The board of the Momentum Multi-Asset Value (MAVT) investment trust intends to put forward proposals for the winding up of the company in light of dwindling assets.
In a stock exchange notice today (25 May), the board said that liquidating the company and providing shareholders with an option to roll their investment into another investment vehicle or a cash exit at close to NAV would be in their "best interests". "Recent market challenges and share buybacks through the operation of the [discount control mechanism] have seen the company reduce in size, to net assets of around £43m, and its ongoing charges ratio increase. This has put the long-term viability of the company in question," the board said. Momentum Multi-Asset Value continues to deli...
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
