Aberdeen split trust wound up

12 April 2012

ANOTHER split capital investment trust has collapsed, casting further doubts on the stability of the whole industry.

The Leveraged Income Fund, managed by Aberdeen Asset Management, was once worth more than £150 million. It has called in the receivers after the value of its assets fell below the amount of its loan from the Royal Bank of Scotland.

Dealing in the trust's shares was suspended at 0.05p last month, but after meetings with creditors and the trust's advisers the only option was to wind up the fund. It is the latest in a string of split capital investment trusts to go bankrupt.

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