Mark Mobius offers convert option

The tracker units will be linked to the MSCI Emerging Markets index, and incur an annual management and administration fee equivalent to 0.75pc of their net asset value (NAV). The board said this restructuring will give it an opportunity for returning capital to those shareholders seeking an exit from the trust. Up to 30pc of the tracker units may be redeemed in successive years, with the first redemption opportunity expected to be in the first quarter of 2008. After the first four years, all tracker units will be fully redeemable at 100pc of their NAV. Justin Modray, head of co...