Readers of this Journal need not be reminded of the roguish anecdotage
ud keeps alight the torch so brilliantly fates weekly in the pages of amer Pepys Sumior who sen,
Iit by his great forbear. Even eminent diaries claim the privilege of Homer nod occasionally but itis certainly trusts and to report what action, if any, was desirable in the public interest, The Committee was presided over by Sir Alan Anderson and made @ unanimous report—exeept for a short rider by Mr. F. W. Pothick-Lawrence. The recommendations have been published with the report ina while paper issued last month. The Inquiry was directly due to the Andings of the Stock Exchange Committee that the Fixed Trust movement Fequired regulation. The Anderson Report confirms that view although itis sympathetic to the movement, which it describes as "one of the Outstanding investment phenomena of recent years," for within a period of five years about £50 million's worth of units have been sold. Obviously the Trust movement has provided something which the investor wanted. "It gives the man with a small sum {0 spend a ready opportunity to spread his. investment Over a large number of securities. Therein Iles the appeal which it makes to him, reinforced as it has! een by efflelent advertisement. The Report naturally is highly. technical and, incidentally, its recommenda-Hlons take up a good deal of space. Perhaps it may be sufficient here {0 quote the City Editor of "The Times"
Indicate their general character.
says that broadly speaking they are designed to give the holder of Axed and flexible trust Units the protection of the company law that they" would enjoy it they ware the direct instead of the indirect Owners of the underlying "securities There are certain additional safe: nards. "For instance it Is recommended that the management com. Danles of unit. trusts should not Trcorporated bodies but should. be Incorporated in the United Kingdom: that such management companies should deposit a substantial sum money with the Paymaster-General ((20000"Is suggested), as is required
Text read from the printed page and cleaned; old type leaves the occasional error.