Income threat to Dresdner

Dresdner RCM Global Investors' closed-end funds division stands to lose 25% of its revenue if the Charter European Trust moves to Hendersons. The board of Charter decides this week whether to recommend Hendersons' offer to take on the trust and merge it with Henderson Eurotrust to shareholders. The board could also come up with its own proposals and an EGM for shareholders must be held by 5 March. Dresdner RCM has the management contract for 13 investment trusts and, based on figures taken from Trustnet on 31 January 2002, these trusts create an annual revenue of £8.77m to the group, w...