Value Catalyst launch

Underperforming emerging market investment trusts are to be the target of the Value Catalyst fund to be launched next month. The Dublin-based closed-end vehicle is being launched to target undervalued closed-end funds, especially in the emerging markets sector. Once invested, the fund's managers, Andrew Pegge and Colin Kingsnorth, will take an extremely active stance to maximise shareholder value. Options that may be taken include forcing a change in management, forcing a share buy-back, taking over the closed-end fund or winding it up and redistributing the capital. Pegge and Kingsnort...