James Carthew: Need to cut charges lies behind Abrdn and trust changes
The pace of change within the investment company sector appears to be accelerating. Just in the last few weeks we have seen Asset Value Investors win the mandate to run MIGO Opportunities (MIGO), though likely with the same management team as before, which is welcome news.
There has also been a suggestion from the chair of Henderson Diversified Income (HDIV) that the bond fund’s investment approach might need a rethink, while a continuation vote has been called at ThomasLloyd Energy Impact (TLEI) following the discovery of big losses on its construction project in India.
In addition, there has been a notable spate of announcements from Abrdn-run funds. Abrdn Smaller Companies Income (ASCI) has confirmed a merger with Shires Income (SHRS) while Abrdn New Dawn (ABD) and Asia Dragon (DGN) have unveiled plans to combine.
If we factor in an ongoing strategic review of Abrdn Diversified Income & Growth (ADIG), the planned takeover of Abrdn Japan (AJIT) by Nippon Active Value (NAVF), and the recent liquidation of Abrdn Latin American Income, it is clear a substantial reorganisation of the group’s investment companies stable is underway.
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