Morley proposes merger of Global Opportunities

Morley Fund Management is to ask investors in its Global Opportunities split-capital trust to vote on a proposal to merge the fund. It is seeking to combine it with another split, Morley Absolute Growth, which invests in other splits but has exposure to a long/short European strategy. Investors from both trusts will be asked to vote on 2 September. If 75% of those voting in each trust opt for the merger, the reconstruction shares in both trusts will be suspended on 3 September. Dealing on the combined trust would begin nine days later. Morley said the reconstruction has been forced on...