Investors in the rollover vehicle for Govett Strategic will get a 2% enhancement on the offer price,...
Investors in the rollover vehicle for Govett Strategic will get a 2% enhancement on the offer price, which Govett Investments will pay into the trust during its initial offer period.
For example, if a new investor puts £1 into the trust, Govett will also put in 2p of its own money in an effort to encourage investors.
The closing date for new subscriptions for the trust is 11 July for Isa applications and 16 July for shares.
The group has begun a national marketing campaign to support the launch of the mid and small cap trust, with a UK-wide series of roadshows for institutions and intermediaries, supported by advertising and direct mail activity.
Govett is restructuring the £466m Strategic Trust to reduce the high cost of its debt and, in doing so, enhance the prospects for capital growth.
The trust has a conventional structure and provides investors with access to a diversified portfolio of UK mid and small-cap stocks. The proposals to reconstruct the existing trust into the planned vehicle will be voted on at EGMs on 11 and 24 July.
Over one year to 12 June 2002, the trust's performance suffered due to the adverse effects of its gearing policy and the fact its portfolio is fairly growth orientated.
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To open in second half of 2019
Regular reminders and updates
9 December 2019 deadline
Joe McDonnell joins as head of portfolio solutions (EMEA)