AIC responds to Herald announcement

The Association of Investment Companies (AIC) has responded to Herald Investment Trust’s announcement that heads of terms have been agreed to appoint Aberdeen Investments as AIFM, with Katie Potts continuing as manager of the company. The trust has also proposed a tender offer for up to 66% of the company’s share capital and Saba has committed to exit Herald in full via the tender offer. 

Richard Stone, Chief Executive of the Association of Investment Companies (AIC), said: “This is a successful outcome for shareholders. It’s excellent to see proposals that will allow Herald Investment Trust to continue to deliver strong returns for its shareholders. We’d like to congratulate the board of Herald and Aberdeen Investments on this creative solution. 

“Herald is a unique investment trust, backing high-growth tech and communications businesses, led by Katie Potts, one of the longest serving managers in the industry. Long may it continue!”