Management change for Edinburgh Japan

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Edinburgh Fund Managers' unsuccessful yen hedging policy has been the major factor behind the decisi...

Edinburgh Fund Managers' unsuccessful yen hedging policy has been the major factor behind the decision of its Japan investment trust to seek a change of management to Martin Currie. Shareholders in the £38m Edinburgh Japan portfolio will vote on a rollover into the Martin Currie investment trust, run by Michael Thomas, at an EGM on 19 July. So far some 61% of shareholders in the Edinburgh trust have committed to or indicated their intention to accept the bid. Mike Balfour, chief investment officer at Edinburgh, said: "Our decision last August to hedge the yen had an adverse effect on the t...

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