Success for Exeter rollover

Exeter Investment Group has raised £160m from the placing and offer for subscription of the Innovative Umbrella Investment Trust, the rollover vehicle for Exeter Preferred Capital. More than 76% of existing shareholders from the old Exeter Preferred Capital Trust have elected to roll their assets into the new investment trust, attracting £54.4m in additional funds from new investors. Exeter took £45.6m into the progressive growth share pot, £72m into the dynamic growth share pot, and £42.6m into the dividend growth share pot. Less than 24% of shareholders, by value, have op...