Alliance Trust rejects Elliott claims on costs, performance

April 2, 2015 6:26 AM

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LONDON, April 2 (Reuters) - British investment firm Alliance Trust defended its performance and operating costs on Thursday, in response to accusations made by rebel shareholder Elliott Advisors in an increasingly hostile war of words.

Elliott, the largest shareholder at Alliance Trust, is seeking a boardroom shake-up and said on Tuesday Alliance had underperformed its sector peers and its running costs were higher than had been reported.

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