Schroder British Opportunities Trust PLC - London-based public and private investment trust focused on small to mid-cap UK companies - Announces proposal to materially change its investment policy to focus entirely on private equity investments. Says that most of its portfolio's positive performance since initial public offering has come from private equity investments, while the public equity ones have detracted from overall net asset value performance, a 13.44% total return since IPO, amid "difficult market conditions". Expects public equity investments to be transitioned to cash, equivalent investments and other instruments pending reinvestment into private equity, and expects to be fully deployed in private equity investments by the end of 2026.
Also, Schroder British Opportunities' articles require the board to put forward a resolution for voluntary liquidation, with voting enhanced so that the winding-up resolution only requires one vote to be passed. Board is proposing to bring forward the winding-up resolution to the first quarter of 2027. Believes this "will provide clarity on the future of the company at the earliest opportunity, whilst allowing the investment manager time to deploy funds...in accordance with the revised proposed investment policy".
Current stock price: 71.00 pence
12-month change: down 11%
By Emma Curzon, Alliance News reporter
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