Edinburgh fund managers responded to yesterday's events in the US saying: "Following the incide...
Edinburgh fund managers responded to yesterday's events in the US saying: "Following the incidents in the US, trading in our Unit Trusts and OEIC funds have been temporarily suspended. This is due to the anticipated short-term instability of the markets.
This action has been taken in consultation with our Trustees who have confirmed that this action is in line with the approach being taken by other Fund Management groups in the UK.
We have advised FSA of our decision and we will be continuously reviewing the position with our Trustees. We will begin dealing as soon as the markets conditions allow us to.
However, instructions to deal can be accepted although the valuation point at which it will be priced is as yet undetermined.
Interest rate outlook unchaged
FCA made demands last week
'Unsung' part of FSCS work