The Seneca Global Income & Growth Trust board has announced a name change to reflect the acquisition of Seneca Investment Managers by Momentum Global Investment Management last October.
The trust’s name will change to the Momentum Multi-Asset Value Trust next month, subject to approval by Companies House.
It follows MGIM’s acquisition of Seneca, the trust’s portfolio manager, in October last year. The new moniker is to reflect the subsequent integration and re-branding.
Seneca Global Income & Growth Trust chairman Richard Ramsay said: “We very much look forward to working with the wider MGIM team which will provide us with extensive capabilities and investment insight.”
The trust’s board also announced a third interim dividend in respect of the year ending 30 April 2021 of 1.68p per share, which is unchanged from last year.
It anticipates maintaining the quarterly dividend rate for at least the next financial year to 30 April 2022 at 1.68p per share due to the uncertain effect of the Covid pandemic on portfolio companies’ dividends.
“As a multi-asset, value driven investment company we seek to deliver both income and capital growth from a wide range of assets,” added Rumsey. “In this current market environment where dividend payments are challenging, we are pleased to be able to confirm that current and future dividends will be paid for at least the next financial year ending 30 April 2022.”
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