Split capital investment trusts, or Splits, are investment companies which issue different classes of shares and many are listed on the London Stock Exchange. If you have invested in a Split, you have bought shares in a company. You may have invested in Splits either by buying shares direct, or indirectly within an investment trust savings scheme, as part of a PEP, an ISA or through a unit trust. One of the classes of shares issued by some splits are zero-dividend preference shares (zeros).

During 2000 and 2001, several key events contributed to the start of the collapse of a number of Splits. These events included the collapse of the value of technology stocks, a marked downturn in the FTSE 100 and a global fall in the value of shares following the events of September 11 in the US. The impact of these events on the Splits sector was affected by the existence of financial gearing and the level of cross-holdings within the sector.

The consequences of these events for the Splits sector included a lack of new investor demand and a reduction in the cover available to meet the requirements under bank covenants.

In 2004 and 2005 certain firms agreed to contribute without admissions to a fund, to be made available for distribution to eligible individuals who invested in zeros and in a number of specified unit trusts and other financial products that invested in zeros. A company, Fund Distribution Limited (FDL), was set up to make distributions from this fund.

FDL made two distributions to eligible investors between May and December 2006. Following payment of the second distribution, FDL fulfilled the purpose for which it was established and on 25 January 2007 it was placed into members' voluntary liquidation. For the full statement visit FDL's website – see Related links

There are various ways of finding information. You can access the website of most Splits by pressing your web browser's search button and typing in 'split capital investment trusts'. You will find some independent websites that show how most Splits are doing, and often a site specifically for your own Split. Or, the Association of Investment Companies has a website that contains details of some Splits.

You can also contact the person who advised you to make the investment.

If you have invested directly, the most recent statement sent to shareholders should include an analysis at the last financial year-end of your Split's investments and borrowing.

Newspapers are also often a good source of information.