The £360 million investment trust Abrdn Diversified Income and Growth plc (ADIG) — which last month commenced a strategic review — announced it “has received a number of credible, attractive and varied proposals.”

The fund said that in light of the ongoing review process its has suspended the trust’s investment-led share buyback policy.

The Abrdn Diversified fund was formerly known as British Assets.

Abrdn is in the process of closing or merging a significant number of its funds.

In a stock exchange statement, Abrdn Diversified said: “The board of Abrdn Diversified Income and Growth plc is pleased to provide shareholders with an update in respect of the strategic review process announced on 20 June 2023.

“Following the announcement of the strategic review, the company has received a number of credible, attractive and varied proposals for actions that we believe should enhance shareholder value.

“The board, and its advisers, are actively exploring how these various proposals could best deliver value for ADIG shareholders and are engaged in productive discussions with a selected shortlist of parties.

“The company will provide an update in due course, noting that at this stage there can be no certainty as to the outcome of the review.

“The ADIG board has also taken the decision, in the light of the ongoing review process, to suspend the company’s investment-led share buyback policy.

“Subject to the outcome of the strategic review, the board will consider resuming share buybacks in due course.”

Abrdn Diversified chair Davina Walter said: “We have been impressed with the proposals we have received which present the board with various options for enhancing shareholder value.

“We are undertaking a detailed review of these options and are looking forward to updating shareholders in due course on our progress.”