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Brazier wins UK Select as Threadneedle enters closed-end world
by Sarah Miloudi on Jun 28, 2012 at 14:46
If pushed through, the agreement will see Simon Brazier, head of UK equities at Threadneedle, take on the investment company.
Threadneedle’s Head of UK distribution, Gary Collins, said Threadneedle had been chosen by the board of UK Select Trust to manage the closed-end vehicle, in a move that will see it grow its domestic equity franchise and enter the investment trust space for the first time.
'This appointment recognises the growing strength of our UK equities franchise under Simon Brazier, and we aim to deliver outstanding long-term performance to shareholders,' Collins said.
Under the transition, UK Select Trust will be managed according to Threadneedle’s UK equity alpha strategy, already used by Brazier (pictured) in his the £1.1 billion Threadneedle UK fund. The fund has delivered top quartile performance since Brazier began managing it in April 2010.
Brazier believes UK-focused products among investors is currently strong, making the opportunity to take on the trust compelling.
He said: 'This is an exciting opportunity for the team and we’re very pleased to bring our successful UK equity alpha strategy to the board and the shareholders of the UK Select Trust. We are seeing increased demand from investors With the UK Select Trust investors will now be able to access our UK equities track record via a wider range of vehicles.'
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