Vote decides mandate change for DWS Latin.

Investment Adviser, November, 2004

THE AGBP43.6m Deutsche Latin American Companies trust is to change its mandate, turning its sights on India.

This follows the decision to change managers from DWS to Aberdeen Asset Management.

Richard Watkins, chairman of the trust's board, said the move came after talks with shareholders and the trust's broker Close Brothers after a continuation vote on 9 August, in which 70 per cent of shareholders opted either for winding up the trust or finding an alternative manager.

He said: "Although the fund performed well, the continuation vote was partially lost because Deutsche underperformed relative to some others in the sector in the last two years. The other area that was disappointing was that it was trading at around a 10 per cent discount...

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