UK medical research in line for new City fund of funds windfalls

A group of financial whizzkids (not sure what the collective noun is, a wallet of bankers?) has unveiled plans to float a new fund on the London Stock Exchange that is expected to generate millions each year to support UK medical research. The founders of the Battle Against Cancer Investment Trust (BACIT), a newly formed, self-managed, closed-ended investment company, have announced their intention to launch an initial public offering on the London Stock Exchange (bit.ly/QhAPU5).