Close Finsbury caps Eurotech fund's TER

Professional Adviser
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chairman peter gray emphasises long-term outlook for the Investment trust despite losses in NAV per share of 40% in the year to 31 august

Peter Gray, chairman of the £7.6m Close Finsbury Eurotech investment trust, has confirmed the future of the trust is safe. The announcement follows discussions on the trust's future that concluded the long-term investment case for the trust remains intact. However, the group has moved to cap the total expense ratio (TER) of the trust at 3.5%, with Reabourne Technology Investment Management deferring any fees that take expenses above that level until further notice. Gray said: 'The board and its advisers have devoted much time and thought over the past year to a re-examination of the a...

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