previously this was not permissible". However, he went on to say the company has "no intention" of utilising the facility in the "immediate future". Williams also noted they were looking to "introduce improvements to the visibility of the trust" and wanted to increase the number of retail investors. "This will be helpful in ensuring continuing demand for the trust's shares but only if the trust can continue to provi...