Tracing Old Unit Trust - The Scottish National Trust PLC.

curtainmaker12

During my lockdown clear-out I’ve found a share certificate for above Unit Trust dated1989.  I'd forgotten all about it. 

Gartmore was bought out by Henderson Global Investors and then by Janus Henderson (JH) in 2011. I’ve been in touch with JH who have said that they don't have details of individual investors and that it was wound up in September 2005 and cheques sent out.

I moved in 1993 and Gartmore wouldn’t have had my new address. Do I put it down to experience or is there anything I can do to find out how much the shares would have been worth and claim my cash.

Hope someone can help. Many Thanks

jimjames

Just to clarify, it sounds like it's not an UNIT trust but an INVESTMENT trust that is traded on the stock market. It might sound like being picky but it's pretty important because of the way they are structured.

Are you sure you hadn't sold the shares prior to that? There are many occasions when certificates are found but have been superseded by later versions or sold. There isn't a lot on Google about it, a later version is the Second Scottish. It may have had a name change when taken over?

curtainmaker12

Hi

Many thanks for taking the time to reply.

You may be right. The letter attached to the share certificate is headed “The Gartmore Savings and Investment Scheme” and the Share Certificate headed “The Scottish National Trust plc”. I know that I haven’t sold them.

I sent Janus Henderson a scan of my share certificate and they’ve more or less said they can’t help.  Can you think of anything else I can do?

Thrugelmir

Unfortunately any records have more than likely been destroyed by now. 

Alexland

"Scottish National Trust, a £550m fund when it announced in 1997 that it was rolling over into Second Scottish National, was in its day the largest split-capital investment trust in the UK."

https://www.heraldscotland.com/news/12522593.gartmore-exit-the-latest-blow-for-glasgow-financial-sector-fund-manager-ends-30-year-commitment-to-scotland/

In 2003 the board of the second trust made a statement that recognised ordinary income shareholders had little prospect of receiving any capital value for their shares as there was insufficient capital to pay back those that held the zero dividend preference shares.

Second Scottish National Trust ordinary shares are on the HMRC list as worthless for CGT purposes so I don't think ordinary shareholders received any cheques in the post!
https://www.gov.uk/guidance/negligible-value-agreements
https://www.gov.uk/guidance/negligible-value-agreements#companies-s-to-u

There is a summary of what happened with split capital trusts below (read to the bottom)

https://moneyweek.com/investments/funds/investment-trusts/600787/the-return-of-split-capital-investment-trusts-and-two-to