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Aberforth Geared Capital & Income Trust plc is a split capital investment trust which has two classes of share - Capital Shares and Income Shares - both of which are traded on the London Stock Exchange. It was launched, and received its listing on the London Stock Exchange, on 18 December 2001 with net issue proceeds amounting to £34.3m. The Trust has a planned winding up date of 31 December 2011.
The Trust's objective is to provide Income Shareholders with a high level of income payable half yearly with the potential for income growth and to provide Capital Shareholders with geared capital growth.
The assets of the Trust are invested in a diversified portfolio which will normally consist of over 60 investments selected by the Manager from the ordinary shares and convertible securities of companies within the Trust's investment universe. The investment universe comprises companies that are or that would be constituents of the Hoare Govett Smaller Companies Index (Excluding Investment Companies). The upper limit of this index was companies with a market capitalisation of £1,188m as at 1 January 2010 (the date of the last annual index rebalance). This market capitalisation limit will change owing to movements in the stockmarket. In seeking investments the approach will be fundamental in nature involving regular contact with the management of prospective and existing investments in conjunction with rigorous financial analysis of these companies. The Trust's portfolio will be invested in a manner that is believed to have the potential to achieve capital growth and generate an above average and rising level of dividend income.
©2010 Aberforth Partners LLP.