The chairman receives a number of visits from beyond the grave and is forced to amend his assumptions about the split cap industry
The split cap was dead ' to begin with. There is no doubt whatever about that. Its demise had been attested to by much of Her Majesty's financial services industry, most of Her Majesty's financial press and Her Majesty's Government didn't need much convincing that the split was as dead as a dormouse. A dead dormouse. Whatever ' the point is that split caps were dead. How could it be otherwise? Nobody wanted to buy them and that was just as well because nobody wanted to sell them. Well, I say nobody but there remained a solitary outpost of insistence that the split-capital investment trust...
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