Advertisement

Diverse Income Trust edges closer to merger with Henderson Fledgling Trust

Miton Group fund manager Gervais Williams' FTSE-listed Diverse Income Trust is edging closer to a merger with the Henderson Fledgling Trust.

Miton Group fund manager Gervais Williams' FTSE-listed Diverse Income Trust is edging closer to a merger with the Henderson Fledgling Trust.

An update issued by the Diverse Income Trust on Friday stated that the board had agreed heads of terms with Henderson Fledgling Trust in respect of a future merger of the two companies.

Advertisement - Article continues below

Under the scheme, the Henderson Fledgling Trust would receive new Diverse Income Trust shares valued at a premium of 2.5% to their net asset value (NAV) as at the effective date of the scheme.

The consideration for the issue of new Diverse Income Trust shares would be the transfer to Diverse Income Trust of the entire investment portfolio of Henderson Fledgling Trust, following the setting aside of amounts as required to meet the company's liabilities, by way of a scheme of reconstruction.

No cash exit is being offered as part of the scheme.

The Diverse Income Trust is managed by Gervais William and was established in April 2011. As of July 31st 2012, the trust's net asset value had grown by 2.4% over one month, 0.4% over three months, 2.5% over one year and 1.1% since launch.

As of the same date, its top five holdings as of this time were Zotefoams, CML Microsystems, Greencore Group, Quindell Portfolio and Abbey Protection with 2.2$, 2.1%, 2.0%, 1.8% and 1.7% stakes respectively.

MF

Advertisement
Advertisement

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Why investors should be “cautiously bullish” for 2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

What gold, bonds and tech stocks have in common
Stockmarkets

What gold, bonds and tech stocks have in common

"Risk off" or "safe haven" assets such as gold and government bonds have been doing well lately. But so have riskier tech stocks. That seems to defy c…
10 Jul 2020
An economics lesson from my barber
Inflation

An economics lesson from my barber

On reopening his shop after lockdown, Dominic Frisby’s barber doubled his prices. It’s all part of the post-Covid inflation process – and we’re going …
8 Jul 2020
Share tips of the week
Share tips

Share tips of the week

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
10 Jul 2020