Baring Tribune offers investors chance to sell

Baring Tribune offers investors chance to sell

BARING TRIBUNE Investment Trust yesterday launched a fresh scheme to beat off arbitrageurs seeking to break up the pounds 300m vehicle. BART is offering investors the choice of staying with the trust or selling out at a 5 per cent discount. Last month the trust beat off an attempt to break it up by Advance UK, a fund widely seen as an arbitrageur. Under the plan, shareholders who want to exit can opt for a separate pool of investment, run by Barclays Global Investors, which will simply track the FT All-Share Index. They can then sell these shares. The plan marks a new direction in efforts to defend the UK's pounds 60bn investment trust industry.