Alliance Trust and the Second Alliance Trust are set to resign from the Association of Investment Trust Companies (AITC), the sector umbrella body.

The decision of the two trusts to pull out will be a blow to Daniel Godfrey, AITC director general, who has been working hard to market trust services to investors.

The trusts have decided to save marketing costs by cancelling their membership

Maha Khan

Scottish Investment Trust

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Alliance pulls out from AITC umbrella

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