Gartmore changes trust name

Gartmore's Fledgling Index Trust has changed its name to Fledgling Trust following an EGM on 24 April. At the same meeting it saw shareholders, who own 38.5% of the capital in the portfolio, vote to exit the vehicle. This leaves the trust with remaining asset value of £62m. This follows board proposals to offer the option to exit the trust, prompted by a requisition order from a shareholder, the Value Catalyst Fund, in January. The order also included the clause that if more than 50% of the company's shares were tendered, the offer must be withdrawn and replaced with a resolution to liqu...