M&G and JPMF plan split caps

M&G and JP Morgan Fleming are to launch split-cap investment trusts with conservative structures, investing in an equity and fixed interest split. Both trusts will be rollover options for existing split caps winding up later this year ' the M&G Recovery and Fleming Income & Capital trusts. Such is the interest in the rollover option for the £273.4m M&G trust that the zeros on the existing trust are being aggressively bid up, with investors paying more for the zeros than the value they will be redeemed for at the 3 April wind-up date. Final redemption on the zeros of M&G Recovery is £...