Aberforth plans £100m trust

A NEW investment trust managed by Edinburgh-based investment boutique Aberforth Partners is hoping to raise £100 million via a placing and offer for subscription.

The Aberforth Geared Income Trust – a split capital trust – will invest in between 50 and 100 smaller UK companies.

In announcing the intention to float yesterday, the trust's directors said they believed a number of factors were encouraging for the medium-term outlook for the sector. As at 31 March, Aberforth Partners had 1.5 billion of funds under management.