British Empire Securities And General Trust P.l.c. - BTEM- Profile

British Empire Securities and General Trust p.l.c.. The Group's principal activity is that of an Investment Trust Company. The objective of the Group is to achieve capital growth through a focused portfolio of investments, particularly in companies whose share prices stand at a discount to estimated underlying net asset value. The Group is an Investment Company under Section 266 of the Companies Act 1985. The Group has been approved by the Inland Revenue as an Investment Trust for the purposes of Section 842 of the Income and Corporation Taxes Act 1988 for the year ended 30-Sep-2005.Investment management services are provided by Asset Value Investors Ltd for a fee calculated at 0.55% of the net assets of the Group at the end of the financial period, increasing to 0.6% for any financial period in which the Company out-performs the benchmark or under-performs by no more than 5%. The agreement is terminable on a minimum of one year's notice by either party. Operates as an Investment Trust Company