The FSA has sent a questionnaire to every investment trust group, asking them to provide details of ...
The FSA has sent a questionnaire to every investment trust group, asking them to provide details of their levels of bank borrowing and what proportion of their holdings are in income and split cap shares. According to the FSA, this is part of an overall scheme to assess the market impact of the events of 11 September and the uncertainties it has caused. The FSA denies this is a particular focus on split caps, which, as highly geared vehicles, are at risk if the market falls even further. As equity holdings shrink, it raises a split's gearing levels as a proportion of its NAV, so prolo...
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