Shareholders approve discontinuation of GCP Asset Backed Income

Dissent over chair re-election

Shareholders of the GCP Asset Backed Income (GABI) trust have voted in favour of the discontinuation of the fund, while the re-election of the chair faced significant dissent.

The proposal to wind down the trust was taken at the end of strategic review in March, following shareholder feedback. The review started after GABI's merger with GCO Infrastructure collapsed last year. At its annual general and extraordinary meetings today (20 May), 80% of votes were cast in favour of the discontinuation of the trust. As set out in March, GABI is likely to commence an orderly realisation of its assets to return capital back to shareholders. GCP Asset Backed Income eyes wind-down following shareholder feedback However, investors also expressed dissent over the re-e...