FIS in FTSE Oeic move

British Assets Investment Trust is looking to switch its £180m exposure to the Investors Capital Trust into a FTSE tracking Oeic fund. Both trusts are run by Friends Ivory & Sime (FIS) and some 32.7% of the £550m British Assets Trust is in Investors Capital. British Assets has been looking to exit Investors Capital since 1994, according to Gordon Humphries, business development director at FIS, but has always wanted to get out at the right price. Investors Capital, a split cap, currently has reconstruction proposals on the table for implementation at the end of September. Investors ...