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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 £4.5 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. Current stock price: 919.00 pence 12-month change: up 13% Copyright 2023 Alliance News Ltd. All Rights Reserved.
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