Shareholders in the £25m Dresdner RCM Emerging Markets investment trust will be given three options ...
Shareholders in the £25m Dresdner RCM Emerging Markets investment trust will be given three options when the company winds up later this year.
Under the proposals put forward by the trust's board, shareholders will be able to take cash or roll over into one of two open-ended vehicles: the sterling-based A shares of the Dresdner Global Distributor fund, a Luxembourg-listed open-ended portfolio, or the Dresdner RCM Tiger Trust, a UK-registered unit trust focused on Asian emerging markets.
The trust has been one of the star performers in its sector over the 12 months to 18 March. On a mid-to-mid basis, it has returned 39.9%, making it first out of 10 trusts in the global emerging markets sector.
Over three years to the same date, it has returned just over 35%, underperforming the peer group average of 41.3%.
Shareholders voted against the continuation of the trust at an EGM in January. Further EGMs will be held on 22 and 30 April to vote on the board's proposals.
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