Financial Services Industry
Industry: Email Alert RSS FeedLatin American trusts restructure.
Investors Chronicle, October, 2004
There could be a reprieve for Deutsche Latin American, which failed to secure the support of shareholders at a continuation vote in August. Consultation with shareholders has opened the prospect of continuation with a change of remit and the board has been approached by Aberdeen Asset Management, with a view to the trust being taken over by Aberdeen's highly regarded Asia and Emerging Markets fund manager Hugh Young.
The board is considering its options in conjunction with adviser Intelli Corporate Finance. This would not be the first change of remit for a Latin American trust - in 2003, Aberdeen Latin American changed its name and remit to become City Natural Resources High Yield.
Continuation with a change of remit would be good news for warrant...
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