Pressure on Aberdeen IT wind-up

The Aberdeen Latin American investment trust is under pressure to wind up from its largest shareholder, City of London Investment Management (COLIM). COLIM, which holds 29.8% of the trust, has submitted a resolution requiring the board to put proposals to shareholders for the liquidation or other reconstruction of the trust that would allow shareholders a cash exit at a minimum 95% of NAV. COLIM is not connected with the City of London investment trust, which is managed by Hendersons. Elsewhere, the board of Finsbury Smaller Quoted Companies trust has drawn up proposals to volun...