Investment Trust Insider on ScotGems
James Carthew: ScotGems’ soft start needs explanation
It has been a busy year for new issues and we still might see a few more make it over the finish line before Christmas. Although property in various forms has been popular, we have also witnessed a few equity trust launches get off the ground.
Jupiter Emerging & Frontier Income (JEFI) raised £90 million and has continued to expand, Aberforth Split Level Income (ASIT) raised £237 million from investors rolling over from the winding up of Aberforth Geared Income Trust and Downing Strategic Micro-Cap (DSM) raised £56 million for smaller company investor Judith MacKenzie in May.
Global smaller companies trust ScotGems (SGEM) was the smallest of the debutants, just exceeding its £50 million minimum fund raising target at its launch in June.
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