Saints shows great patience with cash

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The Scottish American Investment Trust, otherwise known as Saints, is taking advantage of fair condi...

The Scottish American Investment Trust, otherwise known as Saints, is taking advantage of fair conditions in the bond market to build up potential gearing levels. The trust raised £35m on 6 December through a bond issue, money that it intends to hold until conditions in equity markets improve. Fund manager Marcus Brooks said: "Conditions in the bond market are good at the moment; the long end of the gilt market is strong: bringing yields down." Brooks has worked at Stewart Ivory which has managed the trust for seven years, and became overall manager for the £408m Saints trust in Septembe...

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