The board of the Miton Worldwide Growth investment trust has proposed a plan whereby its investors will be given the option to exit the fund easily every three years.
The proposal comes as the £41m trust faces a continuation vote at its annual general meeting, which will determine the vehicle’s fate.
Numis Securities has hailed the move by the Miton trust as a “proactive step” that will “give shareholders comfort that they will be able to achieve an exit in the future”.
Numis said the small size of the trust – investment trusts are not generally considered to be liquid unless they have a market cap of more than £100m – meant the board needed “a strategy for growth in order to secure its long-term future”.
But in the absence of such a plan, Numis said any concerns investors have should be alleviated by the exit option.
The trust, which is managed by Miton’s Nick Greenwood, currently trades on a 9.8 per cent discount.
