Former Investment Association chief executive Daniel Godfrey is seeking small-scale private investor backing for a 'new kind of investment company' - The People's Trust.
Godfrey (pictured), who resigned from the trade body 12 months ago after some members objected to his reform agenda, said the independent investment trust would be constructed "with no commercial mouths to feed" and "for clients who invested for the long haul". The crowd-funding initiative, which has targeted a minimum of £100,000, is seeking 'founders' to help back the trust's development costs ahead of a proposed initial public offering in the first half of 2017. A founder contribution is £20, or £10 for those aged under 35. According to Godfrey, The People's Trust will be fully own...
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