Keystone Positive Change offers rollover into £1.8bn sister fund or cash exit in wind-up

Baillie Gifford Positive Change

Keystone Positive Change (KPC) has offered shareholders a rollover of assets into the £1.8bn open-ended Baillie Gifford Positive Change fund or a cash exit as part of a wind-up.

In a stock exchange notice today (30 September), the board said the uncapped cash exit will be at a "modest" discount to the formula asset value, which adjusts the trust's net asset value to account for factors such as fees, discounts, or market conditions.. The board said the proposals, first floated in early September, follow a period of consultation with shareholders to explore the options to address its small size, low liquidity and discount while retaining exposure to a global impact strategy.  Keystone Positive Change trust seeks shareholder consultation as it eyes merger with B...