F&C buys back shares

clock

The £2.6bn Foreign & Colonial Investment Trust repurchased a further 300,000 shares on 17 January. J...

The £2.6bn Foreign & Colonial Investment Trust repurchased a further 300,000 shares on 17 January. Jeremy Tigue, fund manager of the trust, said: "We bought back the shares from an institutional seller as part of an ongoing process to manage the discount. "They came on to the market and it has been our policy for some time to repurchase shares in the trust which come up for sale." According to Tigue, the discount is unlikely to widen in the short term, he believes it will remain around the 10% mark for at least the next 12 months. He said: "Market conditions are conducive to stability, ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on uncategorised

Building Society-owned Newcastle Financial Advisers acquires Openwork firm

First of a number of acquisitions

Hannah Godfrey
clock 09 December 2019 • 1 min read

Bond managers fear hedges being undermined as liquidity dries up

The recent sell off in the bond market and growing liquidity issues have forced bond investors to use similar hedging techniques, undermining their effectiveness and causing concerns about how much downside protection funds really have.

Anna Fedorova
clock 03 July 2013 •

Police launch investigation into mortgage middleman fined £1m

West Midlands Police have launched a fraud investigation into a Birmingham financier over his role in sale and rent back agreements.

clock 25 June 2013 •