Caledonia investment trust avoids being split into two

The £683m Caledonia investment trust will not be wound up despite strong support from institutional shareholders for break-up proposals, the board said last week. Institutional shareholders Schroders and Hermes came out in favour of proposals to split the trust into two companies, one a realisation vehicle and one for shareholders who wished to remain invested. The proposals were made by a group of shareholders led by some members of the Cayzer family, which originally set up Caledonia as an investment company. Caledonia is around 38% owned by the Cayzer Trust Company (CTC), which is...