BMO UK High Income Trust B shares : BHIB
BMO UK High Income Trust (formerly F&C UK High Income Trust and, before that, Investors Capital Trust) aims to deliver an attractive return in the form of dividends and/or capital returns, together with the potential for capital growth. The portfolio is managed in two parts, an equities portfolio and a higher yield portfolio. The equities portfolio represents the majority of the Trust’s assets and is invested in UK large and mid-sized companies while the higher yield portfolio is currently invested in predominantly investment grade corporate bonds.
F&C UK High Income Trust has two classes of share – ordinary shares (formerly FHI / ICTA) and B shares (formerly FHIB / ICTB) – which pay the same level of quarterly cash distributions. The cash distributions on the ordinary shares are paid as dividends while those on the B shares are paid by way of capital distributions and therefore taxed under capital gains tax (CGT) rules which can provide tax benefits to certain types of investors.
The shares are also traded as units (formerly FHIU / ICTU) – each unit consists of three ordinary shares and one B share.
FHIB : F&C UK High Income Trust B shares