Dear Sir, I feel obliged to write about the continued crisis in the split capital investment trust...
Dear Sir, I feel obliged to write about the continued crisis in the split capital investment trust market and the false prices that are being quoted by the market makers. This has been highlighted by the admission by the board of the Gartmore Monthly Income Trust that if it has to liquidate its cross holdings ' which forms the bulk of its assets ' then there will be insufficient monies, after paying off the bank debt, to pay the zero holders their entitlement to 109.37p and nothing for the income share holders. This situation has been the case for some considerable time, it has been i...
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