NEW UNIT TRUSTS.
The launching of two new Unit Trusts last week occasioned a good deal of interest, for newcomers to this field of invest- ment have recently been few. Both the British Bank Shares Trust and the British Insurance Shares Trust appear under good auspices. The British Bank Shares Trust's permissible portfolio consists of a selection of home bank shares, discount company shares, and overseas banks. It offers a prospective yield of about 4 per cent. The British Insurance Shares Trust has a permitted portfolio of first-class English and Scottish insurance shares and offers an estimated yield of 3f per cent. to 31 per cent. In both cases, of course, the emphasis is on the prospect of gradual appreciation of capital
rather than immediate income return. J. D. M.
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