City of London merges trusts into fund

City of London Investment Management is merging its Emerging Markets Country Trust and Emerging Asia Country Trust into its $48.8m Emerging World Fund. The proposal has been given unit holder approval and the enlarged fund will continue to be managed by City of London Investment Management. The Emerging Markets Country trust, which had £25.7m in assets, aimed to invest in closed ended funds whose investment policies were directed mainly towards emerging markets, while the Asia Country Trust, which has assets of £0.69m, had holdings in investment trusts which invested in Asian emerging ma...