London and St Lawrence throws in the towel


#1

Originally published at: http://whichinvestmenttrust.com/london-and-st-lawrence-throws-in-the-towel/

The Board is recommending the liquidation of a trust that is popular with investors attracted to its steady dividend. The Board of London & St Lawrence investment trust (LON:LSLI) is recommending to shareholders that it be wound up following a strategic review. At an upcoming AGM, shareholders will have the option of rolling over into…


#2

The London & St Lawrence has always been an unusual investment trust - really a “fund of funds”, adding its own fees on top of the management fees of the underlying funds. In addition it is relatively small, which tends to increase costs.

Its demise was probably inevitable.


#3

I would have preferred the option to roll over my holding in to another investment trust rather than the Practical Unit Trust. Witan would have been a good option because it’s a fund of funds trust too.

I am sad that London and St Lawrence has decided to throw in the towel. Performance was not spectacular but it was good and it paid a nice little dividend. They are all getting on a bit as the article implied and I think this is the reason for its demise more than the Aviva stake sale.