Keystone Positive Change trust seeks shareholder consultation as it eyes merger with Baillie Gifford fund

Following years of underperformance

Keystone Positive Change investment trust is considering merging into the £1.8bn Baillie Gifford Positive Change fund as it aims to address “a challenging period of performance”.

In a London Stock Exchange notice today (9 September), Keystone said that although "the board remains confident in the long-term prospects of the strategy", it recognises that the last few years represented a challenging period for the investment trust sector.  As a result, the board has spent the last year looking at a range of solutions to enhance value for shareholders, including increased marketing activity, a share buyback programme and the introduction of a continuation vote.  Baillie Gifford UK Growth eyes 'one-off' continuation vote and tender offer Keystone's share price h...