Carr joins Aberdeen attack.

Financial News, January, 2002

Byline: Nick Gilbert

Fred Carr, the chief executive of Carr Sheppards Crosthwaite, the private client broker, has joined the attack on Aberdeen Preferred Income's controversial reconstruction proposals ahead of today's (Monday) crucial vote.

Directors of the ailing [pound]250m ([euro]405m) split-cap trust, which like others in the Aberdeen Asset Managers stable has tried and largely failed to boost income by investing heavily in other split-caps, have already seen their proposed rescue package savaged by fund manager Richard Moon of Richard Moon Capital Management.

"We have advised our zero preference clients to vote against these proposals," Carr said. "They are far too biased in favour of the income shareholders. One wonders what has been...

Read the rest of this article with a Free Trial at HighBeam Research.

Premium Content Partnership | HighBeam Research provides an in-depth online archive library of reference works.