Iimia plans shares issue

iimia Investment Trust is planning to significantly increase in size through the issue of new ordinary shares. It is expected to raise up to 25m, taking the company’s net assets up to about 56m following the issue. The objective of the iimia Investment Trust is to achieve absolute returns, principally through exploiting inefficiencies in the pricing of closed-ended funds. From its launch in April 2004 to May 15, 2006, the trust has made a total return of 53%.