F&C Investment Trust PLC - aims for long-term growth and income by investing in listed equities globally - Writes off entire value of stake in collapsed Silicon Valley Bank. The 51,453 shares it held had been valued at GBP4.5 million, representing 0.09% of F&C Investment Trust's total portfolio. It noted this means the loss is considered to be "immaterial". US authorities shut down SVB last Friday, after it made a huge loss of the sale of US Treasuries. This marked the US's biggest banking failure since the 2008 financial crisis.
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By Tom Waite, Alliance News editor
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F&C Investment Trust (FCIT)