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The Alliance Trust plc was formed by the 1888 merger of three Dundee-based mortgage and land companies: the Dundee Investment Company, the Dundee Mortgage and Trust Investment Company and the Oregon and Washington Trust (which was set up to provide loans to immigrant farmers on the West Coast of the United States). [4]
The company was established in 1889 as the Transvaal Mortgage Loan and Finance Company, [4] led by chairman W.J. Thompson, [5] and invested in what is now South Africa. [4]It was renamed the British Empire Land Mortgage and Loan Company in 1906, and British Empire Securities and General Trust in 1964.
The amount invested in the UK allocation has also varied. During the early 1970s, UK equities and bonds fell from 63 per cent in 1972 [11] to nearly 45 per cent of the Trust two years later. [12] While some of this decline reflects steep relative falls in the UK stock market, it also reflects a deliberate move away from the UK.
The UK mortgage market is one of the most innovative and competitive in the world. There is little intervention in the market by the state or state funded entities and virtually all borrowing is funded by either mutual organisations (building societies and credit unions) or proprietary lenders (typically banks).
Baillie Gifford took over the management of Monks Investment Trust and two other related companies in 1931. [8] The firm continued to grow steadily until the outbreak of the Second World War. [9] Baillie died in 1939 [10] and, the following year, Gifford was posted to New York on UK Government business. However, the firm survived the war and ...
The most common way to repay a secured mortgage loan is to make regular payments toward the principal and interest over a set term, commonly referred to as (self) amortization in the U.S. and as a repayment mortgage in the UK. A mortgage is a form of annuity (from the perspective of the lender), and the calculation of the periodic payments is ...
In 1873, the Scottish American Investment Trust, a predecessor firm (Robert Fleming & Co. was sold to Chase Manhattan in 2000), was formed. In 1887, Jarvis-Conklin Mortgage Trust Company opened in London, and through a series of mergers and reorganizations, this firm became part of Chase Bank. [1] The bank joined CHAPS in 2010. [2]
In EU and UK law the umbrella term "collective investment scheme" is used to cover a range of legal entities, regardless of their form as trusts, companies or contracts, or a mixture. A "unit trust" is created through a trust deed, and run by a fund manager, where people may buy or sell "units" in a fund that invests in a range of securities.
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