F&C scraps US investment trust plans on weak demand

F&C Investments has pulled the launch of its US investment trust due to lack of demand.

The group announced in May that it had hired Barrow, Hanley, Mewhinney and Strauss LLC, one of the largest active managers of US value-orientated equities with assets under management of $66bn, to run the trust.

However, Ed Morse, head of investment trust business development at F&C, said the group had been unable to attract “sufficient financial commitment” to launch the trust, which was set to be called the F&C Barrow Hanley US trust.

The equity trust was set to targeting capital and income by trading in large caps under a value strategy and was expected to list on the London Stock Exchange at the end of June.