Invesco Tokyo shakes up trust range

The board of Invesco Tokyo, one of the group's largely institutionally held investment trusts, has put forward plans for reconstruction. The move is effectively a consolidation of its trust range, with investors in the £32.8m Invesco Tokyo given options including rolling over into the group's marginally larger £34.4m Perpetual Japanese Investment Trust. The plan, which is yet to be passed by shareholders, would see the number of pure Japan investment trusts shrink from 10 to nine. It comes well in advance of the trust's mandated continuation vote in 2004.