Artemis gives up Close trusts by mutual consent

Close Finsbury has said that performance issues were at the root of the recent removal of Artemis from the management of two of the four investment trusts that it managed for the group. Instead both sides maintain that the separation took place by mutual consent as the rapid development of Artemis in the three years since the joint venture was begun means that fund manager Mark Tyndall's focus has now shifted onto the expanding business. Performance of the two trusts has not been very strong. The Finsbury Smaller Quoted Companies Trust is down over the three months to 4 December with nega...