Pavilion split cap

Pavilion Asset Management is to launch its first split-cap, the Pavilion Geared Recovered Trust, which will be aimed primarily at recovery situations in the UK market. The trust, to be managed by Alan Perkins, is looking to raise £75m through an institutional placing, and aims to capitalise on the growth opportunities perceived to be available in the market, by investing in companies considered to offer recovery potential. Some 60% of the growth portfolio will be invested in quoted equities, which appear undervalued and offer an average yield of around 3%. The 40% income portfolio will ...