Continued from page 1 Hugh Everitt, former manager of the £1.4bn CGU Prestige Portfolio Trust Monthl...
Continued from page 1 Hugh Everitt, former manager of the £1.4bn CGU Prestige Portfolio Trust Monthly Income Plus unit trust, is to manage the Progressive Geared Income. The trust has a simple capital structure of 60% geared ordinary shares, yielding 9%, and 40% consisting of bank borrowings. The underlying portfolio will have a similar split; 60% will be invested in fixed interest paper, with the other 40% of the portfolio in investment trust shares. The BFS Asian Assets fund will be partly managed by Scott McGlashan at Jade Absolute. To obtain the required income element BFS will us...
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