Sunday, 29th March 2015

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Sunday newspaper round-up: Alliance Trust, bank stress tests, Next

Wed, 29th Mar - * A former director of Alliance Trust has written to its shareholders describing the trust's performance as "dismal" and suggesting chief executive Katherine Garrett-Cox is overpaid, the Sunday Times reported. Tim Ingram's letter increases pressure on the trust's board, which is trying to repel demands from Elliott Advisors, the US activist investor, including for three new non-executive directors. Ingram said he would be voting for Elliott's nominees and that Alliance had lagged global growth trusts and three of similar size to Alliance. "The overall performance of Alliance Trust in the medium term has been dismal," he said.

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