Two investment trusts have agreed to merge their portfolios in an attempt to cut costs and increase liquidity, as the sector struggles with deep share price discounts.
The FTSE 250 ￡1bn Fidelity China Special Situations trust will absorb the assets of Abrdn’s China Investment Company. The deal will create a ￡1.2bn trust that will continue to be managed by Fidelity and portfolio manager Dale Nicholls, the companies said in a statement on Tuesday.
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