F&C buys out investment trust arbitrageur Sierra

Sierra Trading, the US investment trust arbitrageur, has sold its stakes in both Foreign & Colonial investment trust, signalling what appears to be a major retreat from the trust sector.

The two disposals yielded Sierra, based in Princeton, New Jersey, around £60m (€94.2m).

WSJ Logo
Bill Ackman’s Pro-Tennis Debut Lasted 67 MinutesExternal link

Bill Ackman’s Pro-Tennis Debut Lasted 67 Minutes