Two NEW UNff TRUSTS Two new unit trusts are now
making their appearance. National Gold Share Certificates is being launched by National Fixed Investment Trust. In its original form the unit which is divided into 4,800 sub-units consists of the shares in 18 well-chosen gold mining companies calculated to give a yield of 71, per cent., subject to income-tax, on the initial price of 16s. 3d. per sub-unit. But the trust is of the flexible type, and there is a list of a further 12 gold mining companies
• into which the managers have power to exchange. The trust is cumulative in the sense that all capital bonuses and sales of rights are added to the capital of the fund. The first half- yearly distribution is to be on September 1st.
It is also announced that the new management company, Lombard Unit Investments, is shortly to bring out its first trust. Details of this new trust are not yet available.
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