YALE University in the United States has emerged as an 8.3 per cent shareholder in Natwest Irish Smaller Companies Investment Trust, the trust which has invested £20 million in small to medium-sized Irish public companies.

Yale has told the Stock Exchange that it bought 490,000 of the Natwest trust shares last month, taking its stake to 8.3 per cent. In an other disclosure, British Empire Securities has taken its stake in the trust to 14.8 per cent after buying 910,000 shares while Ivery & Sime's stake is now 23.1 per cent.