Investment Trusts  

F&C renames trust to make objective clearer

F&C renames trust to make objective clearer

F&C has changed the name of its Investors Capital trust as it looks to better reflect the investment aims of the company.

The £140m trust is now called the F&C UK High Income trust.

According to F&C, the name change reflects the fact that the strategy looks to give shareholders a return in the form of dividends and repayments, together with the opportunity for capital growth. 

Article continues after advert

There is no change, however to the investment objective or approach in light of the rename.

Iain McLaren, chairman of the F&C UK High Income trust, said the rename means the trust more clearly reflects the investment objectives of the vehicle.

While the trust has outperformed the UK Equity & Bond Income sector over the past year, returning 17.5 per cent against the peer group average of 15.6 per cent, FE figures show it has lagged behind the same sector over recent months.

Since the trust launched in March 2007, the company’s net asset value per share has returned 84.6 per cent.

Scott Gallacher, chartered financial planner at Rowley Turton, said: "The Financial Conduct Authority is quite clear that 'A firm must ensure that a communication or a financial promotion is fair, clear and not misleading'.

"Consequently it’s only sensible that fund and trust names are kept up-to-date and reflect their current approach to avoid any unnecessary confusion."