The future independence of Edinburgh Fund Managers hangs in the balance as the trustees of the £1.3bn (€2.1bn) Edinburgh Investment Trust have cut the notice period of its mandate from one year to three months.
The notice period cut means Edinburgh could lose the mandate next January. As it represents one-sixth of the firm's assets under management, the consequent drop in its revenues would be around £4m. The operating profits could easily be halved. One analyst said: "If they lose the contract, they get taken over."
