Johnson Fry split cap raises £60m

The Johnson Fry Income & Growth split cap trust has so far raised £60m from retail and institutional investors. The trust, which closes this week, is going to have gross assets of around £100m once the bank debt is taken into account. Alan Kerr, manager of the trust, said that current market situation would be ideal for the portfolio. This will be tilted towards income through a high yielding securities portfolio comprising of ordinary and income shares of split capital investment trusts. These kind of shares have fallen in value during the technology boom as many splits are invested in...