Merrill Lynch launches £75 million investment trust to invest in mining and energy sector
13 December 2005
LG has advised newly incorporated investment trust Merrill Lynch Commodities Income Investment Trust plc ("the Company") on its Placing and Offer for Subscription which raised £75 million. Trading in the Company's shares commenced on the Official List today, 13 December 2005.
The Company aims to achieve an annual dividend yield and, over the long term, capital growth by investing primarily in securities of companies operating in the mining and energy sector. The new company will be managed by Merrill Lynch Investment Managers.
The team advising the Company comprised Oliver Riley and Gillian McCarthy (members of LG's Investment Funds and Natural Resource Groups), led by Victoria Younghusband, corporate partner and joint head of the Investment Funds Group.
Victoria said: "We are delighted to be working with new client Merrill Lynch and with UBS on this important launch. The timetable from initial instruction to issue of the Prospectus was six weeks which was achieved by the hard work of everyone involved".
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Victoria Young Husband
+44(0)20 7759 6612