Hill Samuel trust terminates contract

The board of Hill Samuel UK Emerging Companies has served a protective notice of termination of its management contract with Hill Samuel Asset Management and Scottish Widows, but is looking to retain the services of its manager. The announcement, made on 30 June, coincides with the transfer of the trust from Hill Samuel to Scottish Widows and the appointment of Brian Brennan as manager of the investment trust. The changes are part of LloydsTSB's acquisition of Scottish Widows last year. Under the current management arrangements, the board has to give one year's notice of termination. B...