Association of Investment Trust Companies director general Daniel Godfrey says he supports the propo...
Association of Investment Trust Companies director general Daniel Godfrey says he supports the proposals put forward by FSA chairman Howard Davies yesterday that would significantly change the rules governing the management of investment trusts. The new rules would force investment trust companies to become more transparent on issues of gearing, investment policy and corporate governance, and would prohibit the sort of cross holdings that caused split capital trusts to come apart when the stock market turned south. The relationship between managers and the boards of investment...
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