abrdn Diversified Income & Growth eyes managed wind-down

Subject to shareholder approval

Cristian Angeloni
clock • 2 min read

The board of abrdn Diversified Income & Growth (ADIG) has put forward proposals to close the trust due to the “entrenched discount to net asset value” at which it is currently trading.

In a stock exchange notice today (14 December), ADIG's board said it believed a managed wind-down would be in the "best interests of shareholders as a whole". abrdn Diversified Income and Growth to return up to £35m to shareholders Investors will be able to vote on the proposals at the trust's annual general meeting on 27 February 2024. According to data from the Association of Investment Companies, ADIG is currently trading at a 31.4% discount. Under the board's proposals, shareholders would have roughly £115m returned in the first half of 2024 at, or close to, NAV, it said. ...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Investment Trusts

Trustpilot