We use cookies to improve site performance and enhance your user experience. If you'd like to disable cookies on this device, please see our cookie management page.
If you close this message or continue to use this site, you consent to our use of cookies on this devise in accordance with our cookie policy, unless you disable them.

In association with

Home > Investments > Investment Trusts

By Bradley Gerrard | Published Jul 16, 2012

Mam Funds income trust fundraising falls short

Mam Funds’ smaller company investing star Gervais Williams has raised £30m in a C-share issue on his Diverse Income Trust - £20m below target.

The former head of smaller companies at Gartmore had hoped to virtually double the size of the £48.3m trust with a £50m share issue, but while the issue has completed successfully it only raised £30m.

Michael Wrobel, chairman of the trust, said the board was “wholly focused on maximising risk-adjusted returns for shareholders”.

“Following this successful C-share issue, it is pleasing to note that both the existing and the new shareholders can look forward to a reduction in the total expense ratio (TER) and the added market liquidity of the enlarged trust,” he said.

The expected net asset value (NAV) per C-share at admission will be 48.8 pence. The conversion of the C-shares to ordinary shares will be announced later.

visible-status-Standard story-url-IA web Mam funds.xml

Most Popular
More on FTAdviser