CI Income Fund already invested 75%

The CI Income Fund, which started trading on 3 November, has already invested around 75% of its capital according to fund manager Jim Goodey. Around £70m was raised at launch for the Guernsey domiciled split capital investment trust. Some £52.5m of this came through a placement of zero dividend preference shares and ordinary shares, with additional capital provided by a seven year fixed interest bank facility of up to £17.5m. The portfolio will focus on issues by other Channel Island domiciled investment companies, at the start of 1998 there were only two such vehicles with combined asset...