AITC sets up split capital hardship trust

The AITC is pressing ahead with its intention of setting up a charitable trust for investors suffering financial hardship after the collapse of the split-cap sector. This week it is writing to 50-70 management groups, brokers, accountants and lawyers that benefited the most from the splits boom and asking them to make a voluntary contribution to the trust, similar to the Hardship Fund used by the Lloyd's market. According to the AITC, £1m has already been pledged to the trust and it is looking for anything up to £10m. Speaking at the AITC conference for directors last week, Daniel G...