Invesco Property Income trust investors face 100% loss

clock

Shareholders in the troubled Invesco Property Income trust have been told they are likely to lose their entire investment after it was suspended pending an effective firesale of its assets.

In a stark warning to investors, the trust's board said in a statement it was being forced to sell-off its assets to repay debtors sooner than expected, with shareholders likely to receive nothing back. It said it was "virtually certain that there will be no return for shareholders on completion of the Company's winding up." Launched in 2004 and currently run by Rory Morrison, the trust has also been suspended from trading by the FCA following discussions with its lenders. The trust said discussions with its lending banks had seen it granted a three-month extension to its borrowing...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment Trusts

Investment trusts close 2023 with 4.6% performance boost

Investment trusts close 2023 with 4.6% performance boost

Numis research into investment company universe

Cristian Angeloni
clock 04 January 2024 • 3 min read
What Q1 2023 and beyond could hold in store for markets

What Q1 2023 and beyond could hold in store for markets

Look at the road ahead, not the flies hitting the windscreen

Andrew Bell
clock 22 December 2022 • 8 min read
Fundsmith Emerging Equities trust proposes liquidation

Fundsmith Emerging Equities trust proposes liquidation

£323m Fundsmith Emerging Equities trust performance ‘fallen below expectations’

James Baxter-Derrington
clock 14 September 2022 • 1 min read