Alliance Trust warns of referendum ‘uncertainty’

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Investment firm Alliance Trust today joined the growing list of companies warning over the consequences of a vote for Scottish independence.

The Dundee-based company said that it has started setting up additional English-registered companies to provide “operational flexibility” and complement its existing business north of the Border.

Chief executive Katherine Garrett-Cox said: “The referendum in September is creating uncertainty for our customers and our business, which we have a responsibility to address.

“Regardless of the outcome it is critical that we are able to provide continuity of service and protection for their investments and savings.”

Fellow financial services group Lloyds, Royal Bank of Scotland and Standard Life have already noted their concerns over the independence vote.

Today’s comments from Alliance Trust came as it reported a 16.1 per cent rise in its net asset value per share for 2013.

The firm said its savings business had made its first full-year profit for eight years, with assets under administration growing 33 per cent to £5.4 billion.