Trust Company bids for Trio Capital schemes
Trust Company is seeking to become the replacement responsible entity (RE) for 10 Trio Capital managed investment schemes.
Trio Capital, formerly Astarra Capital, is currently the RE and investment manager of the schemes, but with that company now in liquidation a replacement must be found.
Trust Company said the schemes to which it is seeking to be appointed RE are "largely unimpaired by the indentified problematic assets in the wider stable of the Trio schemes".
Nine of the schemes in question are registered and one is an unregistered wholesale trust.
Trust Company has the support of ACT Super Management, a subsidiary of McGrathNicol and the acting trustee of various Astarra superannuation funds and the major unit holder in the schemes.
ACT Super has called unit holder meetings for each scheme to be held on 30 July to vote on the proposal.
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