Trustco: a small matter of trust
Trustco and Conduit Capital have managed to create a lot of value out of very little. The alarm bells are ringing
The relationship between Trustco and Conduit Capital — two JSE-listed investment companies — is starting to look worryingly convenient.
Last week Trustco’s insurance subsidiary, Legal Shield Holdings (LSH), proposed selling Herboths Property Development Co to Conduit’s loss-making insurance arm, Constantia, for R1bn.