Baker Tilly liquidators of resources trust
Baker Tilly has been appointed to wind up resources trust to realise profit for shareholders
Baker Tilly
Restructuring and Recovery will act as liquidators of the Resources investment
trust after shareholders voted to voluntarily wind up the vehicle to realise
returns on their initial stakes.
The company was launched in 2002 and managers David Hutchins and Kjeld
Thygesen aimed to take advantage of the booming demand for natural resources to
generate profit, according to the Financial Times.
But last year, the managers proposed to wind up the trust to ensure
shareholders would receive a positive return on their initial investment.
By the end of February, the majority of the portfolio was sunk in cash and
fixed interest at 83%, while the remaining 11% were in UK resources and 6%, in
Canadian equities.
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story in the Financial Times