UK AIC appoints board members

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Members of the Association of Investment Companies’ (AIC), the UK trade association representing listed closed ended funds, has appointed Rachel Beagles and Chris Hills to the board.

The changes mean that the board in addition to Beagles and Hills constitutes: Peter Arthur (chairman), Melville Trimble (deputy chairman), Chris Fletcher, Peter Moffatt and Chris Russell.

Andrew Bell, outgoing chairman, and Sarah Bates, chairman from January 2011 to January 2013, have both retired from the board, following nine years of service.

Rachel Beagles is a director of BlackRock Emerging Europe plc, Crown Place VCT plc, New India Investment Trust plc, Schroder UK Mid Cap Fund plc and Securities Trust of Scotland plc. Previous work has included the role as managing director in the investment banking division of Deutsche Bank, where she was co-head of the Pan European Banks equity research and sales team.

Chris Hills is a director of Henderson Opportunities Trust and Invesco Income Growth Trust. He has spent 40 years in the investment management field; during that time he has invested in investment companies on behalf of a life and pensions business and high net worth individuals, as well as managing one trust and serving on the board of two. He joined the City in 1974 after graduating from Cambridge and is presently the CIO of Investec Wealth & Investment, a position he has held since 1995.

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